FIRST TWO DEVELOPMENTS IN PLEASANT HILL VILLAGE ARE SOLD OUT

The City of Saskatoon (City) is pleased to announce that the final city-owned condo in the Pleasant Hill Village Project has been purchased by new homeowners, as part of an affordable housing initiative.

The Pleasant Hill Village Project includes two separate developments with a total of 36 units.  As part of an agreement to attract developers to participate, the City agreed to purchase any unsold units.  By December 1, 2010, the City had purchased 18 units, all ground-level townhouses designed for families.  Four market sales occurred between December 2010 and May 2012.  The units were sold through two realtors, and ranged in price from $189,922 to $241,034.

During its May 28, 2012 meeting, City Council adopted a new 9.99 Percent Sales Incentive  Grant funded from the Affordable Housing Reserve and a five-year property tax abatement for the project.  The adopted sales incentive grant and the property tax abatement have been instrumental in closing sales of 14 units since June 2012.

Since the Pleasant Hill Village project started in 2006, a main objective was to offer home ownership opportunities in a neighbourhood where rental occupancy rates were high.  Pleasant Hill Village is intended to attract families who want to live in a new home, in a community with a new school and wellness centre, daycare, and surrounded by a new park space, playgrounds, soccer fields, and a new seniors’ residence. 

The Pleasant Hill Village Redevelopment Project will continue in 2014, with the release of three more sites for development.  The entire project is expected to be completed in 2015.

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