The Antigua and Barbuda
government
is considering selling condominiums at the new Pelican Court housing development for between EC$150,000 and EC$175,000, although Cabinet has not yet finalized the prices.
Director General of Communications Maurice Merchant disclosed the indicative price range during Thursday’s post-Cabinet media briefing, as the government continued discussions on how the 150 residential units will be allocated to former Booby Alley residents and other prospective homeowners.
The development, which replaces the former Booby Alley community in St. John’s, is being financed through an approximately EC$50 million grant from the People’s Republic of China.
Merchant said Cabinet discussed the proposed selling prices as part of broader arrangements for the management, allocation and eventual occupancy of the condominiums.
The government is also considering how the assessed values of properties previously owned by Booby Alley residents could be applied toward the purchase of units in the new development.
Under the arrangements being examined, former property owners could have the option of receiving cash compensation or using the assessed value of their former homes as a contribution toward purchasing a condominium.
For those whose former properties are valued below the selling price of a new unit, the government is exploring financing arrangements to cover the difference.
The National Housing Scheme could play a role in providing mortgages at more affordable interest rates than those generally available through commercial financial institutions.
Prime Minister Gaston Browne has indicated that former Booby Alley owner-occupiers should receive priority consideration when the condominiums are allocated.
However, the government has not announced a final pricing structure or confirmed the specific financial obligations that individual former residents would face.
The proposed price range forms part of ongoing discussions about ensuring that the new homes remain affordable while establishing a sustainable arrangement for managing the development.
The National Housing and Urban Renewal Company is expected to undertake further assessments before the final selling prices and allocation arrangements are settled.
Cabinet is also considering property management arrangements, including maintenance of shared spaces and other responsibilities associated with condominium ownership.
The government is targeting January 2027 for occupancy, with additional time being allowed to complete administrative, legal, infrastructure and landscaping arrangements.
The 150-unit development is intended to provide modern housing for former residents of the Booby Alley community, which was cleared to facilitate the redevelopment project.
Further consultations with former property owners are expected as the government works toward finalizing the compensation, financing and allocation arrangements.
For now, the EC$150,000 to EC$175,000 figures remain indicative, with no final decision announced on what purchasers will pay for individual condominiums.
Source: Antigua News Room Government of Antigua and Barbuda Discusses $150,000 to $175,000 Price Range for Pelican Court Condominiums.