Paradise encourages homeowners to add units

By Chad Feehan / Local Journalism Initiative Reporter

Paradise Town Council is reminding residents to take advantage of a provincial government program that supports creating apartments in already existing homes.
Deputy Mayor Kimberley Street shared the details of the pilot program to council last week, which would see qualified homeowners receive a forgivable loan up to 50 per cent of the cost of renovations, to a maximum of $40,000.
“These loans will be fully forgivable provided the home is rented below the market rate for a minimum of five years,” she explained. “Rental rates will be established by Newfoundland and Labrador Housing Corporation based on rental market reports.”
This effort to increase housing options comes just months after a series of approvals of new subdivisions within the town.
In December of last year, council amended the development regulations to allow for the construction of 106 residential units and four commercial buildings in the Market Ridge area near Kenmount Road.
Councillor Glen Carew noted at that time the development includes affordable rental units.
In addition to a subdivision approval for the Deborah Lynn Heights and Clarke’s Hillview area last summer, council approved an application for an 111-lot residential subdivision between Octagon Pond and Trenton Drive, which would comprise single-detached homes, semi-detached homes, a daycare, and a condominium building containing commercial businesses and second floor apartments.

Leave a Reply

Your email address will not be published. Required fields are marked *