Minister of Housing and Urban Renewal, the Hon. Keith Bell recently gave an update on government’s plans to assist Bahamians with homeownership.
Bell said, “we will be commissioning more than twenty homes in the Renaissance At Carmichael Subdivision. We’re looking at subdivisions in Grand Bahama, Abaco and of course in San Salvador. In any of these subdivisions the cost is in the millions.”
The Minister also addressed the availability of land for home construction. “On all of the Family Islands the government has a very large land bank. But in addition to that we do have public-private partnership and we do have a number of land developers come to us and want to partner with the government to develop subdivisions in our Family Islands.”
Bell foreshadowed a number of subdivisions in the pipeline to be constructed after the next budget comes into force. He said, “I can just mention, for example, Pine Crest 2 in the East Street South area. Perhaps we’re looking at Adastra Gardens another subdivision. We’re looking at subdivisions in the western area as well. And so there are a number of subdivisions that are on stream.”
The government also intends to roll out its rent to own program. Bell said, “we’re able to give you a home and we’re able to over a period of time allow you to make payments which will go towards your down payment or go towards the home.”
