PM Davis delivers 28 keys to new homeowners in in beautiful Renaissance…

Ladies and Gentlemen,

Prime Minister Philip Davis made history on a sunny afternoon in the beautiful archipelago of The Bahamas as he handed over the keys to 28 newly constructed homes to deserving families. The event took place in the picturesque community of Renaissance, located in the Central Bahamas.

The Prime Minister began his speech by expressing his deep sense of pride and honor in being able to directly impact the lives of Bahamian citizens through this housing initiative. He emphasized that this moment was not just about handing over keys but about creating opportunities for families to build a better future for themselves and their children.

The homes were built under the government's National Housing Policy, which aims to provide affordable housing solutions for low-income families. The policy was launched in 2019 with a commitment to constructing 5,000 new homes over a five-year period. These homes are being built in various communities across New Providence and Grand Bahama islands.

The homes in Renaissance were constructed by the Housing Solutions Bahamas Limited (HSBL), a public-private partnership between the government and the Inter-American Development Bank (IDB). The IDB provided a $35 million loan to finance the project, which will result in the construction of 150 homes in the community.

Each home comes fully furnished and equipped with modern amenities such as air conditioning units, refrigerators, stoves, and water heaters. The community also features green spaces, playgrounds, and community centers.

The families receiving the keys have been selected based on their income level and housing needs. They have been given a down payment assistance grant of $5,000 towards the purchase price of their homes. The monthly mortgage payments will be capped at 30% of their household income.

This housing initiative is part of the government's broader efforts to address the housing crisis in The Bahamas. According to the Central Bank of The Bahamas, as of December 2020, there were over 13,000 households on the waiting list for public housing. The government recognizes that affordable housing is a critical component of economic development and social stability.

In conclusion, the handover of 28 keys in Renaissance represents a significant step forward in the government's commitment to providing affordable housing solutions for Bahamian families. This moment symbolizes hope, stability, and a renewed sense of pride for these families as they unlock the doors to their new homes and begin a new chapter filled with new memories.