Steinbach's Lexington Village: Beacon of hope in Canada's housing crisis

Lexington Village in Steinbach is getting attention for being an affordable solution to Canada’s housing crisis. 

Rural Manitoba Economic Development (RMED) Corporation invited communities, developers and interested parties to an information session on Tuesday to learn more about this unique made-in-rural Manitoba housing solution. They gathered under a tent in the greenspace in the centre of this residential development to hear more about the model used to allow more people an opportunity to own their own home. 

“This remarkable vision and partnership addresses a critical affordable housing shortage and demonstrates how rural economic development initiatives can bring solutions to national issues like housing,” says Margot Cathcart, Chief Executive Officer at RMED.  “By easing the financial challenge of a traditional down payment, families will be able to put down roots by purchasing their own home in Steinbach.” 

Cathcart believes this model can be replicated in other communities, not just in Canada but also in other countries. 

Michelle Bezditny, Director of Economic Development, Steinbach Economic Development Corporation, says affordable housing is key to a healthy economy. 

“This innovative housing project promises significant economic benefits for our community. By providing affordable and modern housing options, we not only address the pressing need for quality living spaces, but also stimulate economic growth,” says Bezditny. “This development attracts new residents, expands and supports the local workforce, and boosts local businesses by increasing demand for goods and services.” 

L-R: Waldo Neustaedter of Century 21 and Len Neufeld of Three-Way Builders partnered to create Lexington Village, an affordable housing development south of McKenzie Avenue, west of Brandt Street. 

Communities are taking a close look at the model used to help people afford to buy their own home. With a one percent down payment and a price that is eight percent below market value, families who want to live, work and play in the community for a minimum of three years can become a homeowner. 

“This initiative also provides a case study for other communities so that they too can work to create housing that is within reach, all in their own backyards,” says Steinbach Mayor Earl Funk. 

A total of 474 homes have already been built and are mostly occupied. More new homes are being built in phase two of the project.

Waldo Neustaedter of Century 21 and Len Neufeld of Three-Way Builders partnered to create Lexington Village. 

“I think it's come along really well,” says Neufeld. “We're sold out on our last phase here and that is a tribute to Waldo and his team.” 

Neufeld says the vision was to provide something that would add value to people’s lives, removing barriers and paving the way for people to purchase their own home. They realized a low down payment would be important for this model to work. 

“As I think many people know, that's really the big issue with getting into homes,” he says. “And we were able to provide a quality home at an affordable price." 

Neustaedter says they are getting good feedback from those who have moved into Lexington Village. 

“They enjoy the neighborhood; they enjoy the quality of the build that Len and his team provide through Three-Way Builders. He delivers a quality product, and they like the program.” 

The Lexington Village development is moving along ahead of schedule and this pair is now working on an affordable housing project in Kleefeld.

Steinbach Mayor Earl Funk says, "Local business is providing solutions and incentives so that young families and newcomers can afford a down payment that brings housing within reach for many who could not otherwise afford it."