Most units at Pelican Court are expected to be offered through low-interest mortgages rather than long-term rentals, Prime Minister Gaston Browne has disclosed.
Browne said the homes could be priced at approximately EC$150,000, with repayment spread over 25 years at an interest rate of roughly three to four per cent. He estimated that monthly payments could be below EC$800.
Former residents who owned homes on the site will be prioritised and offered swaps, while other units may be sold or rented. The administration prefers mortgages because publicly rented housing complexes can be difficult to maintain over time.
The Prime Minister also suggested attaching property-management fees to residents’ utility bills after homeowner associations at other developments struggled to collect maintenance contributions.
Strict bylaws, on-site managers and a possible police outpost form part of the plan to protect the investment and prevent the complex from deteriorating.
