News Release - August 24, 2012
NEW RENTAL AND AFFORDABLE HOUSING BUILDS IN SWIFT CURRENT
Twenty-two good quality, safe rental suites for families officially opened today in Swift Current. The province, through Saskatchewan Housing Corporation (SHC), provided $2.4 million toward the new Silver Sage rental housing development. Silver Sage Holdings Ltd, is a non-profit housing organization dedicated to housing First Nations people in well maintained and affordable rental units.
"One of the priorities for our government is housing as we meet the challenges of growth in our province," Social Services Minister June Draude said. "Since our government took office we've completed 1,758 affordable rental housing units with an additional 328 in various stages of construction. We have committed $344 million over the next five years to build another 12,600 new rental and homeowner units as well as upgrade and renovate about 1,100 more with this investment. "
"These new homes will help address and alleviate the need for affordable housing in Swift Current," Silver Sage Holdings Board Chair and File Hills Qu'Appelle Tribal Council Chairperson Edmund Bellegarde said. "This development supports our organization's founding principle that recognizes our Treaty Right to Shelter for our First Nations members living off reserve. We will continue to work with Saskatchewan Housing Corporation to give our off-reserve members an opportunity to live in affordable housing and maintain a better quality of life."
"We have been pleased to work with the Saskatchewan Housing Corporation on this exciting project," Silver Sage General Manager Maynard Sonntag said. "With this new development, Silver Sage now has nearly 500 affordable housing units for off-reserve First Nations people."
Located close to the downtown area, services and shops at 755 - 1st Avenue North West, the development consists of two two-bedroom and 20 three-bedroom townhouse style units, for a total of 22 homes. The total cost of the project is approximately $4.7 million. Of that amount, SHC contributed $2.4 million, with the funding balance provided by Silver Sage.
In addition to the Silver Sage housing development, construction of a new condominium development for 16 entry-level homeowners is underway in Swift Current, with $2 million in financing assistance from the Government of Saskatchewan through the HeadStart on a Home program.
The goal of HeadStart on a Home is to help ensure that housing is accessible for everyone. Westcap Mgmt. Ltd. and Saskatchewan credit unions administer the HeadStart program and have provided more than $64 million in construction financing for entry-level projects to date, including this project in collaboration with the City of Swift Current. The Chinook Residency project will consist of 16 two-bedroom, 1 and a half bathroom units in two two-storey, eight-unit buildings. Eight units are expected to be completed in November 2012, and the remaining eight in December 2012.
Under HeadStart on a Home, 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.
For more information about HeadStart on a Home, visit the website at www.headstartonahome.ca.
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