Minister assures those who were pre-approved will eventually become homeowners elsewhere
Coleby-Davis says she aims to build more homes than Shane Gibson
NASSAU, BAHAMAS — Housing Minister JoBeth Coleby-Davis said yesterday that the government is now looking at other locations in the western district of New Providence for housing developments, having moved on from the Prospect Ridge project set in motion by the Minnis administration.
Coleby-Davis, while addressing a press conference at the Office of the Prime Minister yesterday, noted that although her technical team had recommended that the Prospect Ridge project be left alone, western New Providence was “not off the table” for housing development.
Former Prime Minister Dr Hubert Minnis stated this week that he had a list of young professionals who had already received financing approval for the Prospect Ridge development.
Coleby-Davis said yesterday: “We have the list of persons pre-approved. That doesn’t take them out of category to become homeowners, it’s just that it may change the location of where the property is.
“That doesn’t rule out west. We have already invested in having someone begin searching for other places out west. I’m hopeful we will locate new locations out west for persons looking to live out west. We think we are close to locking down some areas.”
Coleby-Davis noted that more than 1,000 applicants came out to the ministry’s open house fair on the grounds of the Bahamas Mortgage Corporation.
She said the government is committed to diversifying housing options for Bahamians.
“Our private sector partners will be developing entire subdivisions, which includes putting in the necessary infrastructure and building a significant amount of homes,” said Coleby-Davis Davis.
“This is important as it will move the financial burden off the government by reducing the financial risk associated with the development of a subdivision.”
She further noted that the government has identified a partner who will build homes in areas where the government already has infrastructure.
“They too will be bearing most of the financial risk as they will be using their own funds to begin building homes,” she said.
Coleby-Davis also noted that the small contractors program will be reinstated, allowing for smaller contractors to build for the government on a smaller scale.
The housing and transport minister noted that there are a number of locations where construction will begin simultaneously.
The government is building 43 lots in the Pine Crest development in South Beach, with homes to be valued between $167,000 and $182,000.
Other areas set for development include sections of the Dignity Gardens and Fire Trail Subdivisions, as well as other areas within the inner city, according to Coleby-Davis.
She further noted that work will continue on the Carmichael Village Subdivision, which has some 365 lots.
Coleby-Davis also reaffirmed that the Family Islands have not been forgotten in the government’s housing development initiatives, with Abaco next in line.
She said she is aiming to build more homes for Bahamians than former Housing Minister Shane Gibson, who built some 1,600 homes.
She also noted that the government is still assessing a rent-to-own option and is trying to find the right structure for the initiative.
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