News Release - January 5, 2001
CREATIVE SENIORS' HOUSING IN YORKTON
The Province of Saskatchewan, the City of Yorkton and seniors have joined
forces on a new housing development in the city.
The Yorkton Seniors' Life Lease Project will be an apartment complex of up to
50 units, designed for seniors age 55 and up.
Saskatchewan Housing Corporation, with a contribution of up to $2.25 million
from the Centenary Fund, is funding 45 per cent of the approximately $5-million
The Centenary Fund was established to help accelerate social housing and a
variety of other important capital projects over the next four years, leading
up to the province's Centenary in 2005.
The City is providing 10 per cent of the funding for the project, and the
residents themselves will provide the remaining 45 per cent by investing equity
from their former homes.
"Saskatchewan Housing Corporation has been working closely with communities
over the past number of years to develop imaginative, cost-effective social
housing solutions," Municipal Affairs, Culture and Housing Minister Jack
Hillson said. "The Yorkton Seniors' Life Lease development is just the latest
in a series of projects tailored to address the unique needs of individual
"This is a fantastic opportunity for the City of Yorkton. For some time, our
Director of Economic Development, Gordon Bulmer, has been focusing some of his
efforts on seniors' housing as a need for Yorkton," Yorkton Mayor Phil De Vos
said. "With the development of this project by the province of Saskatchewan,
Saskatchewan Housing, and the City of Yorkton, I encourage eligible citizens to
seriously consider investigating the life lease concept."
To qualify, residents must be 55 years of age or older and have an annual
income of no more than $22,500 for a couple or $18,500 for an individual.
Construction of the project is dependent on sales, but is expected to begin no
later than summer 2001, with completion expected by early 2002. The Yorkton
Housing Authority will be responsible for the marketing and ongoing operation
of the project after completion.
For more information, contact:
Maureen Boyle Terri Eger
Municipal Affairs, Culture and Housing Communications Co-ordinator
Regina City of Yorkton
Phone: (306) 787-5959 Phone: (306) 786-1707