There could be another 20 “moderately priced” homes in the Osoyoos community in the near future.
The Town of Osoyoos announced Thursday it has signed an option to purchase agreement with Ellcar Construction for 20 of 26 residential lots to be subdivided in an area of the community known as the Richter Property.
The property is the remaining lands adjacent to Hwy. 97 that were purchased by the Town in 2009 to enable the development of the new fire hall.
The Town has also provided Ellcar with a “first right of refusal to purchase” for the remaining six lots.
“Town Council is very pleased to sign this option to purchase agreement with Ellcar Construction, a local company with a strong history of development and construction in Osoyoos,” said Osoyoos Mayor Sue McKortoff.
“Ellcar Construction has built many homes in Osoyoos using local labor and supply companies.”
According to the Town, EllCar’s intention is to build 20 moderately priced homes that will assist the Town in achieving its goals of providing affordable housing in the community.
Housing units to be developed will include single family and duplex homes, including three units of subsidized housing which will enable the Town to meet its commitments to the Agricultural Land Commission to have the land removed from the Agricultural Land Reserve.
The purchase price will be determined through pending land appraisals.
“With the ever increasing costs of housing there are many people that are being shut out from ever being able to own their own home,” said Ellcar President Hart Buckendahl.
“With the new homes being proposed it will give many people an opportunity to live the dream to own their own property.”
The Town is currently working to finalize the subdivision plan, which will then enable a survey of lands and a subdivision servicing plan to be completed.
Development of area services are targeted for October 2016 and Ellcar Construction is targeting construction of four homes to start in late summer or early fall.