Affordable Housing on the way
In his contribution to the 2017/2018 Budget Debate, the Hon. Romauld Ferreira, Minister of the Environment and Housing revealed new plans for home constructions including information on the government’s proposed rent-to-own programme.
Minister Ferreira also announced that over $300,000 were earmarked for repairs of government rental units.
“During this budget cycle the Department of Housing will complete 300 homes in the Carmichael Village Sub-division,” said Minister Ferreira, “Two million dollars will be expended to cover the costs of the same development.”
He said the housing project will be completed under the government’s private venture with 72 homes being completed in the new Carmichael West Sub-division.
He announced the Department’s scheme to build 10 low to mid income family residential homes in the Fox Hill area and that plans were underway to develop nearly six acres of land off Faith Avenue also into low and middle income residential subdivisions including two additional blocks of government rental units.
“Presently, there is $345,391.79 of committed funds for the repair of rental units,” revealed Minister Ferreira.
With regard to the rent-to-own programme, Minister Ferreira described the programme as meaningful, allowing occupants to simultaneously rent the home with rent payments being applied to the purchase price of the home.
The rent-to-own homes will be constructed on land opposite the Coca Cola Plant off Sir Milo Butler Highway.
“It is our view at the Ministry of the Environment and Housing that such a programme will go a long way to broaden the base of those in poverty,” added Minister Ferreira.