In a bid to target a more extensive section of the population, plans are underway to construct a dozen homes in North Sound on Virgin Gorda.
Minister for Natural Resources and Ninth District Representative Vincent Wheatley told BVI News on Wednesday that the undertaking will be on a rent-to-own basis.
“The area is already selected and I am attempting to build at least 12 affordable homes because if I can give you a home and you can rent to own it, it is much easier for you and faster than saying, ‘here’s a half-acre of land, go build a house’,” Wheatley said.
He continued: “When you are finished paying for it, which should be in the range of a $100,000 to $200,000. It’s yours and you get a deed after which you can rent or sell or do whatever you want with it.”
The Ninth District Representative said the programme is specifically targeting first-time homeowners.
“I have an architect right now working on a plan for me and I will be meeting with him soon to see how much it would cost and what would the terms be … If it is not affordable, you are defeating the purpose,” Wheatley further said.
The Natural Resources Minister said he is working alongside the Social Security Board to get the funding for the project.
“I hope to break ground this year,” he added.
Applicants who can build will be targeted
In the meantime, applicants who can demonstrate that they are able to construct homes “in a reasonable amount of time” will be given preference for these new homes, Wheatley said.
“We are going to seek those persons out deliberately,” he stated.
“I’ve been around lands for a very long time, and I have seen persons who have bought land 30 years ago, and to this day there is nothing on it,” he said.
The minister was at the time speaking against the backdrop that young persons are interested in becoming landowners in the territory.
At the time he said some 600 persons had already submitted applications to the ministry and that figure is growing daily.
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