NIA Purchases 36 Acres of Land to Create More Homeownership Opportunities for Nevisians

Homes constructed by the Nevis Housing and Land Development Corporation at Sugar Mill Residences Housing Development, Hamilton Estate

NIA CHARLESTOWN NEVIS – The Nevis Island Administration (NIA), led by Premier and Minister of Finance Honourable Mark Brantley, has taken a significant step to address the growing demand for housing on the island.

Hon Mark Brantley

The government recently purchased 36.16 acres of private land at Garners Estate, St. James Parish, for $3.6 million, which will be made available to Nevisians to build their homes at affordable rates.

“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 for $3.6 million to facilitate the construction of additional homes to meet this demand,” Premier Brantley announced.

“My Government intends to immediately subdivide this plot of land into residential lots and make them available for sale to potential homeowners.”

Premier Brantley explained that the funding for this purchase was secured through a short-term financing arrangement, with the expectation that the debt would be repaid promptly.

The acquisition forms part of the NIA’s ongoing housing solution, implemented through the Nevis Housing and Land Development Corporation (NHLDC). Since 2013, this program has resulted in the construction of 329 homes with an investment of $71.8 million, underscoring the government’s commitment to providing affordable, high-quality housing for Nevisians.

Reflecting on the challenges of rising construction costs, Premier Brantley noted that the NHLDC’s long-standing subsidies for home construction are becoming unsustainable.

“Over the years, we as a caring government have been trying to keep the price for the construction of these homes within a reasonable limit by subsidizing the cost of construction. However, it is now having a damaging effect on the cash flow of the NHLDC as the cost to construct these homes has far exceeded the selling price per home by at least 25-30 per cent.”

To address this issue, the NHLDC plans to review the pricing of homes and land in 2025.

“The Housing Corporation will conduct a review exercise regarding the sale price of land and homes to have the selling price fall more in line with the cost of construction,” said Premier Brantley. “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.”

Provisions will also be made to allow individuals to secure funding from commercial lending institutions to purchase land and construct homes using private contractors. This move ensures that more Nevisians can achieve their dream of homeownership while maintaining the financial sustainability of the NHLDC.

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