Foxcroft
A unique affordable homeownership opportunity
6 Units Sold - 5 Units available
The Province of British Columbia and the Canadian Mental Health Association (CMHA) Shuswap/ Revelstoke branch are pleased to offer you an opportunity to own your own new home in Salmon Arm at an affordable price.
Foxcroft is an exciting, conveniently-located condominium offering quality housing for today’s lifestyle at an affordable price. If you’ve been waiting for a chance to step up to home ownership, Foxcroft may be what you’ve been waiting for.
About Foxcroft
Centrally located at 781 2nd Street SE, in Salmon Arm; Foxcroft features 11 strata-titled, two-bedroom apartment homes close to shopping, activity centres and amenities. With a floor plan totaling approximately 800 square feet, Foxcroft homes are comfortable, affordable, modern and come with a complete suite of new appliances: refrigerator, stove, dishwasher, microwave oven, and a washer and dryer.
In addition to the 11 ownership homes, the development features a new 28 unit rental building with on-site management provided by CMHA.
To ensure the future affordability of Foxcroft units, a resale control agreement and an option to purchase by the Province will be placed on title.
About You
Foxcroft isn’t for everybody. But it definitely is for you if:
• You’re a resident of BC and have been for at least 1 year
• You’re at least 19 and a Canadian citizen or landed immigrant
• Your gross annual household income isn’t more than $65,000.00
• But it is at least about $35,000 (there may be some exceptions)
• Your total assets are less than $100,000… and
• You’d rather own your own home than pay rent!
About You + Foxcroft
Foxcroft is now ready for you to move in and here’s how you can get started.
Applicants for homes in Foxcroft need to verify their income and residency. How? Well, copies of your most recent income tax returns, Canada Revenue Agency Notice of Assessment, proof of your current gross monthly income and/or a letter from your employer would be good way to prove you meet the lower and upper income requirements. Government ID, utility bills and/or rental leases prove residency verification.
Prices at Foxcroft are $124,000 plus HST, provincial property transfer tax (if applicable) and closing costs. All applicants must be pre-qualified for an amount sufficient to cover the purchase cost from a bank, credit union or mortgage broker.
Selected purchasers will have to attend a one-day seminar on Affordable Homeownership. Don’t panic, there isn’t a test! We just want you to fully understand what your responsibilities are, what our responsibilities are and how we’ll work together to make Foxcroft a great neighbourhood — your neighbourhood.
Here’s what you need to do:
1. Come and view the property
2. Complete Application
3. Confirm your income and residency
4. Pre-qualify to purchase the property
If Foxcroft sounds like the kind of home and neighbourhood you can picture yourself in, please be sure to contact us to view the units, and complete an application form.
For more information call David Strle of Century 21 at 250 833 8391.
http://www.foxcrofthousing.ca/main/about_foxcroft.asp
About Foxcroft
The Canadian Mental Health Association Shuswap/Revelstoke Branch (CMHA) approached the Province in December 2007 about a partially completed development at 761 2nd Street, S.E. in Salmon Arm. The Province purchased the development property with two buildings for $5,549,360 to meet the need for affordable accommodation in the community.
Foxcroft has 11 two-bedroom units, each about 800 square feet. The building has 16 designated parking stalls including five for visitors. The units at Foxcroft will be offered for sale to buyers who meet the eligibility criteria.
The other building, Foxridge, has 4 studio and 24 one-bedroom units and has been occupied since May 2009. CMHA will operate this building under an operator agreement with the Province to provide subsidized rental housing for low income adults at risk of homelessness.
Foxcroft forms 11 units in a development of 39 strata titled units. The owners of the strata units will make up the members of a strata corporation and are responsible for managing and maintaining the common property and common assets of the development for the benefit of all the owners. The strata corporation has been divided into two sections, each section will operate independently of the other and elect executives to administer their building’s regulations and operating budget.
The CMHA Shuswap/Revelstoke is one of 23 chapters in British Columbia belonging to the national organization. CMHA’s primary goal is to develop support systems for individuals with mental illnesses, including life skills and pre-vocational training, socialization, job placement, counselling referrals, housing aid, community awareness and education. The society promotes the mental health and supports the resiliency and recovery of people experiencing mental illness.