Cay Hill:— The much talked about Welgelegen Homes project is steadily moving one step closer to becoming reality. Becoming more visible on the site has been how the first structure is being constructed, in the wake of the recent pouring of cement for the construction works at the project site.
The housing project is being developed by St. Maarten’s general pension fund, APS, with designs by IXI Design N.V. and Cicca N.V. For this initial phase of the project, Gemini Construction has been chosen as the contractor while the engineering consulting firm, ICE N.V., has been charged with engineering and quality assurance for the project.
The latest developments signal the beginning of actual construction of some 61 townhouses and apartment units on land made available by the government, in a long lease agreement to the fund. The necessary authorization process is already underway with VROMI authorities.
The units would range from one to three bedrooms in size, measuring about 70 to 100 square meters per unit.
APS launched the project in 2016, as an investment opportunity for the pension fund. The fund expects to benefit, particularly young professionals who are participants in the fund seeking their own home in St. Maarten.
The idea is to offer the majority of the units below the maximum sales price of 250 thousand U.S. dollars as stipulated in a long lease resolution granted by government to APS in late 2015. ”There is a need for reasonably priced homes on Sint Maarten – particularly in the price segments around 200 thousand U.S. dollars, says APS chairman of the board Franklyn Richards.
Over 100 persons have already contacted APS, indicating their interest in one of the units.
APS has been registering persons and passing on their information to the agent contracted by APS to provide information on the units, take care of collecting the necessary personal information from interested buyers while processing the screening of potential buyers. In addition, the pension fund has been assisting interested persons with a financing request, if needed.
To facilitate the process even further, APS is committed to working closely with a local bank, to offer financing to potential homebuyers.
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Source: St. Martin News Network
APS Welgelegen homes construction proceeding well.