4 families to participate in program to help with future homeownership
New Nunavut Housing Corp., Kitikmeot Inuit Association pilot project to provide training with goal of owning a home
Nunavut Housing Corp., and Kitikmeot Inuit Association are giving four families in Cambridge Bay the chance to own their own homes through a new homeownership pilot program announced last week. (File photo)
Four Inuit families in Cambridge Bay will participate in a new home ownership pilot project created by Nunavut Housing Corp. in partnership with Kitikmeot Inuit Association.
It is about “involving Inuit in a co-operative and collaborative way,” said Ken Kolb, the housing corporation’s director of policy and strategic planning.
“It is very much about working together to create success.”
The housing corporation and Kitikmeot Inuit Association announced the pilot project last week.
The Nunavut Pathway to Homeownership Pilot Program partnership agreement, signed May 16, will provide four Inuit families with a leased unit in a new fourplex in Cambridge Bay.
Each family will make monthly rent payments to the housing corporation.
Families will also participate in a three-year financial literacy program for would-be homeowners. At the end of that training, eligible participants will have an option to buy a home and may receive a grant from the program of up to $30,000 to put toward the purchase, a news release announcing details of the program said.
The training programs are “still in the early stages” of development with Kitikmeot Inuit Association, Kolb said.
In practice, the training programs will provide education on budgeting, interest rates, mortgages and credit ratings to help applicants get a mortgage.
The partnership between the Inuit association and the housing corporation seeks to increase homeownership in Nunavut to address the need for more stable, long-term housing solutions, the news release said.
News of the pilot program follows a flurry of housing announcements over the past year, as the Nunavut Housing Corp., and the Government of Nunavut seek to meet their targets for the Nunavut 3000 strategy.
The GN announced the strategy in 2022, with a target to build 3,000 new housing units in Nunavut by 2030.
“Nunavut 3000 is a multi-pronged approach. It is to address the housing crisis in Nunavut today, but it is also a transformation in the way that housing is delivered in Nunavut, through a multi-partnership approach, a whole of Nunavut approach,” Kolb said.
In May 2023, Nunavut Housing Corp. announced a $105.3-million contract with NCC Development Ltd. to build 150 new housing units in eight communities.
In January, the housing corporation and GN announced construction of 166 new units in 17 Nunavut communities to begin in the fall, also contracted to NCC, for $134.7-million.
Last month, the housing corporation provided details on the Nunavut Affordable Housing Supply Incentive, an initiative to build more units for rent or sale. It will provide 10-year forgivable loans for eligible participants.
Also in April, the housing corporation announced the return of the Homeownership Assistance Program, or what it called HAP 2.0.
The previous program, dating back to the 1980s, provided potential homeowners with a catalogue of options for a home design that were cost-effective and easy to construct. Construction materials were provided for free and homeowners built the homes themselves.
The new Pathway to Homeownership program “is another bridge to home ownership. It’s getting people to transition out of the public housing stream and into the affordable homeownership steam,” Kolb said.
“It’s also about changing the system that is in place today, and helping the youth to generate wealth for the future.”
This appears to be an interesting project which may go some distance to counteract the unsustainable maintenance costs alluded to by others in previous stories. Hopefully the training program will include sessions on simple home maintenance like patch and paint, weatherstripping repair, roof and siding inspection and maintenance, use of air handling and heating systems and other minor tasks required to be a responsible home owner. Good luck to all in this worthwhile project.
This program popped up at a very convenient time for a company that was unable to sell their newly-built fourplex.
Absolutely nothing to do with the announcement. An interesting initiative that has merit and can bring positive change. Haters always gonna hate.
I hope the selection process for the four families is transparent. It would be unfortunate if this initiative, which has the potential to benefit the entire territory, were compromised by favoritism, with Housing or KIA staff members’ families being chosen.
With a population of 35 to 40 thousand it would be fairly hard to avoid family or friends. The old theory of 6 degrees of separation is reduced significantly . A lot of hamlets have only a couple of families who make up most of the community.
It is unclear from this article if the home they will get after the completion of this program is a unit within this 4plex or another one of their choosing. If it is strata ownership in Nunavut sounds like a problem waiting to happen. Nice to see creative thinking on home ownership here but single family units will be the way to go.