Released on March 20, 2013
The 2013-14 Budget continues the province’s commitment to the Saskatchewan Advantage Housing Plan, which will invest $344 million in 12,600 new housing units around the province by 2016.
In addition, the province will invest $10 million in a proposed new 605-bed student residence at the University of Regina.
“Our plan is working,” Social Services Minister and Minister responsible for Saskatchewan Housing Corporation June Draude said. “Housing starts, including rentals, are up, vacancy rates are improving and response to our programs from our housing partners is going strong. There is more to be done but we are moving in the right direction.”
Total housing starts in Saskatchewan for 2012 reached 9,968 – more housing starts in one year than in any year since the 1970s. Also in 2012, rental starts hit 1,072, more than in the years 2002 to 2009 combined. At the same time, vacancy rates in five of Saskatchewan’s nine largest centres saw improvement.
“This kind of growth could only be achieved though a truly collaborative effort among industry, community and government,” Draude said. “I am proud of what we have achieved together, and I look forward to our continued partnership on housing in the years ahead.”
With the 2013-14 Budget, the Saskatchewan Housing Corporation will have almost $29 million to support the addition of 605 beds for post-secondary students, development of nearly 1,800 homes, and the repair of another 275 homes across the province, including:
- a $10 million investment in the proposed student residence at the University of Regina;
- construction of 1,300 new rentals under the Rental Construction Incentive, with funding of $6.0 million;
- development of 240 new homeownership units through the Affordable Home Ownership Program, with funding of $1.2 million;
- support for 70 secondary suites, with funding of $1.0 million;
- construction of 40 new homes through Habitat for Humanity with $2.0 million in funding;
- repairs to 275 existing affordable housing units to keep them viable with $3.2 million through the Saskatchewan Repair Program; and
- construction of 140 new government-subsidized rental units with $5.0 million under the federal/provincial cost-shared Rental Development and Capital Rent Subsidy Programs.
In addition, the Headstart on a Home program, a provincial initiative delivered by fund manager Westcap Management Ltd., has approved the development of 819 new homeownership units in 10 Saskatchewan communities. Since this program began in August 2011, 75 households have already been able to move into their Headstart funded home.
-30-
For more information, contact:
Trish Alcorn
Social Services
Regina
Phone: 306-787-0916
Email: trish.alcorn@gov.sk.ca
Cell: 306-536-1479