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Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on March 23, 2012
Construction of a new $2.8 million condominium development for 15 low- to moderate-income families is underway in Moose Jaw, with $1.9 million in financing assistance from the Government of Saskatchewan through the HeadStart on a Home program.
"We are pleased that Moose Jaw is the latest community to take advantage of HeadStart on a Home to help meet the need for entry-level housing in Saskatchewan," Social Services Minister and Minister responsible for Saskatchewan Housing Corporation June Draude said. "Increasing housing supply within the price range of families and individuals currently renting will help many Saskatchewan citizens purchase their first home. This program is a key initiative under our housing strategy for Saskatchewan, which was released in August last year."
"HeadStart on a Home is a made in Saskatchewan solution that will help sustain our province's current growth and prosperity," Westcap Mgt. Ltd. President and CEO Grant Kook said. "As the fund manager of this important infrastructure fund, working closely with our credit union champions, we are very pleased to have approved more than $44 million in entry-level projects to date."
Municipalities may apply for the loans on behalf of builders and developers. There is $199 million in funding available for the program through the Federal Immigrant Investor Program, which will flow through the Saskatchewan Immigrant Investor Fund Inc. (SIIF), managed by Westcap Mgt. Ltd. (Westcap). SIIF is a subsidiary of Crown Investments Corporation.
Plaxton Ridge will be a 15-unit, three-storey apartment-style condominium building located at 221 Main Street South in Moose Jaw. Each unit will have two bedrooms, one bathroom and a den, with sale prices between $189,000 - $199,000, including GST.
HeadStart on a Home will finance construction of at least 1,000 new, entry-level homes over the next five years. Builders and developers are eligible for construction loans of 90 per cent on the construction cost of the homes, including land, at an interest rate of four per cent.
The target sale price for homes constructed through HeadStart on a Home will be at or below the MLS average sale price in each community, expected to range from $180,000 to $300,000. The homes may include condominiums, multi-unit, single family dwellings, modular homes or ready-to-move units.
Westcap is partnering with Saskatchewan credit unions (Advantage, Affinity, Conexus, Cornerstone, Innovation, Plainsview, Prairie Centre, Synergy, Spectra, and Weyburn) to administer Headstart on a Home to ensure communities across Saskatchewan have every opportunity to be a part of this housing program. Builders who are interested in meeting their community's housing needs may contact Westcap directly or contact the local participating credit union to discuss the project and eligibility.
For more information about Headstart on a Home, visit the website at www.headstartonahome.ca.
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For more information, contact:
Linda Saliken
Social Services
Regina
Phone: 306-787-0246
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