The third phase of an affordable housing project in East End began last week when officials broke ground at a site where seven new homes will be built.
On Friday, 27 Nov., the Ministry of Housing and the National Housing Development Trust held a groundbreaking ceremony to mark the beginning of phase 3 of the district’s affordable homes project, on Will Jackson Drive, off John McLean Drive.
As well as providing homes that Caymanians can afford, the initiative will also support the island’s economic recovery by creating employment in the housing and construction sectors, officials said in a press release.
Construction of the latest phase of the project, which is scheduled to begin in the middle of this month, will cost $750,000. The cost to build four 805-square-foot, two-bedroom, two-bathroom homes will be $105,000 each, and the construction cost of the three 979-square-foot, three-bedroom, two-bathroom houses will be $110,000 each.
The release stated that construction of an additional 14 houses will be started within the first quarter of 2021.
The first phase of the project launched 2011, with 12 houses, and phase 2 began in January 2019 with the construction of six houses.
At the groundbreaking event last week, Minister for Housing Dwayne Seymour said, “A country in which only a few can afford housing is not just or sustainable. Everyone deserves a safe place to live, for their children to play, to feel the comfort of home. We know a home can transform the quality of life for individuals and families.”
He added, “However, we know that even today there is a major housing crisis in many places around the world. We continue to fight this major challenge together and to help provide safe and adequate housing for our people.”
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Thats a supremely low price. Assuming the government pays for the land and the homes are made of concrete that is extremely low to cover materials and labour. Wonder how much the government is subsidizing?