The Guernsey Housing Association will hand over the keys for its 1,000th property today when it unveils a new £4.5m housing development in St Saviour's.
The new development at Clos Carre, next to Courtil Michele, on the Route des Clos Landais, St Saviours, has 17 two- and three-bed houses and bungalows, offering 10 for rent and 7 for partial ownership to first time buyers.
The ribbon will be cut at a formal ceremony this afternoon which also marks the 1,000th property milestone for the GHA since its inception in 2002.
The GHA was created in 2002, an initiative of the then-States Housing Department, and is managed by Steve Williams, pictured.
The Clos Carre land and construction costs amount to £4.49million, with the States paying £541,000 towards the total costs - essentially covering the purchase of land, which worked out at £31,824 a plot.
The remaining £3.95m of the project funding came by way of a £3.2m bank loan that we are told will be paid off by GHA from rental income over the next 30 years, and partial ownership sales.
The GHA contracted RG Falla to construct the St Saviour's housing complex.
"The new homes are built to a high energy efficiency and rigorously draught proofed, exceeding the Building Regulations," said the GHA. "States Housing and GHA are keen to keep residents fuel costs down."
Pictured: One of the GHA's latest housing developments in Ville Au Roi, which was aimed at key workers at the nearby hospital.
The social housing rents for 2021 are £269-a-week for a new two-bedroom house or bungalow. Purchase a partial ownership two-bedroom house - buying 50% of the equity - would cost £1,147-a-month, combining the mortgage and rent.
Partial owners also pay a service charge towards the landlord communal maintenance elements and are required to maintain their own homes.
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