This is according to Social Security Minister, Vincent Wheatley who said the project is now 13 months ahead of schedule.

“The Development’s contracted time is roughly 3.5 years to complete in its entirety; with an estimated completion date of June 30, 2023. However, the progress, to date, impacts previously forecasted data by giving us a new estimated completion date of May 31, 2022,” said Wheatley who was speaking in the House of Assembly on Thursday.

He further told the House that simultaneous construction works are underway on roughly 19 buildings. This makes up about 80 percent of the overall buildings inside the housing development.

Monies spent so far

And as of March 31 this year, $8,433,679.31 has been expended on construction works. Another $9,495,425.01 will be spent to complete the project.

“The development continues to progress within estimated financial projections, with little to no expectation of incurring cost overruns,” Wheatley stated.

Joe’s Hill Housing Development, which is being carried out by the Social Security Board, is a housing community designed on the hillside under Joe’s Hill, Tortola facing the Long Bush and wider Road Town area.

The development is expected to be a gated community that includes 25 buildings, comprising a collection 52 residential units targeting first-time homeowners, plus commercial rental space.

The units will range from one to three-bedroom styled condos, single-family homes, and townhouses.

The project is being undertaken by James Todman Construction for an overall cost of $17 million.