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During the budget presentation on Friday, Prime Minister Gaston Browne discussed the government’s significant financial commitment to housing development and urban renewal initiatives in the 2024 budget.
The Central Housing and Planning Authority (CHAPA) and the National Housing and Urban Renewal Company are leading the way in transforming the housing landscape, and making homeownership accessible to citizens.
One of CHAPA’s most successful projects is the Bolans Housing Project, where construction is progressing on the remaining thirty-five properties scheduled for sale in the upcoming year, after the successful sale of twenty-five out of sixty houses.
The National Housing and Urban Renewal Company has invested over $300 million in housing development and land distribution, encompassing various areas across the island, including Royal Gardens, Friar’s Hill, Olivers, Paynters, Denfields, and Five Islands.
The Company is also set to commence construction on two- and three-bedroom properties in Louis Hill, Barbuda.
The budget announcement highlights the positive impact on citizens, with more than 2,000 homes constructed by the National Housing and Urban Renewal Company, and hundreds more citizens expected to achieve homeownership within the next twelve months.
One notable highlight of the budget is the Booby Alley Redevelopment and Empowerment project, which represents more than just a physical transformation.
The initiative aims to create a thriving environment in the Villa and Point communities, and has reached a significant milestone with the clearing of the project site.
A Chinese technical team has now taken over the development of architectural designs and drawings, with the construction phase of the climate-resilient homes expected to commence by mid-2024, thanks to a generous grant from the People’s Republic of China.
The Booby Alley redevelopment promises to bring about a beautiful transformation in St. John’s, marking a substantial and exciting development for the community.