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

project.



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

Saskatchewan communities."



"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.



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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