The SV Rental Corporation, along with the federal and provincial governments, celebrated the progression of a new affordable housing complex on October 12 in Estevan.
The project received $1 million in funding through the federal/provincial Investment in Affordable Housing 2011-2014 Agreement, to enable six of the units to be affordable rental housing.
The 12-unit townhouse style complex, located at 1621 First Street, will assist families in Estevan with a housing need. The six units are comprised of four two-bedroom units and two three-bedroom units.
Souris-Moose Mountain MP Ed Komarnicki and Estevan MLA Doreen Eagles made the announcement.
"Our government is committed to working with its partners to develop and implement local solutions to housing in Saskatchewan," said Komarnicki. "This investment will help families access safe and affordable housing that meets their needs."
"I am very pleased that so many people have come together to help more Estevan families find housing that they can afford," Eagles said. "Our goal is to continue to support the creation of additional housing supply across the province. By working together with our partners, we are well on the road to achieving that goal."
"SV Rental Corporation is pleased to develop six affordable rental units in Estevan as a direct result of our partnership with the provincial and federal governments," SV Rental Corporation President John Aston said.
"These six new units will provide preferred accommodations for young families in Estevan, at affordable rental rates. We are proud to have been selected as the proponent for this project and look forward to future opportunities to partner on affordable rental initiatives."
This funding comes as a result of the recently announced $55 million Investment in Affordable Housing 2011-2014 Agreement. Under the agreement, the provincial government will use the funds to create new and renovate existing affordable housing for households in need.
The federal government, through the Canadian Mortgage and Housing Corporation, will invest more than $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing.
In Saskatchewan, this represents some 29,900 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, people with disabilities, recent immigrants and Aboriginal people.