Failed Joe’s Hill project exposed housing crisis – Grant
The failure of the Joe’s Hill Manor housing development to meet the needs of first-time homeowners has exposed the wider affordability crisis facing residents in the Virgin Islands, talk show host Elvin Grant has argued.
Speaking on the Talking Points radio programme, Grant said high construction costs and the rising cost of living had made homeownership increasingly difficult, even for households with two incomes.
“People are basically struggling to hold on. So if you think about it, it’s probably about $250 a square foot to build a house,” Grant stated.
He pointed to Joe’s Hill Manor, which was developed for first-time homeowners but struggled to attract qualified buyers despite significant initial interest. Grant said the units have since been rented to medical students.
“They were oversubscribed initially. But the persons couldn’t afford them. The ones that could afford the deposit couldn’t qualify for a loan because the cost to build them was so expensive,” Grant stated.
The Social Security Board completed the 52-unit development in 2022 at a cost of approximately $26.7 million. The estate comprises one-, two- and three-bedroom condominiums, townhouses and single-family homes across 25 buildings.
Although nearly 600 people initially applied, the Board disclosed in 2023 that only four applicants had proceeded with purchases. Officials cited high prices, credit issues and difficulties meeting bank deposit and mortgage requirements.
Grant stressed that the project involved both the government and the Social Security system. “It was the government – the Social Security scheme lent them the money, and the government decided to put this in place. But it was a total failure,” Grant stated.
Grant argued that many residents remained in rental accommodation and were barely meeting their expenses. He contended that the government could not rely on the failure of previous administrations to resolve the problem.
“This is the responsibility of government, I’m afraid. They might want to duck and say, well, successive administrations have had this problem and haven’t solved it. That’s not an excuse. You’ve got to answer for what you do now,” Grant stated.
Co-host Violet Gaul suggested that there should be a closer inspection of the education system. “If people are not making the kind of money, do they have the education behind them?” she asked.
She added that the government should address both affordable housing and the availability of rental properties for young adults seeking to live independently. “We have to look at affordable housing, rental availability for younger people who want to leave home and go out. That’s something the government should be looking at,” Gaul stated.
Grant added that proper housing and development planning also required reliable population data, but said the territory had still not completed a census exercise that began in June 2023.
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Financial education taught more in schools through classes focused on budgeting, credit, mortgages, economics, and money management can help people manage money, improve credit, and make better long-term decisions. However, even the most financially disciplined households will struggle if housing costs significantly outpace salaries.
The real lesson from this Joe’s Hill Manor saga is that affordable housing must truly be affordable for the people it is intended to serve; otherwise, it risks missing the very people it was designed to help. The solution requires both better financial literacy and a stronger focus on creating housing options that match the earning realities of locals.
It’s sad that for most people, no matter how hard they work or how much they earn, owning even a modest home in your own country feels increasingly out of reach.
Regardless of other issues, the architectural aesthetics are appalling.
do you even know the meaning of appalling?
It’s a strong word but yes, they’re not amazing to look at. They’re very clearly designed with the Villa Community style you see on larger Caribbean islands but they’re incredibly plain. It gives them a very sterile look.
You thought you did something there didn’t you?
But the right word was used. I applied in that initial cohort of 600 interested persons and then we were invited to view/tour the houses/units and the feedback right in middle of that experience was that the houses were appalling, the finishes were cheap, it was asthectically ugly! and not worth the money being asked.
I was completely turned off.
so yes, appalling.
Another failed project that depleted the public purse.
There are hundreds for solutions, and while spending great sums of money, the BVI chooses none of them.
All I can do is laugh at this point mehson, otherwise you’d go crazy in this coocoo house called the BVI
awooo 27 mil on the hill, would you look at that. meant to help but done nothing, fraud, steal, repeat. pure criminals!!!!!!
If government is having to pay for further works to alleviate the land slippage dangers before the majority have even been occupied which risk averse mortgage companies /insurers are going to lend or insure.
It is not possible to have low income construction in a place where the cost of construction is so high. In other islands smaller, more simple homes are built for first time home owners, by governments. Tutu in St. Thomas was built many years ago for just that purpose. That was a successful project, but different times, different banking requirements. In other islands in recent times, these smaller homes have done well. On top of construction costs, banking in BVI is not user friendly. Some people wait two years for a bank to assess their qualifications and say they don’t qualify. After Irma some people were selling their distressed homes. One bank told a prospective home owner that if he made the distressed home liveable they could then consider giving him a mortgage. Make that make sense. The homes on the hill can only be purchased by people who already have homes, and enough money to buy one as an investment which they will rent. So government money, our money, is spent on a project where the people buying the homes will make money off of them. I’m not sure how well thought out that project is/was. I’m sure it was well meant, but reality is different. Our reality is only people with available disposable income can do some things.
they should’ve had potential home buyers lined up after showing them the 3d rendering of the proposed development. Affordable doesn’t mean low / mid income housing lol, 500k vs dropping 800k building your own is affordable.
I really wish the Social Security Board would stop spending my money on pie-in-the-sky investments like the Pier Park and Joe’s Hill Manor.
The BVI Government has no call to be in the Hotel-business or in the Housing Market. Can’t even finish the Administration Complex in 8 years or would’t want to finish the Administration Complex.
Another failed investment of tax payers monies. Somebody need to be held accountable and locked up.
The brain behind it done lockup
How is it that building costs next door in the USVI is so so much less than building in the BVI?
It appears that building costs in the BVI are artificially high, simply because building contractors can charge what ever they want no rhyme or reason. When plans are submitted to town and country they should require a cost estimate before approval and have an independent in house cost estimator with the appropriate technical knowledge and skill, price the work as protection for the consumer.
Another government project gone bad. At an average of $513,000 construction cost per unit some people made BIG BUCKS on this one. UK now
Pay our locals more but keep the prices cheap. How does that work? We aant everyone to be paid top dollar for everything and we want everything cheap. The idiocy is overwhelming. The cost of building here is crazy and there is no such thing as low income housing that looks like Joes Hill Manor. Nothing about that development is low cost.
Rent to own perhaps, Premier?
One nice upfront deposit, say 12% and perhaps a 15 or 20 year installment plan with comfortable interest rates..
Ah feel sorry for whoever buy
Them went wrong building them thing on unstable land . Now landslide done affecting up there and we ain even had a nice piece of weather yet…. imagine!
Who all buy good luck mehson. Call me broke but I rather spend money wisely and hastily.
Most young people can do Is try get two jobs and save aggressively for good portion of down payment to make mortgage easier to manage. As for land that’s a whole different thing but land is cheaper then buying a house outright.
You are young take your time,be smart with money and you will get there . Some may cheat (drugs) some may look a cheap way out (joes hill) but those who endure and prepare for good quality will end up winning in the end
I blame the banks for having the highest interest rates in the Caribbean and they have pretty much zero ways to compound on your own savings. There yearly interest rates for savings, certificate deposit accounts are laughable at best. They offer no high yield savings accounts. All they do as borrow and asked for 5x more than what they loaned you….young people are not their target audience unfortunately it is the wealthy elite family and friends and politicians
Young people invest in a broker account with international brokers learn about stocks , dividends, ETFs etc to build wealth.
Those who want to take risk take out loans and opening a business and pray you make it out alive
Our biggest strength is working together if 3 or more youths come together and go to the bank to take a loan to build or start a business I am sure they will come out much better than doing it alone or just 1 other person. But black people don’t like to work together. As a matter of fact our very own don’t like it. That’s why expats come here and eat our food so ezy
Imagine!they had someone who explained that to them!!! They said they didn’t need to hear all of that! They got their people who are experienced! Lol who laugh last aye.
Proper planning prevents poor performance. When will we ever learn.
Stop half stepping. Call a spade a spade. This project was never an affordable housing project. It was just to line the pockets of one of government’s parasites. If we the people in this territory don’t wake up and face the truth, and speak Truth to Power, we will all perish. Honorable HL Stout said, “without vision the people perish”. Stop hiding behind Favouritism, Nepotism and whatever have us muzzled so we live free from fear. Freedom is Priceless.
Yep call a spade a spade before that fiasco on the hillside / we have these SHARKS (AKA) LANDLORDS WHO BEEN ALLOWED BYO TAKE ADVANTAGE OF POOR PEOPLE WITH THEIR ” R E N T ” AND YHE GOVERNMENT IS LOOKING THE OTHER WAY JUST LIKE THOSE ” EMPLOYERS IS BEING ALLOWED TO DO WITH TAXES ON THEIR EMPLOYEES ,TAKING OUT THEIR TAXES AND NOT PAYING IT IN TO THE SAME GOVERNMENT – TOTAL CORRUPTION, AS CSC SAID WE GETTING ” SHEGGEDY ” FRIGGED BY GOVERNMENT SO THATS THE WAY IT IS – THE ENTITLED ELITES IS IN CONTROL OF OUR ARSEZ AND MASTER WEATIE IS TRICKY PULLING NALL KINDS OF STUNTS – BUYING HUMANS / RAISING SALARIES / TRAVELING / FREE JAMZ AND RENTALS PROPERTIES RODEO ETC ■ GOVERNMENT BUILDINGS REPAIRS CAN’T BE COMPLETED- INFRACTURES CAN’T BE COMPLETED SQUANDERING MILLIONS AND HE HAS MO IDEA WHO OR HOW IT HAPPENED – 5 IN A DEAD BSNK 2 IN SOL AND NOBODY HELD ACCOUNTABLE ( AH GUESS IT WAS JUST ANOTHER ONE OF THOSE HONEST MISTAKES , SO NO BIG DEAL ( AS UNCLE ANDY SAID / WE GAH MONEY ,SO WE DONT NEED NO LOAN FROM DEM WHITE COLONIALIST SLAVE MASTERS / WE DON’T WANT NO HELP FROM DEM ROYAL NAVY , WE GAH BARGES- MIGHT AS WELL SING THE QUORUS – FREE THE DRUGS -FREE THE GUNS – FREE THE DREW ETC .
And, up to now, not one “educated” official, can get it right,for our people!
REALLY?
THE LATTER IS CORRECT THATS HOW THE RENTAL PROPERTIES RODEO CAME INTO EFFRCT ~ SONYHAT THEIR FAMILY & FRIENDS CAN MILK THE GOVERNMENT MONEY AND GET AWAY WITH DAYLIGHT EXPLOITATION OF TAXPAYERS MONEY AND AS (ARREST) THE BLOGGER SAID ‘ THE MASTERMIND BEHIND THAT ” RODEO ” ~ DONE LOCK UP – / WE DAN SAY WHAT WE LIKE , BUT HIS WIGGIE HIS PUPPET STILL HOLLERING OUT FREE THE DREW / WHO IS HIS HERO FO
LIFE . ( WHAT A LOVELY PAIR , ONE GOING DOWN ON THEIR KNEEZ ‘AND THE OTHER WEARING WIGZ ,
WE MAY THINK SO , BUT REMEMBER ITS ALL ABOUT THEMSELVES , SO AS FAR AS THEY ARE CONCERNED THEY GOT IT RIGHT , WHAT WE THINK OR SAY DON’T COUNT AND AT THE END OF THE DAY , ITS STILL ALL ABOUT THEMSELVES ( WE’RE A LITTLE SUPPRISED THEY HAVE FOUND A WAY TO BLAME THE WHITE COLONIALIST SLAVE MASTERS FOR THIS FIASCO / THOSE WHO LIVES BELOW HAD BETTER BE PREPARED TO EVACUATE IN A JIFFY IF WE GET ONE OF THOSE LATEST EARTHQUAKES LIKE THOSE THAT HAPPENED IN THOSE SPANISH COUNTRIES RECENTLY , IT WON’T BE FUNNY .