Local and national leaders gathered in Saskatoon’s Mount Royal neighbourhood Thursday morning to mark the grand opening of Jubilee Terrace, which will provide both market rate and affordable housing for senior citizens. The facility offers 36 housing units for seniors, 20 of which are “affordable” non-market units, while the remaining 16 are market rate.
Grand Opening Ceremony
Saskatoon Mayor Cynthia Block and federal Secretary of State for Rural Development Buckley Belanger cut the ribbon to open the new residence. “Any additional housing that we can add to our city right now is going to be a win for everyone,” said Block.
John Knoch, president and CEO of Jubilee Residences Inc., which will operate the facility, explained that people who meet certain income thresholds will be eligible to rent an affordable unit, where the price will be set based on their income. Knoch said a mix of affordable and market units gives the organization the ability to fund operation of the facility. While grants were provided for construction, Jubilee Residences, a not-for-profit corporation, will be responsible for covering the facility’s expenses.
Funding and Construction
The project had a budget of just over $11.5 million. Knoch said they are “optimistic” the final price tag will come in just on budget or even slightly below. The initiative was a collaboration involving the City of Saskatoon, Government of Canada, and Jubilee Residences. The federal government contributed just over $7.4 million through the Affordable Housing Fund, while Jubilee Residences provided $3.5 million. The City of Saskatoon’s contribution was $540,000.
Construction took 15 months, which Knoch said is a “reasonably fast” turnaround. He credited 3twenty Modular, which was responsible for construction, for not only the timeline, but also how nicely the finished project turned out. “People wanted this to be successful and we believe that it has been,” he said.
Occupancy and Future Plans
While the facility marked its grand opening Thursday, Jubilee Terrace welcomed its first residents near the end of May. More are expected to move in over the summer months. Currently 24 out of 36 units are occupied. Block also credited 3twenty Modular and its founder Bryan McCrae for making the project a success. She added there are likely to be similar collaborations in the future involving the federal government, city, and community partners.
Belanger said federal support for Jubilee Terrace is part of the government’s commitment to see 500,000 new homes built every year across Canada for the next four years. “It’s all about housing Canadians in a safe healthy environment that’s also secure,” he said. Belanger, the MP for Desnethé-Missinippi-Churchill River, said announcements similar to the one in Saskatoon Thursday are being made across the country. He added the government is aware of the need to be flexible when looking at potential projects.
Impact on the Community
Knoch noted that the organization will be operating Jubilee Terrace for the long term. “Now starts the 30 to 40 years that we’re going to be operating Jubilee Terrace,” he said. The opening of the new facility is vital for the city, according to Mayor Block, as it addresses the pressing need for affordable seniors housing in Saskatoon.
