By KHRISNA RUSSELL
Deputy Chief Reporter
THE Department of Housing launched its service lot initiative at Sunset Close off Carmichael Road yesterday.
Called the Sunset Close Subdivision Extension, Housing and Environment Minister Romauld Ferreira said it adds an additional ten service lots to the ministry's affordable housing initiative and will serve as a pilot programme for renewable energy residential requirements.
Purchasers will have two years to complete homes; each house will be required to have either a solar powered water heater or at minimum a 2kw renewable energy system that will be tied into the grid at no expense to new homeowners.
After this, Lionel Davis Estates in Romer Street, Fox Hill will provide an additional 10 service lots and the Carmichael Village project is to follow where phase one will contain 150 service lots.
There will also be lots made available in Andros, Eleuthera, Exuma and San Salvador.
Bringing remarks during the event, Prime Minister Dr Hubert Minnis said this made it easy for young Bahamians to own homes by offering ownership equity choice and flexibility. He said this all will be aided by duty-free concessions
He said in some cases the lots will be sold for 70 percent less than market value. The average price for the lots are on average $15,000 to $30,000.
He further told those gathered that the government plans to create one housing subdivision every year for the next 10 years. Dr Minnis said his administration planned to use land where shanty towns - which the government plans to demolish - were once located.