LEN housing plan targets low-income earners – to build a modern two bedroom concrete house with a $3M to $3.5 M range – mortgage payments between $15,000- $20,000 – materials indigenous to Linden(Region 10) being used
DPI, Guyana, Sunday, May 20, 2018
The Linden Enterprise Network (LEN) has embarked on a low-income housing initiative to build modern two bedroom concrete houses costing $3M to $3.5 M. The first house is currently under construction in Amelia’s Ward and materials indigenous to Linden (Region 10) are being used. The blocks are being sourced from Linden Bricks, a company in Amelia’s Ward which manufactures construction blocks out of laterite.
Owner Robert Cameron explained that houses will be inexpensive since the blocks automatically interlock and do not require additional material to plaster. He estimates a cut in cost of 20 percent. Cameron also revealed that the houses will be stronger and constructed in a shorter space of time. In addition, it will be cooler since the bricks are very dense, thus heat takes a longer time to penetrate. They are also soundproof and there is no need to paint the bricks since they already have a natural artistic look.
Chairman of the LEN Orrin Gordon said the organisation is answering the call of low-income earners, who wish to build a modest home, but are unable to access financing to do so since they do not meet the requirements, to pre-qualify at financial institutions.
This was revealed when scores of Lindeners flocked the Central Housing and Planning Authority (CHPA) Linden office to apply for the housing units that will be constructed at a cost of $5.1 M and 6.1 M in Amelia’s Ward and Wisroc. Many of these were unable to access mortgages.
Gordon said CHPA, as well as other lending institutions such as New Building Society, have shown interest in the initiative. Not only will low income earners will be able to pre-qualify, but their mortgages will also be affordable. Gordon is expecting a mortgage payment between $15,000- $20, 000 as opposed to $50, 000. This will suit the pockets of most public servants whose salaries are approximately $50, 000 to $70,000. “We need to help them in terms paying $15, 000 a month as against $50, 000 with the higher cost solution,” Gordon posited.
By Vanessa Braithwaite
Image by Vanessa Braithwaite