INNOVATIVE HOUSING ON THE HORIZON

New and innovative housing is becoming a reality in Saskatchewan thanks to a combination of home-grown creativity and funding from The Saskatchewan Housing Corporation's Summit Action Fund. The first intake of applications for the Summit Action Fund has resulted in the selection of four projects for a total of $1,163,260 in provincial government grants.

These new projects will provide financial assistance to 160 first-time home buyers in Saskatoon, Regina, and Humboldt; build nine new housing spaces for adults with intellectual disabilities in Regina; develop three new affordable houses in North Central Regina; and implement a Regional Housing Action Plan that allows communities to meet the housing needs of growth. Details of these initiatives can be found in the attached backgrounder.

"I am very excited about these projects," Minister responsible for Saskatchewan Housing Corporation June Draude said. "These innovative solutions will help increase the housing supply in Saskatchewan - an important goal of the provincial housing strategy."

"The funding available through the Summit Action Fund is coming at the right time," Innovative Assets Co-Founder and CEO Tyler Mathies said. "With the increasing economic activity and growth in Saskatchewan, provincial support for affordable housing will help drive innovation in the housing sector and contribute to the development of many successful public-private housing partnerships throughout the province."

The Summit Action Fund is designed to increase housing supply across the province through creative, flexible approaches and innovation in the housing sector. The fund provides a grant of 30 to 70 per cent of eligible project costs, or to a maximum of $500,000, to housing stakeholders who have creative housing solutions that are not currently covered by existing housing programs.

The second call for proposals is currently underway with a deadline of January 16, 2012. Interested applicants can find more information by contacting the Saskatchewan Housing Corporation at 306-787-4177, toll-free at 1-800-667-7567 or by visiting the website at www.socialservices.gov.sk.ca/housing.

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For more information, contact:

Andrew Dinsmore
Social Services
Regina
Phone: 306-787-8689
Email: andrew.dinsmore@gov.sk.ca