The Government of Saskatchewan recently announced that the Secondary Suite Program will have an additional $2 million allocated to help develop up to 100 secondary suites over the next couple of years. The purpose behind this initiative is to speed up the development of affordable housing by increasing the supply of rent-able suites in the province.
How the program works is financial assistance is provided to build or renovate a secondary suite for eligible homeowners and rental property owners. With the recent enhancements made to the program, the level of assistance has been increased, however the loan forgiveness period will be reduced from 10 to 5 years. These changes are effective January 1st, 2012.
A secondary suite is a self-contained living unit that is located within an existing single-family home. Typically these suites include its own separate entrance, kitchen, bathroom, and bedroom(s).
Interested homeowners and rental property owners can get more info on the program by contacting the Saskatchewan Housing Corporation or by visiting the following links: