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More laneway suites for investors

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Guest | 18 Mar 2014, 05:35 AM Agree 0

With Regina’s population expected to triple over the next 30 years, investors are eager to tap into the Saskatchewan market.
City officials may be gift-wrapping this opportunity to investors if they proceed with another pilot project for a new style of rental housing next week.
The proposed offering – laneway suites that use the second floor of a two-storey garage – is currently being debated by the City of Regina. The new development is being earmarked for Harbour Landing, one of the newly constructed communities in Regina.
Laneway homes are secondary, stand-alone suites that share the properties of main residences. A similar project in the new subdivision, Greens on Gardiner, was given the green light last June. Laneway homes have increased in popularity in Western Canada due to limited land space and housing stock, particularly in Vancouver.
This new 20-lot development includes 14 one-bedroom suites, measuring 700 sq. ft. and six one-bedroom suites at 540 sq. ft. each.
  • Bill de Mooy | 19 Mar 2014, 12:15 AM Agree 0
    As second floor of a two-storey garage, these Laneway homes at Harbour Landing are more like "coach houses" then rather than "cottage homes" which are more suitable to seniors. Do I assume these proposed Laneway suites will be permitted for rental use for the home owner only or can an investor buy the home and rent out both the home and the laneway suite?
  • Robert Atkinson | 19 Mar 2014, 10:01 AM Agree 0
    There is a community in Markham Ontario called "Cornell" that makes use of this type of homes and they are very popular. The title rests with the owner of the land and these are built over the garages so I can't foresee the city approving lot subdivisions for the garages to be owned separately.

    These offer GREAT value to the home owner as they often rent for $900 and up.
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