Ontario Construction News staff writer
The federal and territorial governments have announced more than $3.5 million for Project 1096, an innovative new affordable housing development in Whitehorse’s Whistle Bend neighbourhood.
Construction is scheduled for completion in late 2025.
The project will include 32 condominium units with one-, two-, and three-bedroom homes. Each unit will have a yard or balcony and will be built to universal design standards, ensuring accessibility for all residents.
It’s being called an innovative approach to affordable homeownership. Homes will be available exclusively to individuals and families earning less than 80% of the median household income. Eligible buyers will be selected through a lottery system based on their household income and assets.
The Northern Community Land Trust (NCLT) is leading the project, which is being built on land donated by the Yukon Government. Under the NCLT model, homes will be sold for 30% below market value, based on total development costs rather than market prices.
To ensure ongoing affordability, homes will have permanent resale price restrictions. Owners can only resell their homes at the original price plus increases based on inflation and improvements, ensuring future buyers can access affordable housing.
The project is funded with $2.4 million from the federal government’s Affordable Housing Innovation Fund, $1 million from the Yukon Housing Corporation’s Housing Initiatives Fund, and $60,000 from the City of Whitehorse through a Development Incentive Grant. Additional loan financing of up to $4 million is available through the Developer Build Loan Program, if needed.
“As one of Canada’s fastest-growing cities, Whitehorse is committed to increasing housing options. Project 1096 introduces a new model for affordable housing, and we’re proud to support this initiative,” said Whitehorse Mayor Kirk Cameron.