Beautiful Virgin Islands

Tuesday, May 13, 2025

Too pricey! Decision needed on Joe’s Hill social housing issue

Too pricey! Decision needed on Joe’s Hill social housing issue

Minister for Social Development Marlon Penn said he felt there was a need for a closer look at the housing initiative in Joe’s Hill which was expected to deliver affordable housing for some residents of the territory.
The government last year completed a $26 million construction project to facilitate first-time homeowners at its Joe’s Hill Manor housing development in what some felt was an affordable housing initiative at the time.

However, it was later realised that many of the homes proved unaffordable and thus out of reach of the pockets of applicants and intended beneficiaries.

Although the intention of the programme was to facilitate first-time homeowners, Penn said it was discovered that the market-rate price points for the homes proved to be a challenge for many of the applicants.

“Though the price points are market-rate — it’s in line with what the market is saying that a house of that size or that magnitude would cost — we’re finding it difficult for persons to get a loan to purchase those [homes],” the Minister said.

“I think a lot of the problem is the initial capital that persons have to come up with,” Penn added. “Many persons might have the income level to be able to pay the mortgage, but they don’t have the liquidity — the savings to pay the down payment.”

Penn said a decision must now be made on whether the homes will continue to be restricted to first-time homeowners or whether it will be expanded to other buyers.

“At the end of the day, it’s the pensioners’ monies that’s tied up in this investment and that money has to go back to the pensioners and the investment,” the Minister said.

Premier Dr Natalio Wheatley recently opined that the government needs to look at creating affordable housing for residents and conceded that the Joe’s Hill project would prove ‘quite expensive’ for persons seeking affordable housing opportunities.

The Joe’s Hill Housing development has 25 buildings, comprising 52 residential units plus commercial rental space.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
First White South Africans Resettled in the U.S. Amid Controversy Over Persecution Claims
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
India and Pakistan Agreement on Ceasefire Amid Ongoing Tensions
Arsenal Stages Comeback to Draw 2-2 Against Liverpool in Premier League Clash
Trump's Upcoming Visit to Gulf Nations: Investment and Security at the Forefront
Rodrigo Duterte Awaits Trial at The Hague. Next week he might be elected mayor of his hometown
Trump fires director of U.S. Copyright Office, sources say
Retired British police officer arrested over ‘thought crime’ tweet
Cardinal Robert Prevost Elected as Pope Leo XIV, Marking a Historic Papacy
Newark Mayor Ras Baraka Arrested at ICE Facility Amid Congressional Visit
India-Pakistan conflict may be first test for Chinese military tech
Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth
Historic Papal Conclave Set to Commence in Rome
Huge Copper, Gold, and Silver Discovery in Argentina and Chile — But the Profits Go Abroad
Prince Harry is pleading for reconciliation — but the royals are just as sick of his victimhood as everyone else
The Road to Freedom: She Protested Putin, Escaped House Arrest, and Survived a 2,800-Kilometer Journey
OpenAI's Flip-Flop: No Longer Going Commercial, Back to Nonprofit, After Musk Lawsuit and Backlash
“Trump Supporter” Aims to Bring a MAGA-Style Shift to Romania
First From China: Zhao Xintong Wins the Snooker World Championship
Nvidia Faces Billion-Dollar Losses – Warns: China Is on Its Way to Becoming an AI Superpower
Trump Rules Out Third Term, Names JD Vance and Marco Rubio as Potential Successors
Mexico Says ‘No’ to U.S. Troops: President Sheinbaum Rejects Trump’s Offer to Fight Cartels
Nigel Farage’s Reform UK Storms the Map, Wrecking the Two-Party Monopoly
DOGE: Reimagining Government Operations with AI
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
Beijing Says U.S. Is ‘Reaching Out’ for Tariff Talks Amid Soaring Trade Tensions
U.K. Court Rejects Prince Harry’s Final Appeal Over Police Security
Prince Harry’s Heartfelt Outburst Rocks the Royal Family
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Transgender Swimmer Secures Five Gold Medals at U.S. Masters Championship
Prince Harry: “I Want Reconciliation with My Family”
Germany's Alternative für Deutschland (AfD) party has now been officially labeled “right-wing extremist” by the federal office for the so-called “protection of the constitution.”
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
Transformative Changes in Women's Wrestling: The Rise of WWE Superstars
The Rush to the White Gold: Global Investment Surge in Natural Hydrogen Exploration
This is a day in Spain without electricity and internet
Reform UK Surprises in British Elections, Challenging Traditional Two-Party System
180-Year-Old Christian University in South Carolina Announces Closure Due to Unmet $6 Million Fundraising Goal
Brazilian Woman Jailed for Fourteen Years for Writing “You Lost, Idiot” on Statue During Protest
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
Dutch Politician Eva Vlaardingerbroek Receives Spyware Threat Alert from Apple
Paramount Board Considers Settlement in Trump’s $20 Billion Lawsuit Over "60 Minutes" Interview
U.S. Economy Shrink in Trump’s First Quarter as Tariff Policy Raises Questions
Deadline Looms for RTS Meter Replacement: Hundreds of Thousands at Risk of Heating Disruption
Sweden Grapples with Deadly Gun Violence: Suspect Arrested After Three Young Men Killed in Uppsala Hair Salon
Walz Reveals Why Harris Chose Him as Her Running Mate and Reflects on Democratic Losses
Spain Restores Power After Unprecedented Nationwide Blackout
Carney Secures Liberal Mandate in Canada’s Federal Election
Death Penalty Sought as Luigi Manion Pleads Not Guilty in CEO Murder Case
President Trump contacts Jeff Bezos after reports of Amazon considering listing tariff surcharges; company clarifies no such plan for main platform
×