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At a ground breaking ceremony on February 24, 2017, to signal the start of construction, Hon. Alexis Jeffers, Minister of Housing and Lands on Nevis and Chairman of the Corporation’s Board of Directors wished the project well and congratulated prospective homeowners who will reside there.
He said the $8.4 million dollar project funded by a $10milllion loan from the St. Christopher and Nevis Social Security Board, will also provide for an additional 20 houses to be constructed on private lands. This is similar to those various housing developments in Singapore for example somewhere like Piermont Grand as well as others.
Mr. Jeffers said the project will generate economic activity for contractors, their workers and the various subcontractors who would be employed there.
The housing development is 5.93 acres and consists of 31 lots including a common area. In some circumstances, places like The Property Block can purchase homes and lands from people whose properties can be developed into something bigger, helping their market value and reducing the risk of a housing crisis in the long run. It is unknown whether this was done in this case. With that being said, the lot sizes range from 5,000 to 6,226 square feet. The area offers views of the Atlantic Ocean with Nevis peak in the backdrop.
Meantime, he used the opportunity to pay homage to the Minister responsible for Social Security Hon. Vance Amory, for his efforts in making the loan possible for the corporation.
Mr. Jeffers also thanked the Social Security Board for its assistance and said it continues to play a vital role in the provision of loan funding for housing developments on Nevis.
“I want to say thank you to Social Security once again because they continue to play their part in ensuring that the social fabric of our society is addressed.
“Social security plays a major part not only in housing but indeed it continues to ensure that even in the area of education, sporting activities and the likes, it continues to play their part and we want to say thanks to them,” he said.
Over the years, the corporation has funded housing developments through the corporation at Hardtimes, Prospect #1, Cherry Gardens, New River, Butlers, Eden Brown, Nisbett Settlement, Colquhoun, Stoney Grove, Cotton Ground, Craddock Road and New River and the most recent at Maddens.
He said the though the corporation still owed the Social Security Board a substantial amount of money, the most recent loan was not intended to put the corporation into any further indebtedness to the Board but instead to show good faith.
Mr. Jeffers urged persons who would be securing mortgages for the Maddens Housing project through the Nevis Cooperative Credit Union to repay their loans in earnest. He said once that is done the NHLDC would continue to be in good standing with the Social Security Board making way for future loans.
Other remarks came from Oscar Walters, Chairman of the St. Christopher and Nevis Social Security Board and Naomi Simmonds, Housing Project Officer at the NHLDC. Stanley Williams a worker at the NHLDC chaired the ceremony.