New affordable condo project introduced in Saskatoon
SASKATOON – The province provided $1.98 million in financing to the developer of a condominium project in Saskatoon’s Riversdale neighbourhood.
This project is part of ‘HeadStart on a Home’ or HeadStart, a government program designed to help entry-level buyers afford housing.
On Friday, twelve Saskatoon individuals/families celebrated ‘Mosaic’, the new condominium to be located at 313 Avenue D South.
Mosaic consists of two-storey condominiums with an enclosed parking garage for each unit. The project offers studio, one- and two-bedroom units ranging up to 1,446 square feet.
“They’ll hit the market at about $210,000, and comparable units would hit about $260,000,” said Wanda Hunchak, Westcap Management VP.
“So we try to ensure that the units we construct under HeadStart hit at or below the average MLS sales price for comparable units.”
The fund manager of HeadStart, Westcap, says there are currently 912 homes either completed or under construction.
HeadStart was announced in 2011 to finance construction of entry-level homes in Saskatchewan.