NIA ACQUIRES 36.16 ACRES AT GARNERS ESTATE TO MEET GROWING HOUSING DEMAND

The Nevis Island Administration (NIA), under the leadership of Premier and Minister of Finance the Honourable Mark Brantley, has taken decisive action to address the pressing demand for housing on the island.

The government recently purchased 36.16 acres of private land at Garners Estate in St. James Parish for $3.6 million. This newly acquired land will be subdivided into residential lots and made available to Nevisians at affordable rates, enabling them to build their homes.

Speaking on the initiative, Premier Brantley highlighted the urgent need for this development.
“It is now obvious that we are currently at a stage where the demand for housing is far exceeding the availability of government-owned lands to construct homes. To alleviate this problem, my Government recently completed the purchase of 36.16 acres of private lands at Garners Estate at a cost of $3.6 million to facilitate the construction of additional homes to meet this demand,” he said.

The acquisition was funded through a short-term financing arrangement, with plans to promptly repay the debt.

A Continued Commitment to Affordable Housing

The purchase forms part of the NIA’s broader housing initiative, which has already led to the construction of 329 homes through the Nevis Housing and Land Development Corporation (NHLDC) since 2013, with an investment of $71.8 million. This program underscores the government’s commitment to providing high-quality, affordable housing for Nevisians.

However, rising construction costs have posed challenges to the NHLDC’s subsidies. Premier Brantley explained that subsidies, while beneficial, have strained the corporation’s cash flow, with construction costs exceeding selling prices by 25-30%.

“To address this issue, the Housing Corporation will conduct a review exercise in regard to the sale price of land and homes in 2025. It is not anticipated that the increase in the price per home will be drastic, but some level of price adjustment will be necessary to reduce the level of subsidy and help to align the selling price per home with its cost of construction,” Brantley said.

Expanding Opportunities for Homeownership

To complement the government’s housing efforts, provisions will be made to enable individuals to secure funding from commercial lending institutions to purchase land and construct homes with private contractors. This strategy aims to empower more Nevisians to achieve homeownership while ensuring the financial sustainability of the NHLDC.

The NIA’s forward-thinking approach highlights its dedication to addressing the housing needs of its citizens while balancing fiscal responsibility. The Garners Estate development marks a significant step toward realizing the dream of homeownership for more Nevisians.

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