The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A leading low-cost developer is gearing up to expand its housing solution by adding another 30 lots, its president telling Tribune Business: “We can’t wait to get started”.

Arawak Homes’ Franon Wilson said the housing developer was looking to develop 30 lots in its second subdivision in the Faith Avenue area. That subdivision, he added, would feature its latest housing solution introduced in Premier Estates last June.

“Premier Estates is just about all sold out right now. We’re helping people arrange their financing. That community had 16 homes in it. The response has been so overwhelming we have already identified the next community we’re looking to expand this concept to,” Mr Wilson said.

“That subdivision is going to be roughly 30 homes. We literally can’t wait to get started on the second one; we just have to go through all the approval processes to get that going. That subdivision will be in the Faith Avenue area as well. It’s a highly desirable area and a lot of people are looking to move to the Carmichael area.”

Arawak Homes introduced its housing solution in the Premier Estates subdivision last June at price points representing a 12-year low. In that line of home models, it was offering three bed/two bath residential homes with mortgage repayments starting at $227 per week.

“We have sold out of three bedrooms in Premier Estates. We’re meeting with people now and they are looking at the new community on the basis that it will take us five to six months to complete a home in there. We’re working with people and putting them in saving programmes while a home is being built, so that they can put money towards their closing costs. It’s a win-win for everyone,” said Mr Wilson.