Two hundred and sixty-seven middle income earners now have the opportunity to become homeowners through the Atlantic Breeze, Planned Lifestyle Development project launched today at Chancery Lane, Christ Church.
During the launch, Minister of Housing Lands and Maintenance Dr William Duguid said the HOPE Premium Project was created to encourage middle income persons to own land and house at an affordable cost.
Dr Duguid said the new development is a good opportunity for professionals earning between BDS$4000 and BDS$8000 to own a piece of the rock in a comfortable environment.
According to the minister said the homes will start at BDS$265 000.
Dr Duguid said: “As part of the project, four kiosks will be constructed and this will provide the latitude for persons in the community to be self employed. This translates into building economies while creating employment. I encourage the housing and construction sectors to emulate this model.
“This development at Chancery Lane seems well-crafted and designed. The technical team is therefore to be commended for their hard work as they move towards the futuristic designs. Preconco is also to be commended for partnering with the Government at a time when it is more critical than ever to stimulate the economy.
“It was one of several companies which responded to our advertisement for joint ventures partners. We stand ready to partner with other developers who are ready to provide the financing. We will endeavour to provide the land.”
Chief Executive Officer of Preconco Ltd, Mark Maloney, said it is expected that the 267 homes will be constructed within a matter of months. He said while Town and Country Planning has given the required approval, the construction process is expected to start soon.
According to the developer, while Preconco has worked on projects with the NHC over the years, HOPE Premium is a culmination and slightly improved version of what has been delivered in the past.
He said: “The homes are going to be constructed using the latest technology. We want the homes to be energy efficient and sustainable and the materials that we use are durable. We have managed to do that over the years, our ability to be able to procure effectively and efficiently is going to be seen here.
“We are going to have a different type of roofing solution that is going to be conducive to the salt spray. So although it is Atlantic Breeze, and the breeze is amazing, we want to make sure that we have homes and materials that can withstand the elements and that are durable”.
Maloney explained that through the private sector partnership, the project is being funded by his company, while the Government will receive money for the land as homes are sold.
“The interest here has been phenomenal and there is no shortage of money in the banks in Barbados. Certainly, people are going through a hard time but the saying ‘soil doesn’t spoil’ is true and people want to invest in a lifestyle and a home. We are really fortunate to be able to be involved in this,” Maloney said.
Delivering remarks at the launch, Prime Minister Mottley said the project which will give 267 middle income earners the opportunity to become homeowners, will also provide hundreds of Barbadians with employment opportunities during construction.
Mottley said: “We can sustain families while ensuring that we build something productive that makes 267 families better off at the end of this project is why we have been elected by the people of Barbados to bring a better life for our people.”
Director/Architect and Planner of Archis Designs Dr Albert Best who is the lead consultant on the project, said the site is estimated to be about 35 acres in size. He said the one-storey houses will be situated on lots between just over 3500 and 4000 square foot, with seven houses per acre.
“There are about 136 two-bedroom houses and 131 three-bedroom houses,” Dr Best said.