The Tribune

The Ministry of Housing has issued 23 contracts to Bahamian companies to complete the build-out of Strachan’s Hill Estates, after receiving $2.5 million in initial financing.

Kenred Dorsett, minister of housing and the environment, in a statement issued yesterday said the contracts were awarded following receipt of the first National Insurance Board (NIB) funding tranche for the Government’s housing programme.

He added that three homes in Strachan’s Hill Estates, on Fire Trail Road, were close to completion after following a new construction model involving different floor plans and designs.

“They have been outfitted with modern windows, and will have solar powered water heaters and photovoltaic systems,” Mr Dorsett said of the three homes.

“These homes were constructed using modern building methods, with a view to lowering the cost of construction without losing square footage or quality. This is an attempt to offer dwelling homes for sale which more of our citizens can afford.”

Mr Dorsett also promised that existing Strachan’s Hill Estates homes that are currently unoccupied will be repaired and reassigned to new owners.

He added that purchasers would also be given the option of outfitting their homes with solar water heaters and solar photovoltaic (PV) systems.

Mr Dorsett acknowledged the “delays” in accessing NIB funding for the housing programme, given that a Memorandum of Understanding (MoU) governing relations between the social security system, Bahamas Mortgage Corporation and Ministry of Housing was signed last year.

Still, he added: “Bahamians should note that the construction process will be different than in previous years, as private inspectors have been retained. There is also a fund administrator for the monies that would have been advanced from the National Insurance Board as mandated in our agreement.

“My intention is to provide value for money as much as possible, being mindful that purchasing a home is a lifelong investment for most of our citizens. It is imperative, however, that those who want to avail themselves of home ownership now and in the future prepare by saving and ensuring they are not burdened with debt.”

The Minister said construction on the Government’s housing programme would restart soon on Grand Bahama.

And new homes will also be built in Fire Trail Subdivision and Romer Street, Fox Hill, when the second financing tranche is released by NIB.