WEDCo housing project to cost $36m

FRIDAY, MAY 11: Public Works Minister Michael Weeks unveiled a $36 million project to build a new housing community in the West End today.

The initiative will be delivered by the West End Development Corporation and is expected to take 18 months to complete.

It will involve the expansion of infrastructure from Ireland Island North to Boaz Island and the creation of a new residential community for WEDCo tenants on the existing Victoria Row site.

Mr Weeks said:  The infrastructure expansion will provide sewage collection and supply of reclaimed water from locations between Ireland Island North and Boaz Island.

“Completion of this project will mark another significant enhancement for the West End of the island and is an example of prudent sustainable development.

“Additionally, the project provides a solution to the long standing housing challenges within the West End without displacing existing tenants.”

He added: “The construction method for this project is a pre-engineered concrete and foam filled panel system for both walls and roof. These panels will be delivered to Dockyard and they will be erected and completed with all local labour.

“This method of construction provides significant strength and energy efficiency while being extremely cost effective. The aesthetics of the units will be consistent with many existing two storey dwellings throughout Bermuda and the interior will be completed with kitchen appliances.

“The project will be delivered in two phases. Phase one will see construction of 45 units on the property adjacent to the existing Victoria Row. Upon the completion of phase one the current sitting tenants from both Albert and Victoria Row will have the opportunity to move into the completed units.

“Phase two will see the demolishing of both Victoria and Albert Row and then completion of the remaining units. The development consists of a mix of one, two and three bedrooms. Rents for these units will range between $1,600 and $2,100 per month.”

Mr Weeks told the media the project is expected to create more than 100 jobs for the island and will be paid for by WEDCo.

He added: “The Government is, however, providing a shortfall guarantee for this project.

“It is not anticipated that there will be a need for the Government to activate the shortfall as the projected rental revenue and sale proceeds from existing owned Boaz Island Village condominiums will cover the cost and financing for this project.