The Hon. Philip J. Pierre-led Administration has unveiled an exciting initiative: the first-ever CIP-funded Housing Projects.
Recognizing that homeownership is often prohibitively expensive for many Saint Lucians, the government says it is committed to breaking down barriers and providing ordinary families with a genuine opportunity to become first-time homeowners.
For the very first time, revenue generated from the Citizenship by Investment Programme (CIP) will be used to construct affordable homes. This groundbreaking decision was announced during the Prime Minister’s Budget Policy Address on April 23, 2024. The goal is to help families transition from being tenants to proud homeowners.
The initial housing development project will consist of a 64-unit complex in Rock Hall, Castries, with construction set to begin soon. Additionally, plans are underway for a second housing project in Belvedere, Canaries.
According to a press release from the Office of the Prime Minister under Prime Minister Pierre’s leadership, CIP revenue will bridge the housing gap, turning the dream of homeownership into a reality for many Saint Lucians.
The release stated the Pierre-led Administration is committed to Putting People First, and these CIP-funded housing projects will soon provide new homes for Saint Lucians.