Low-interest loans offered for detached suite construction in Whitehorse

The Yukon Housing Corp. made the announcement, with the details including a low-interest loan of up to $25,000 to make a liveable detached unit, also known as a garden home, according to a report by CBC news. The aim is to encourage more rental options to be built.

The vacancy rate has hovered just above 1% lately in Whitehorse, the largest city in Yukon which has attracted new residents with its low unemployment and mining jobs.

About $150,000 has been budgeted for the program, according to the article, and the new interest rate has been set two points below the current five-year mortgage rate.

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