The Town of Osoyoos is inviting interested families to apply under Council’s approved Near-Market Affordable Housing (NMAH) Program.
The Town issued a press release on Monday stating the first designated area for applying to the program is the Town’s Richter property subdivision south of the new Osoyoos firehall.
The program requires that builders who purchase subdivision lots set aside 15 per cent of their completed homes as affordable units and sell each of them at a 15 per cent discount below appraised value to eligible households, as approved by the Town’s citizen-volunteer Affordable Housing Authority (AHA).
Preference will be given to younger working families especially those with school-age children, and depending upon the number of applicants a waiting list may be generated., said Alain Cunningham, the town’s director of planning and development.
Program recipients can only resell their homes at a controlled profit within a 30-year time period to keep them in the affordable housing pool.
Servicing of the 26-lot Richter subdivision is near completion ready for lot sales to the private sector, including four affordable housing lots to be interspaced among the full-market housing, he said.
The Town has signed an option to purchase agreement with Hart Buckendahl of Osoyoos-based, Ellcar Construction for up to 20 lots to build their “Meadowlark Place” housing development, with their first phase consisting of four single-family homes including two affordable units, and one duplex.
All single-family homes will be built on narrow frontage lots to save land and servicing costs but are ample-sized to accommodate two-storey, 2,400 square foot homes for family living, he said.
A tot lot will be included in the subdivision.
Although the Town has selected its AHA committee members, application forms and details are not yet available.
Still to come are Council’s NMAH program guidelines, the subdivision plan showing the location of the first two affordable homes and architect-designed house examples from Ellcar.
An affordable home application form can be accessed on the Town’s website under the tagline Affordable Housing Meadowlark Place and may be submitted digitally or by hand to the undersigned.
The site also contains Council’s NMAH program guidelines, the subdivision plan including the first two affordable home locations, and architect-designed house examples from Ellcar Construction.
All affordable home exteriors will be identical to comparable market units though some interior details may differ.
All affordable homes will be reasonably priced and in addition the Town will gift 15 per cent of the appraised value, with the program recipient being responsible for the remainder.
This exciting new public-private enterprise will expand home choices for current and possibly future Osoyoos families to assist community, social and economic sustainability, and return taxpayer value for use of public lands.
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