Suite Success

It's been 5 months from start to finish but yesterday our Cornerstone Grant funding came in the mail. We started building the secondary suite in July and final approval came around November 15, 2011, seven days later we got our cheque. Here, here and here are the steps we took through the whole grant process.

The biggest delays were permits the longest one took about 6 weeks, our contractor (the guy seriously lost the plot) and finally fireproofing the furnace room ceiling with drywall. 95% of the people we spoke to said it couldn't be done but it was. It took 3 inspections by the city but finally we got it right. The first shot is with gypsum board which is not to code the second two we have drywall and some fireproof duct tape throughout the ceiling.



After our whoops of joy we thought lets do it again. The first attempt was a bit rough going but once you've done the program and been approved it's easier to get your reno team in place and anticipate delays.

Cornerstone Project - III Permit approval

You may have read my other posts here and here about our Cornerstone funded basement suite. We've now come to the point where our permit has been approved by the city and we can formally apply to get funding.

The permit took about 6 weeks and we were lucky to get it so quickly. The time-lines can actually range to 8 weeks. One crucial thing about waiting for a permit is that you can't do any renos past the framing. No dry-walling can go up so it's a veritable standstill. However if you are doing any electrical work (like the hard wired fire alarms which are mandatory) or plumbing now is the time. You can get all that done and have those permits issued well within the 6 weeks it takes to get the building permit.

We are all dry-walled and partially "mudded" and waiting to hit full speed. Turning the still rough outline of a suite to the livable modern space we've envisioned.

I've actually got my ads up and have pre-approved some tenants. When I show the space I tell them to bring their imaginations!

We've applied to the program with all our documents and hope to hear back in 10 days with the final approval. The final funding doesn't come till after the suite is finished and the housing branch does a final inspection.

My Sweet Suite deal - Cornerstones

living room of basement suite

For the past 2 years the City of Edmonton has offered a program to help improve the amount of affordable housing in Edmonton. The Cornerstone Project offers funding, up to 75% of $32,000 to be exact, to bring an existing suite to code or build a new basement or garden suite.

At first the program was a little lame. No funding for rentals houses had to be owner occupied and rent had to be below market average. Recently with a lot of money not going anywhere Edmonton has revised the program. Rentals are ok with market rent to a tenant with less than average income ie student etc.

So with over $6 million looking for suites to renovate we've decided to take the plunge and I'm going to chronicle the process for you here.

I've bought over 50 house but I've never bought a home. Unbelievable right? We bought our first home this month and decided to use the Cornerstone to put a suite in the basement. Even though we'll live here we'll improve the market value and make it a great rental for when we move onto our next place.

Step 1: The Inspection

So our first step was to call Cornerstones and book a inspection. A fire inspector and building inspector came out, went over the whole basement inside and out and made reports on the work that had to be done.

Including:

1. Drywall all ceilings and walls even in storage areas and under stairs
2. Ensure windows in bedrooms meet egress requirements. They also must not require special knowledge to open
3. Put hard-wired smoke alarms in suite, common areas and on the main floor
4. There should be a fan in the bathroom and proper venting in kitchen
5. Separate entrance must have easy access
6. Ceilings must be 96 inches minimum

The report also called for inspections of the hot water tank and that the furnace had property venting.

The next step PERMITS.