February 6, 2014 -- The government has implemented a number of projects to help Antiguans and Barbudans attain the goal of home ownership. One of the projects is the North Sound Housing Development which was completed with funding from Venezuela and comprises over 70 homes that are on offer to public servants and employees of Statutory Corporations.
Twenty of these homes have already been allocated and it is expected that the application and approval processes will increase significantly over the next few months.
A rent-to-own arrangement has been implemented to facilitate the sale of homes in the Folleys housing project. This alternative approach is intended to put home ownership within the grasp of persons who may not be able to access financing to purchase the homes outright.
Twelve families have already benefitted from this rent-to own arrangement and have moved in or are soon to move into their new homes.
Another housing related project is the Bau Panel project which involves the construction of affordable houses using the patented, state of the art Bau Panel System.
This is a joint venture between the Government, through CHAPA, and Bau Panel Systems Limited. It will provide employment for over 1,000 citizens and residents and make home ownership a reality for 5,000 Antiguans and Barbudans. A critical part of this project will be a financing component through which prospective purchasers of the homes in this project will be able to access funding.
The project also comprises a manufacturing component where Bau Panel Systems will be manufactured in Antigua and Barbuda for use in the local development projects and to supply the regional and Latin American markets.
In addition to these public sector housing projects, there is the Lightfoot Gardens Housing project being developed by a local entrepreneur. Work on this 73 unit development began in early 2013 and is to be completed within 24 to 36 months. This $18 million project will offer citizens and residents two and three bedroom options at affordable prices. Up to 200 construction jobs will be created by this project.
For more information on these housing development projects contact CHAPA at 462-2033 or 562-2307.
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Antigua News