A couple of young local professionals are the proud owners of a Meadowlark Place property today, thanks to the Town of Osoyoos’ Near-Market Housing program.
Jordan Reniak and Levi Gogolinski took possession of the property this morning as part of a ribbon-cutting ceremony involving Town of Osoyoos managers, builders Hart Buckendahl and Dave Neufeld and real estate agents Eileen McGinn and Lucia Marin.
“It’s really exciting — we’ve never owned a house before,” said Levi, the marketing manager at Stoneboat Vineyard. “We wouldn’t have been able to buy the house otherwise.”
The Town’s Near-Market Housing (NMAH) Program was introduced in early 2017 and intended to deliver lower-cost housing in the community by providing a 15% subsidized pricing discount to qualified applicants, particularly younger families with children.
Participating developers are required to build and help subsidize a required share of these modestly-priced affordable homes in their residential projects as a condition of zoning approval, and will sell them to approved program recipients.
Four near-market homes were built in Meadowlark Place — located west of Hwy. 97 and adjacent to the Osoyoos Firehall — by Ellcar Construction, which is developing 27 units on 26 lots.
A deal is in place for one other near-market home within the subdivision, with the two other units still up for grabs.
“It took a little while for it to take effect, but it’s exciting,” said Mr, Buckendahl, adding the quality of the near market homes is the same as other units for sale within the subdivision.
“We’re selling those for just what it cost to build. There’s no profits in those houses.”