Prime Minister Dr. Hubert Minnis and Minister for the Environment and Housing Romauld Ferreira launched the government’s service lots initiative Thursday.
It’s the first of its kind in the country and aims to make affordable housing available for young Bahamians.
The first phase of the program, which offers affordable lots with all infrastructure already in place, launched at Sunset Close Subdivision Thursday morning.
Ten lots have been identified for the program and are now up for purchase, with service lots for $15,000 to $30,000.
“Prospective homeowners can choose their own contractor and financial institution for mortgages,” said Dr. Minnis.
“Lionel Davis Subdivision in the Fox Hill community will have available lots for sale early October 2018.
“January 2019 – over 300 service lots will be made available for sale in the Carmichael Village subdivision.”
The prime minister revealed that it is his administration’s 10-year plan to introduce a minimum of one subdivision per year.
“The goal is to ensure that our young people are able to purchase land and own homes in our country,” he said.
The applications for the newly launched service lot initiative are to be submitted to the department of housing Shirley Street.