Basseterre, St. Kitts, December 14, 2022 (SKNIS): The Government of St. Kitts and Nevis will pursue the construction of 2,000 energy-efficient homes over the next five years under an initiative dubbed “The Renaissance Housing Programme.”
Prime Minister and Minister of Finance, the Honourable Dr. Terrance Drew, shared details about the new programme while delivering the 2023 Budget Address on Wednesday, December 14, 2022, at the St. Kitts Marriott Resort Ball Room.
“The National Housing Corporation (NHC) will commence the first phase of building in the first quarter of 2023 with the construction of about 100 homes,” Prime Minister Drew stated. “These homes will consist of a mix of two-bedroom flats and townhouses. They will be equipped with the fixtures to accommodate the latest efficient appliances as well as solar panels to lessen the cost of electricity for homeowners.”
It was also revealed that in the coming year, NHC will restart the West Street Housing Project which, is a follow-up to the Wellington Road Housing Complex. Plans are also being considered to build three, five-unit townhouse buildings. It is proposed that two buildings will be constructed in Pine Gardens and the other in Taylor’s.
“The construction of these buildings will provide much-needed housing for families,” said Dr. Drew.
Additionally, the Prime Minister reported that 2,500 applications from landowners desirous of building houses were submitted to the NHC. He said that this process will be facilitated through the Building Assistance Programme carried out in partnership with the St. Kitts-Nevis-Anguilla National Bank.
“Madam Speaker, we are aware that there are multiple generations living in homes and this is creating a lot of social issues,” Dr. Drew said, noting that the lockdown measures during the COVID-19 pandemic shone a spotlight on the growing issues.
Middle-income earners desirous of entering the housing market are also being catered for as the government seeks to meet the demands of key demographics in the Federation.
“Shortly, our Government will develop housing communities for middle-income earners who do not have the financial dexterity to afford to buy or build a home in the current real estate market,” Prime Minister Drew indicated. “To support this initiative, we have already arranged for the land designated for these projects to be dispensed at a reduced market rate. This will lessen the overall construction cost and mortgage payments, thus increasing accessibility for our middle-income earners to have their own home.”
The main beneficiaries of this housing project are young entrepreneurs and recent university graduates.
Deputy Prime Minister and Minister responsible for Housing, the Honourable Dr. Geoffrey Hanley, is expected to share further details on these housing programmes as the debate on the Appropriation Bill (2023), 2022, continues in the coming days.
The $1.02 billion Budget carries the theme “Towards Our Transformation as a Sustainable Small Island State.”
