NASSAU, BAHAMAS — Environment and Housing Minister Romauld Ferreira said yesterday the installation of infrastructure in phase I of the Carmichael Village Subdivision is nearly complete.
Ferreira touted government’s housing development efforts as the “most innovative and groundbreaking government housing system ever devised in this country” during his contribution yesterday to the 2021/2022 budget.
He said: “We are just about complete with the installation of infrastructure in the Carmichael (Village) Subdivision Phase I where 100 lots are available and you will be able to purchase service lots for $15,000. When you look at what we are doing in the Ministry of Environment and Housing, more particularly the Department t of Housing and you look at what is happening with the offering being made by the Office of the Prime Minister for another grouping of people, what you have is the most innovative, groundbreaking government housing system ever devised in this country.”
Prime Minister Dr Hubert Minnis previously indicated that several tracts of land in the west have been identified for purchase for young Bahamians between the ages of 18 and 45. He noted that 40 percent of the lots will be multi-family lots at $50,000, and 60 percent will be single-family lots at $40,000.
The government will bear the cost to put in place all of the necessary infrastructures for the 95×100 lots, which will be valued at $150,000.
The program will also offer several concessions, including the waiver of customs duties on all the building materials and appliances, real property tax exemption for two years after construction, and one year without stamp tax.
Additionally, the government will make available 10 approved Ministry of Works architectural designs for homeowners to choose from for a cost of $1,000, eliminating significant architectural fees.
Ferreira said yesterday: “What will happen as a result is more Bahamian homeowners, more young people having that dream fulfilled. That is why we will seek public-private partnerships to further develop the remaining parcels at Carmichael Village and those in Abaco.”
