Grotto units will be up for sale

Government has come up with two options for persons looking to acquire units at the Grotto high-rise apartment complex: rent-to-own or full purchase.

While several suggestions were bandied about on the fate of the 122-unit National Housing Corporation (NHC) project, Minister of Housing, Lands and Rural Development, Denis Kellman, revealed government’s final decision in an interview with The Barbados Advocate.

“We have decided that those will be rent-to-own or those persons who can buy outright will be allowed to buy outright. We will also ensure that the cost is not too high for them, but we intend to ensure that the masses of people can have an opportunity to have a great product at the right price,” he stated.

While not divulging which unit would be allocated to specific income earners, or how much one unit will cost, Kellman is on record saying each could carry a $450 000 price tag on the open market.

In addition, he noted that persons interested in owning one of these will soon have an opportunity to view exactly what is being offered, as showrooms were to be “up and running pretty soon” by the NHC, in partnership with  a distribution store in the City, to display the various unit possibilities to potential buyers.

“The housing development at the Grotto is going smoothly,” he assured.

Reminding persons that it was critical for the NHC to improve its cash flow in order to provide housing for poor people in this country, the minister said this latest move would help to reduce the large deficit.

“While there is a lot of criticism, in economic times like these you cannot rush and go and do things that you should not do and then repent later. You have to always ensure that you make the right decision.

“I do not mind getting criticism, once I am sure that what I do and what I want to do is right,” he added.