Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
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 November 5, 2012
Moose Jaw families are celebrating increased access to safe, quality homes at Plaxton Ridge, a 15-unit, three-storey apartment-style condominium located at 221 Main Street South. The Government of Saskatchewan provided $1.9 million in financing assistance through the HeadStart on a Home program.
"It is wonderful to see so many people working together to make a difference for Moose Jaw families who need some extra help to buy an entry-level home," Social Services Minister and Minister responsible for Saskatchewan Housing Corporation June Draude said. "The goal of Saskatchewan's Plan for Growth is to capture the opportunities and meet the challenges of a growing province. A key part of that is securing a better quality of life for Saskatchewan people through affordable housing."
"HeadStart on a Home is a made-in-Saskatchewan solution that will help sustain our current growth and prosperity in this province," Westcap Mgt. Ltd. President and CEO Grant Kook said. "As the fund manager of HeadStart, working closely with our Credit Union partners, we are very pleased to have approved more than $100 million in construction financing for 631 entry-level homes to date, including this project for 15 units in collaboration with the City of Moose Jaw."
Construction of Plaxton Ridge began in December 2011, with an estimated total project cost of $2.8 million. The 15 apartment-style, two-bedroom units are priced between $189,000 and $199,000, including GST. The units feature a den, one bathroom, balcony and central air conditioning, and are warrantied under the New Home Warranty Program.
HeadStart on a Home was announced in March 2011 to 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.
Municipalities may apply for the loans on behalf of builders and developers. Funding of more than $200 million is available for the program through the Federal Immigrant Investor Program, which flows through the Saskatchewan Immigrant Investor Fund Inc. (SIIF), managed by Westcap Mgt. Ltd. (Westcap). SIIF is a subsidiary of Crown Investments Corporation.
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, Diamond North, Innovation, North Valley, 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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