Govt acquires 36 acres amounting $3.6M for affordable housing in Nevis

St Kitts and Nevis: In a bid to address the growing demand for housing on the island, the Nevis Island Administration (NIA) has taken a significant step by purchasing 36.16 acres of private land at Garners Estate, St James Parish for $3.6 million. 

This land, according to Premier Mark Brantley will be made available to locals to build their homes at affordable prices.  

While announcing the development, the Premier remarked that it is now obvious that the island is currently at a stage where demand for affordable housing is far exceeding then availability of government-owned lands to build homes.  

He added that in order to alleviate this problem, the government recently completed the purchase of 36.16 acres of private lands at Garners Estate to facilitate the construction of additional houses and meet this increasing demand.  

The Premier further added that it is the intention of his government to immediately subdivide this plot of land into residential lots and then make them available for sale to potential home buyers. 

Premier Brantley explained that the funding for this purchase was secured through a financing agreement which was done for a short-term with the expectation that the debt will be repaid immediately.  

According to him, this acquisition forms part of the administration’s ongoing housing solution, executed through the Nevis Housing and Land Development Corporation (NHLDC). He added that since 2013, this program has resulted in the construction of 329 houses with an investment of $71.8 million and added that these showcases the government’s commitment to providing affordable and high-quality housing for the locals in Nevis.  

Furthermore, the Premier reflected on the challenges of increasing construction costs and said that the NHLDC’s long standing subsidies for home construction are becoming unsustainable. He outlined that over the years, the NIA as a caring government have been trying to keep the construction price of these homes within a reasonable limit by subsidizing the overall cost.  

With the securing of yet new land, the Premier added that a lot of locals are set to benefit and construct their homes this year.