Options for Homes (Options) breaks ground on its 14th condo development in the GTA. In attendance, will be the Town of Milton Mayor, Gordon Krantz, and some of the 116 families set to move into the new affordable condo community, Jasper Condos.
Options for Homes is a non-profit social enterprise, offering every purchaser 10% of their suite value in down payment support for a total o $3.7 million dollars invested in second mortgages. Options also made 10 suites available for purchase to Halton Region, which will become affordable rental units. Combined, these initiatives are helping many families who otherwise could not afford to own a home in Milton.
Jasper Condos will be conveniently located next door to the Milton GO station at 716 Main Street in Milton, and is slated for occupancy in Fall 2018. VanMar Constructors is the builder of the development.
Options for Homes provides some relief to people who can afford a monthly mortgage but are challenged to save the down payment for a home. Jasper Condos will provide high-quality housing for people of all income levels, ages and backgrounds. Senior residents and downsizers at Jasper Condos will be able to age in place while enjoying the convenience of condo-living in Milton.
“Milton was attractive because of the growth happening in the area. It’s accessible and conveniently located close to metro Toronto, but it still retains its small town charm,” Spokesman Vashti Boateng explained. They have developments planned for Weston Village, and Carlton St in Toronto. One development is already accepting occupancy in Danforth Village. The loans aren’t repayable until residents move, or sell their home.
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