Government
Housing Policy Approved; what Residents can expect
By Dana Malcolm
Staff Writer
#TurksandCaicos, March 13, 2023 – The Housing Policy has been approved, and three new projects are earmarked to begin construction in a quick effort to ready the Turks and Caicos for the onslaught of workers it is anticipating as the economy and opportunities expand.
During his February 27th State of the State Address, delivered at the second anniversary of his administration, Washington Misick, the TCI Premier expounded upon the developments.
“The demand for decent housing has exploded in recent years, has led to a severe housing shortage for our people and the mushrooming of shanty towns with poor or no infrastructure. Turks and Caicos Islanders and legal residents need quality and affordable housing,” he began.
Misick, a realtor by profession explained that the policy has a ‘mixture of solutions’ which augments the existing support to first-time homeowners. Included in this mixture is Project 1 under the policy: ‘Housing Concessions for
Misick said the government is committed to giving developers tax breaks for home buyers’ sake, aimed at spurring the construction of residential communities.
“The government will work with developers and contractors to provide concessions to ensure those are passed on to homeowners so that housing becomes more affordable,” he said.
For those who already have a home, which may be in disrepair, or people who fall into the category of being unable to raise enough capital to purchase a brand new residence, Programs 2 and 3 cover Home Improvement Programs and Community Urban Renewal and Infilling respectively.
Misick said the Government was looking at introducing a home improvement programme to increase the amount and quality of liveable housing; help community renewal and the construction of houses on vacant lots, and finally, increase the housing stock in rundown communities.
“It is critical that we renew some of our decaying communities. It is cheaper to invest money in developing our existing communities, so the Government will continue to do everything to incentivize people to move back,” he maintained.
“Our priority is to embark on a massive affordable housing programme to help more people get back on the housing ladder,” he explained.
According to a Government issued press release, the Cabinet approved the Housing Policy which covers 4 categories: Social and Equitable Housing; First Time Owners; Existing Homeowners, and Community Renewal Programs.