A joint venture by five First Nations in partnership with Conexus Credit Union and other financial institutions will help urban band members access affordable housing and become homeowners.
Prairie Lodge Urban Housing Inc., which is jointly owned by the Pasqua and Cowessess First Nations, has expanded its program to include the White Bear, George Gordon and Carry the Kettle First Nations.
The company has already built five homes in Regina which have been turned over to off-reserve band members under the affordable housing-home ownership program.
But as funding under the federal-provincial affordable housing program dried up, the company switched focus. In the past year Prairie Lodge put all new construction projects on hold while it shored up its organizational structure as it awaits word on federal-provincial funding for a new affordable housing program.
"We are looking at doing some other projects,'' said company spokesman Ted Goodnough, explaining the joint venture with a number of bands provides the company with a larger financial base and more clout in the marketplace.
"We felt we could meet the needs of the homeowners a lot easier, as well as rentals (affordable apartments for students and seniors) if we had a number of bands involved. We probably would have more clout with government and everybody else as well.''
Goodnough said the company's mission is to make available affordable housing to those families that otherwise would not have the ability to own their own homes and to revitalize older neighbourhoods in the city.
To be part of the affordable housing program individuals must qualify for a mortgage, meet the criteria laid out under any affording housing program, and participate in a financing and home maintenance program. Each qualified homeowner will also have the option of contributing $3,000 or more in sweat equity.
Goodnough said the company will be working with the city on a five-year plan to build infill housing and develop multi-family rental units on vacant city land. The hope is to build 10 houses per year.
Prairie Lodge is also hoping to set up a construction company to build the homes and provide employment opportunities for people who are on a trades training program.
Category: Community