The practical takeaway for Saskatoon is which buildings are realistic candidates and which are not: a shallow floor plate with good natural light converts far more easily than a deep tower designed for open-plan offices, and that difference decides whether a specific downtown property is ever worth converting at all.
For nearby homeowners, the relevance is indirect but real. Any project that adds housing supply downtown competes for the same buyer pool as a resale house a few blocks away, and the Saskatchewan REALTORS Association's 1.63 months of supply figure is the number that shows whether that competition is currently tight or loose.
A homeowner near downtown watching for new supply should track months of supply locally rather than waiting on a conversion story from somewhere else. Get your hand-reviewed valuation from Joel Dyck.