The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Bahamas Real Estate Association’s (BREA) president yesterday said it was better for the government’s Prospect Ridge housing development be be done properly rather than put deadlines on it.

Christine Wallace-Whitfield’s, pictured, comments came as other realtors made predictions on when the highly-touted subdivision for young professionals will be completed and the first home owners will move in, with one suggesting it would take three years to materialise.

Mrs Wallace-Whitfield said: “I don’t think things will happen overnight and it is a work in progress. I think the government wants to do this development right. You have to put in the infrastructure and all sorts of different things. We always want things done right away. We need to have patience and ensure that this thing is done properly and effectively so we can have a fantastic result.

“It’s all about giving young professionals an extra boost and to give them an opportunity to build a home and grow a family and build wealth. These things take time. I think this development could be completed within a three-year time frame, however.

“Let’s put it like this, I don’t think this will take three years. Let’s hope that it doesn’t take three years, but we have to do it right and I think the government wants to get it right. I would rather them take the necessary time that they need to make it what they want it to be, and that is a new development that is top quality and top notch, so young professionals can be proud of it and proud to call it their home.”

The government established the Committee for the Development of Communities for Young Professionals, headed by Viana Gardiner, chief operating officer of the Prime Minister’s delivery unit, to take decisions on who qualifies for a home in the subdivision. It includes professionals experience in property development, real estate, engineering, financial, legal, project management and public policy.

“Because of the fact that they have their committee in place, and they’ve gotten a really good array of persons at the table to collectively make excellent decisions, I think moving forward those on the committee will serve this initiative well,” said Mrs Wallace-Whitfield.

Not everyone thinks the development is well put together. Tennyson Wells Jr, the developer of the Lyford Hills subdivision, in an earlier interview with Tribune Business lamented that the asking price for a parcel of land is too low and will not attract the type of individuals the development is aiming for.

He said that in order to make the project work, the government would need to raise the price from the $50,000 that the prime minister initially touted as being the ceiling.

Mrs Wallace-Whitfield, though, said: “I just think the government wants to get this right and ensure that it is in an excellent neighbourhood and an area where people would be proud to live in.

“One of the complaints I hear as a realtor is that people tell me they would never be able to afford a certain piece of property. I just think that it is great that the government can offer this to young professionals, despite only so many lots being available.

“If you are lucky that you have been successful with this, then kudos to you, and for your future it would definitely be rewarding for those who choose to live in this community.”