Government provides funding for Elder's lodge in Regina
- EFN Staff | December 16, 2014
The Government of Canada and the
Province of Saskatchewan, along with Silver Sage Holdings Ltd., announced today
the start of construction of a new rental housing development. The project will
consist of 26 units located at what will be known as the Silver Sage Elder's
Lodge in Regina.
The Honourable Candice Bergen,
Minister of State (Social Development), along with the Honourable Donna
Harpauer, Minister of Social Services and Minister responsible for Saskatchewan
Housing Corporation, made the announcement.
"Projects like this one are
concrete examples of governments working alongside community partners to find
solutions to housing needs," said Minister Bergen. "When completed,
this lodge will give individuals in Regina, including seniors, more housing
options. Our Government is proud to have contributed to this project."
"Our government continues to
work with partners to create safe and affordable homes for Saskatchewan seniors
with low incomes," said Minister Harpauer. "The development of affordable
homes like the Silver Sage Elder's Lodge ensures a better quality of life for
Saskatchewan people. Improving housing availability and affordability is an
important component of Saskatchewan's Plan for Growth. We are proud to work
with the Government of Canada and Silver Sage Holdings Ltd., to put this
commitment in action."
"We are excited and proud
that the project is underway," said Silver Sage President & CEO
Maynard Sonntag. "This has been years in the planning by our First Nations
leaders and may, in fact, be the first of its kind in Regina. It speaks to our
organization's vision to provide safe and secure, quality housing for our
Elders."
The approximate total cost of the
project is $7.05 million. The federal and provincial governments are jointly
contributing $2 million under the Canada-Saskatchewan Investment in Affordable
Housing 2011-2014 Agreement. The funding balance of approximately $5.05 million
will be provided by Silver Sage Holdings Ltd. through mortgage financing and
cash equity. The City of Regina will be contributing $390,000 for the project
as part of their Capital Housing Incentive.
The Silver Sage Elder's Lodge
project consists of 26 units. The Government of Canada and Province of
Saskatchewan's funding will go toward 16 one-bedroom units, each approximately
707 square feet (65 square metres). The remaining 10 units, fully funded by
Silver Sage Holdings Ltd., will be two-bedroom units and each of these units
will be approximately 856 square feet (79 square metres). The building will be
located near amenities and services, with access to transportation.
This funding comes as a result of the $55 million Canada-Saskatchewan Investment in Affordable Housing (IAH) 2011-2014 Agreement. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.
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