ST JOHN’S, Antigua – Antigua & Barbuda’s housing stock is set to climb significantly with a new partnership forged between a local businessman and the government – for low-income earners across the island.
The partnership will see the start of construction of 14 affordable homes, single and two story designs, wood and concrete structures at a site in Jennings Village in the next two weeks.
Homes will also be built at other locations, including All Saints, Sea View Farm, Hodges Bay, Pares Village main road and Marble Hill.
Local proprietor, Keith Joseph said the injection of capital would ensure that the low-income earners have an opportunity to own their own homes.
The investor, who was at the time speaking at a groundbreaking ceremony in Jennings Village, explained that the homes would be constructed using a specialised heat resistant panel, which will be able to withstand any major disaster.
“It’s a very good system and it is much more durable that the materials we normally use in Antigua,” Joseph explained.
Joseph will construct, in the initial stages, 30 homes, ranging from 694 to 1,000 square feet with prices ranging from $184,000 to $240,000
The construction phase for the housing project “Beauty’s Place” is expected to begin in two weeks.
The Bank of Nova Scotia and Royal Bank of Canada would finance the homes.
Finance and Economy Minister Harold Lovell who was also in attendance at the short ceremony congratulated the businessman on the bold move he took to invest in the country’s economy.
(More in today’s Daily OBSERVER)