Some Whitehorse residents will be receiving an unconventional Christmas present this year: A contract for the purchase of a home in Whistle Bend’s community land trust housing initiative, Project 1096.
At a press conference attended by MP Brendan Hanley, Premier Ranj Pillai and Whitehorse Mayor Kirk Cameron, Northern Land Trust board member Tyler Heal told reporters that 25 of the complex’s 32 units have been sold. The press conference took place outside of the initiative's construction site in Whistle Bend.
Pillai called the project “remarkable,” and said it will transform housing availability.
The public can still apply for the seven remaining units on a first-come-first-serve basis, said Heal.
The Northern Land Trust will be putting out contracts for the selected buyers of the 25 units in the coming months, said Heal.
“Everyone should be all fully sold by the holidays here. And then looking forward to, yeah, people starting to move into the units into next year,” said Heal.
The Northern Land Trust, a non-profit, received a donation of land from the Yukon government – worth $1.2 million, according to Premier Ranj Pillai – which will be held in trust exclusively for affordable housing.
Hanley said the federal government contributed nearly $2.2 million towards the project through the Affordable Housing Innovation Fund and Pillai said the territorial government also contributed around $5 million in loans and other contributions.
The City of Whitehorse also gave the non-profit a $60,000 grant in housing incentive and waived $69,920 of development cost charges.
The units are reserved for those who meet income and asset thresholds. Units are priced from roughly $163,000 to $393,000. For example, one wheelchair-optimized one-bedroom unit is listed for $163,770 to $164,388: applicants must have an annual income no higher than $54,000.
Baked into the agreement is that when a resident sells their unit, they must abide by price controls. The unit’s price is only adjusted for inflation and any renovations or upgrades, thus being immune to the vacillations of the housing market.
"I think we also are starting to see some rare opportunities of surplus public lands becoming available for development, and we do hope that those continue to be directed towards not-for-profit organizations, and that public land remains in public hands," said Heal during the press conference.
--with files from Jake Howarth
Contact Talar Stockton at talar.stockton@yukon-news.com
