Near-Market Housing Meadowlark Place

Near-Market Housing Meadowlark Place

“YOU CAN AFFORD YOUR OWN HOME”

The Town of Osoyoos is offering qualified buyers a 15% subsidy off the cost of already moderately priced single-family homes in the Meadowlark Place subdivision south of the new Fire Hall.  Two architect-designed affordable homes will be built this summer and two others will follow later.  Ideal for working households with children.

The Near-Market Housing (NMAH) Program will operate in designated areas of the Town of Osoyoos. The Program is intended to deliver lower cost near-market homes at a subsidized discount below comparable market housing to qualified applicants needing assistance for moving to self-sufficiency, particularly younger families. Participating Developers will build and help subsidize a required share of modestly-priced affordable homes in their residential projects as a condition of zoning approval, and will sell them to approved program recipients registered on an NMHA Waiting List by the Town’s Affordable Housing Authority (AHA). * see Policy PLA-017. To guard against affordable home recipients receiving windfall profits from a public program and to maintain the Town’s affordable housing pool, they can only resell their units at market after a five(5) year occupancy.