Government Allocates Significant Funding for Housing Transformation in 2024 Budget
In the budget presentation on Friday, Prime Minister Gaston Browne highlighted the government’s substantial financial commitment to housing development and urban renewal initiatives in the 2024 budget.
The Central Housing and Planning Authority (CHAPA) and the National Housing and Urban Renewal Company are poised to lead the charge in transforming the housing landscape and facilitating accessible homeownership for citizens.
CHAPA’s Bolans Housing Project saw the successful sale of twenty-five out of sixty houses, with construction progressing on the remaining properties scheduled for sale in the upcoming year.
National Housing has been a key player, investing over $300 million in housing development and land distribution.
The initiative encompasses multiple areas across the island, including Royal Gardens, Friar’s Hill, Olivers, Paynters, Denfields, and Five Islands.
Additionally, the Company is set to commence construction on two- and three-bedroom properties in Louis Hill, Barbuda.
The budget announcement emphasized the positive impact on citizens, with thousands already residing in the more than 2,000 homes constructed by the National Housing and Urban Renewal Company.
The government anticipates that hundreds more citizens will achieve the milestone of homeownership within the next twelve months.
A notable highlight of the budget is the Booby Alley Redevelopment and Empowerment project, representing more than just a physical transformation.
The initiative aims to create a thriving environment in the Villa and Point communities.
The Booby Alley project has reached a significant milestone with the clearing of the project site, now handed over to a Chinese technical team for the development of architectural designs and drawings.
The construction phase of the climate-resilient homes is expected to commence by mid-2024, thanks to a generous grant from the People’s Republic of China.
The Booby Alley redevelopment promises to bring about a beautiful transformation in St. John’s, marking a substantial and exciting development for the community.
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