Released on October 5, 2007
The Government of Saskatchewan will provide families with more opportunities to own or rent quality, affordable housing with the announcement of a number of new housing projects, as well as new and expanded HomeFirst housing programs.
The new projects announced today will result in 185 new housing units in Saskatoon. A new HomeFirst Secondary Suites program will provide funding to help Saskatchewan people build secondary suites in existing housing. As well, the expanded HomeFirst Homeownership program will help up to 500 eligible families purchase a home with forgivable loans and a deferred, repayable low interest mortgage.
"Housing is a basic human need and a place of safety, security and stability," Crown Investments Corporation Minister Judy Junor said. "As a result of Saskatchewan's booming economy, some people need help to meet their specific housing requirements. Our new and ongoing HomeFirst initiatives will increase the number of housing options available to Saskatchewan families most in need and make life better for all Saskatchewan people."
The province is committing a total of $15.67 million to a variety of housing projects in Saskatoon. The projects include The Lighthouse, a 120 rental unit building for vulnerable, low-income single people and people with special needs, as well as the purchase of three apartment buildings to provide a total of 46 rental units to lower income families.
Funding for these new projects comes from the $110 million housing fund to improve inner cities and northern communities announced by Premier Lorne Calvert in February 2007.
The HomeFirst Secondary Suites program will increase the supply of affordable housing by encouraging people to turn space in their homes into rental suites. The program will provide eligible property owners with a forgivable grant of 50 per cent of construction or renovation costs to a maximum of $24,000 in southern Saskatchewan and $28,000 in northern areas. Approximately $2 million will be allocated to the HomeFirst Secondary Suites program with up to 100 units expected to be delivered over three years. Saskatchewan Housing Corporation will also commit $5 million to develop secondary suites in its own housing stock.
The expanded HomeFirst Homeownership program will help up to 500 eligible families to purchase a home by providing a forgivable loan of up to $20,000. The amount of the loan will be based on gross annual household income of less than $52,000. The program will also provide a deferred repayable low interest mortgage of up to $30,000. Approximately $23 million will be allocated to this initiative.
As well, Saskatchewan Housing Corporation will open up its homeowner education program to all residents of the province.
The new and enhanced programs flow from consultations with housing partners in Regina, Saskatoon and Prince Albert this summer, and build upon the recently announced shelter rate and housing supplement increases and creation of the Housing Information Line.
"We have heard from Saskatchewan people, including our housing partners, who said we need to make affordable housing more accessible," Community Resources Minister Kevin Yates said. "Today's announcements, in conjunction with our recently announced shelter allowance and rental housing supplement increases, as well as the launch of the Housing Information Line, truly exemplify a commitment by our government to improve the quality of life for Saskatchewan citizens."
The province, through Saskatchewan Housing Corporation, has actively funded the development of 113 affordable housing projects in Saskatchewan including 2,049 units since 2001, representing a commitment of almost $104 million. Over the last three months, through HomeFirst, 21 affordable housing projects (621 units) were announced in the province, representing a $16.8 million commitment.
For more information on HomeFirst Homeownership and HomeFirst Secondary Suites, contact the Housing Information Line at 1-888-3HOME-07 (1-888-346-6307).
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For more information, contact:
Linda Saliken
Community Resources
Regina
Phone: 306-787-0246
Email: lsaliken@cr.gov.sk.ca