Plans for developing a residential complex at Swift Current were commemorated with a groundbreaking and presentation ceremony. The venture by D3 Developers will obtain funds of $2 million from the Government of Saskatchewan via the HeadStart on a Home Program.
The project at Chinook Residency will include 16 units located at 825 Gladstone Street East. The two-bedroom, one and a half bathroom units will be in the range of 1112ƒ{1152 sq. ft. in two two-storey, eight-unit structures. Each unit will have a den or office room, a private balcony and an independent entryway. Swift Current City will offer a tax reduction for up to five years for buyers. Tax savings are anticipated to be around $1500ƒ{$2000 annually. The residences will be ready for occupation by November/December 2012.
The HeadStart on a Home Program is a concept valued at $200 million developed by the provincial government in 2011. It will fund about 1000 new entry-level residences through 5 years. Municipalities being the program applicants, builders can avail building loans of up to 90% of the cost to provide new residences. Funding is at a fixed interest rate of 4% p.a. without the stipulation of pre-selling the residences. The sale price for the residential units will be on par with or below the MLS average sale price for identical units in other communities. The residences include condominiums, multiple portions, one-family homes, or modular and turnkey units.
The program is concretized primarily by Westcap Management along with its Credit Union community collaborators such as Affinity, Advantage, Cornerstone, Conexus, Diamond North, North Valley, Innovation, Prairie Centre, Plainsview, , Spectra, Synergy, and Weyburn. As pioneers of Saskatchewan financial sector, Westcap and its partners will ensure that the program reaches all corners of Saskatchewan.
Source: http://headstartonahome.ca/