Innovation Place is a Saskatchewan Crown Corporation dedicated to promoting the growth and success of the Saskatchewan technology sector through the development and operation of research parks.

The No. 5 Loop Road building is designed to provide lease space to organizations and companies dedicated to research, development and technological advancement. It is a three-storey structure designed in response to the conceptual master plan and reflects the established material palette of the existing buildings. It will provide an additional 120,000 sq ft of lease space to further the Innovation Place mandate.