Released on February 10, 2012
More innovative housing is on its way thanks to a second round of funding from The Saskatchewan Housing Corporation's Summit Action Fund. The second intake resulted in the selection of eight projects for a total of $2,697,900 in government grants - more than double the amount provided in the first intake.
"I am very pleased with the quality of projects that came forward during this second intake," Minister responsible for Saskatchewan Housing Corporation June Draude said. "These innovative projects will increase the housing supply by 268 units and help people access housing - two important goals of the provincial housing strategy."
These new projects will:
- provide 10 new homeowner units in Pinehouse through the development of a local homeownership program;
- result in four new rental units in La Ronge, with additional units in future phases;
- help employers offer housing benefits to employees who are first-time home buyers which will result in approximately 190 new homes;
- create 24 new rental units in Weyburn through significant municipal financial incentives;
- build 13 supportive living rental residences in Eston, freeing up existing single-family homes;
- develop a 12-unit retirement villa through substantial community fundraising in Mossbank;
- build a 10-unit home for cognitively impaired adults in Corman Park; and
- facilitate the construction of four new basement apartments for low income residents in an existing building in Melfort.
"With the growth and excitement that has been building around Weyburn lately, we are experiencing a near-zero vacancy rate in mid-range rental properties," Weyburn Mayor Debra Button said. "Thanks to financial assistance from the Summit Action Fund, as well as additional incentives from the city, outside investors like Span West Farms Ltd. will be able to fill this need."
The Summit Action Fund is designed to increase housing supply across the province through creative, flexible approaches and innovation in the housing sector. The Fund provides a grant of 30 to 70 per cent of eligible project costs, or to a maximum of $500,000, to housing stakeholders who have creative housing solutions that are not currently covered by existing housing programs.
For more information on the Summit Action Fund, please contact the Saskatchewan Housing Corporation at 306-787-4177, toll-free at 1-800-667-7567 or visit the website at www.socialservices.gov.sk.ca/housing.
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For more information, contact:
Linda Saliken
Social Services
Regina
Phone: 306-787-0246
Email: linda.saliken@gov.sk.ca