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NIC to launch low-cost housing project

Press release

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(PRESS RELEASE) – Saint Lucians with low to moderate incomes are set to benefit from an innovative housing project soon to be launched by the National Insurance Corporation (NIC).

The proposed low-cost housing project being developed by the NIC, will help in addressing the demand for affordable housing on the island.

The National Insurance Property Development & Management Company Ltd. (NIPRO), a subsidiary of the NIC, is currently assessing properties owned by the corporation in order to select an appropriate site.

Critical factors affecting site selection are enabling topography, proximity to population centers and access to main public transport routes.

The low-cost housing project is expected to form part of a larger master-planned development to include recreational areas as well as light commercial activity related to serving the needs of the community.

In order to ensure that the project will be affordable for its target markets, the low-cost housing project will seek to incorporate innovations in construction methodologies and materials geared towards overall cost reductions.

Further consideration will be given to the desirability of differing types of accommodation styles inclusive of apartment complexes, duplexes, and standalone housing units. It is envisaged that financing options will be developed to facilitate ownership of units.

The design of the housing units will take into account the need for sustainability and for resilience to natural disasters. It will also incorporate rainwater harvesting systems and use of grey water from buildings to water community gardens and serve other non-potable water needs.

The NIC has been and will continue to liaise with other public entities notably the St Lucia Development Bank and the Ministry of Housing to ensure a coordinated approach is adopted to address the problem of inadequate affordable housing.

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6 comments

  1. Just make sure that the ones who applied provide their Income Tax
    statement for the past 3 years, to ensure their viability as genuine
    low income applicants. Also, the successful owners must sign a legal
    statement that they (and family, if any) must live in the home for at
    least 5 years, before agreeing to sell - only to another low income earner
    Never assume that because one claims to be of low income, that they may
    be stupid, people are never as stupid as one may think. Help families with kids.

    (2)(0)
  2. I wish we can have this kinds of housing project even here in South Africa for low income wage. I'm struggling in need of a house. I'm turning 50 but it's so painful not to own a house. St Lucia residents are blessed

    (2)(3)
  3. Low income housing is a brilliant idea but how many of those houses really goes to the low income people for example look at the phone behind the brewery, is there any low income families? Someone in authority answer me mrs Augier, answer this question

    (7)(0)

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