Bodden Town affordable housing scheme has 16 new homes.
Housing Minister Dwayne Seymour joined the staff and board of the National Housing Development Trust at the opening ceremony for the homes. The houses are the first to be built by the Trust as part of Phase 2 of the Affordable Housing Initiative.
Ten of the homes are already occupied. Some of the existing homeowners, as well as people interested in purchasing the homes, attended the opening.
“We are striving to create opportunities that will empower Caymanians to ensure that they can enjoy a standard of living that is both high and at the same time affordable,” Mr. Seymour said at the opening.
The new development, which cost about $2.5 million, was funded from revenue from previous National Housing Development Trust sales.
The homes are located on a 10-acre site off Lake Destiny Drive, where there are already 20 affordable homes, constructed in 2012.
Last August, while finishing touches were being put on the new construction, the Trust board and staff hosted an open house, which gave potential buyers a chance to purchase two- and three-bedroom house models. According to a press release, some 35-40 people attended, including current residents, affordable housing advocates and the general public.
Trust Chairman George Anthony Powell said, “We used the opportunity to provide more information about the process from pre-application to post-ownership. From the feedback that they shared, I believe we are on the right path.
“We remain committed to engaging homeowners and the community alike to ensure that we deliver homes that meet the public’s needs.”
East End is the next district set to benefit from Phase 2 of the Affordable Housing Initiative, with plans for West Bay after that.
According to the Trust, the remaining six homes are available for sale at between $110,000 and $125,000. Eligible applicants must be first-time Caymanian homeowners, with single applicants earning no more than $36,000 per year, or joint applicants earning no more than $50,400 a year.
Once applicants have been pre-approved under the Affordable Housing Initiative criteria and financially assessed by the NHDT, they will be referred to local banks for financing.
For more information, contact the NHDT at 945-7649 or visit nhdt.gov.ky.