Thursday, September 29, 2022

Invest Saint Lucia aims to create 600 new landowners in various communities

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Invest Saint Lucia officially cut the ribbon at the Beauchamp Land Development in Micoud, on Sep. 10. The project forms part of the agency’s goal to create 600 new land owners in various communities.

Invest Saint Lucia has been looking into developments that explore options such as multi-family offerings in which persons can purchase a unit within a duplex or apartment complex at a lower reasonable cost. This includes the Beauchamp Land Development, which has been designated for both residential and commercial use. The project is 80 percent sold and comprises lots ranging from four to twelve thousand square feet.

ISL Chief Executive Officer, Roderick Cherry, explained that the development has 59 fully serviced lots priced at EC$12 a square foot. A land development like this he said, “is crucial to Micoud’s growth and development as a self-sustaining community.” He added: “Home and business construction helps to generate more jobs that are community based with a trickledown effect on other industries like retail, manufacturing, agriculture and the services sector, thereby bringing economic stability to communities. This can have a direct and positive impact on the lives of our citizens.”

The Beauchamp Project was announced in 2019 along with a number of residential and commercial land developments. However, the onset of the COVID-19 pandemic delayed plans. Cherry said the ISL has not been deterred. Rather, the challenges posed by the pandemic have made ISL more determined to press on with its mandate.

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“[The pandemic] has underscored the importance of Saint Lucians owning property assets including a home, which is much better than having to deal with the uncertainties of living in rented accommodation or squatting on untitled lands. This proves that the decision by the government and ISL to put more Saint Lucians on the path to land and home ownership was the right one, and very timely.”

The Government of Saint Lucia and Invest Saint Lucia are working toward diversifying the local economic landscape and reducing poverty, and such projects are designed to create new neighbourhoods away from the congested north of the island.

Prime Minister and Parliamentary Representative for Micoud South, Hon Allen Chastanet said the new development thrust for the constituency is timely. To facilitate such development, there have been upgrades to the water supply and distribution networks with further investments in facilities and infrastructure. Hon Chastanet informed that a community park is being built which boasts of swings, slides, a restaurant and a water feature. The community playing fields are also being rehabilitated. These investments, he said, are important as Micoud South transforms into a suburb.

Prime Minister Chastanet added that the time has come for Saint Lucia to benefit from a more thriving construction sector where contractors are better empowered. He explained that “upon assuming office, the administration had to figure out how to embark on such projects without over-burdening the state. Government supported by providing incentives and as the lots are sold both Invest Saint Lucia and the contractor are reimbursed.”

Invest Saint Lucia is spearheading similar projects in Bois Jolie, Dennery; Micoud; and La Fargue, Choiseul.

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

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