Condo Units a good place to start
On the South Bank of Moose Jaw at 221 Main Street South, HeadStart on a Home Development celebrated the grand opening of Plaxton Ridge Condominium; a 15-unit, three-storey apartment-style condominium. Due to the expanding growth and prosperity of the province in all areas and sectors of business, Municipalities and companies need affordable entry-level housing to attract workers and help accommodate the growing population. The Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation feels that the “most important job she does is to fulfil someone’s dreams of owning a home,” she said. “It is wonderful to see so many people working together to make a difference for Moose Jaw families who need some extra help to buy an entry-level home,” said Draude. “The goal of Saskatchewan’s Plan for Growth is to capture the opportunities and meet the challenges of a growing province. A key part of that is securing a better quality of life for Saskatchewan people. Saskatchewan is a model,” she said. “On behalf of a grateful government, we are proud of your model here in Moose Jaw.” HeadStart on a Home was announced in March of 2011 to finance construction of at least a minimum of 1000 new entry-level homes over the course of the next five years that will encourage renters to buy. It is a major economic program announced to increase availability of entry-level housing across the province of Saskatchewan. Construction loans of up to 90 per cent on the construction costs of the homes (land included) at an interest rate of four per cent are being offered to eligible builders and developers; whereas municipalities may even apply for the loans on behalf of them. In December of 2011, construction on Plaxton Ridge began with an estimated total project cost of $2.8 million. These 15 apartment style two-bedroom units are priced between $189,000 and $199,000 including GST and are furnished with five appliances. The units also feature a den, one bathroom, balcony and central air-conditioning and are under the New Home Warranty Program. This past January, 2012, participating Credit Unions and HeadStart on a Home announced the HeadStart Equity Builder Program, a major commitment by Saskatchewan’s leading credit unions of up to $10 million toward down payment assistance for purchasers of new homes constructed through the HeadStart on a Home Program. Loans will be provided for down payment assistance to a maximum of 5% of the purchase price, repayable over five years. Mayor Glenn Hagel addressed the concern for housing in Moose Jaw. “From 2006 to 2011, the entire growth in Moose Jaw was in the 20 to 30’s age range, greater than our city’s growth,” he said. “The face of the city is getting younger in demographics and it is critical for them to find a place to live that they can afford so they can put down roots here.” “This project is not HeadStart on a house but it’s HeadStart of a Home!” exclaimed Hagel. Twenty-five year old Mandy Dykstra is one of the new tenants at Plaxton Ridge and is really happy to be in her first entry-level home. “It was easy to go through the process,” she said. “I applied for the $10,000 grant and was approved and from then on I was able to look at the units. “It’s really exciting to own my own place!” she said.