The Gibraltar Government yesterday outlined the first project of its second wave of affordable housing developments, which will also mark the redevelopment of the Eastside of the Rock.
Hassan Centenary Terraces will be situated on the eastside and will consist of some 665 flats spread out over six buildings.
The composition of properties includes four one bedroom flats, 158 two bedroom flats, 296 three bedroom flats, six five bedroom flats and 27 maisonette/duplex apartments.
Construction will commence in June 2019 and is expected to take 30 months to complete.
The development will benefit from a Government shared-ownership scheme for those eligible purchasers who wish to take advantage of the option.
Prices will range from £89,100 for a one bedroom apartment or £44,550 at the 50/50 rate and up to £339,100 for a five bedroom apartment or £169,000 on a 50/50 basis.
A Government spokesman explained that the Government could not reveal the total cost of the project as it has gone out to selective tender and the successful tender has yet to be chosen.
A dedicated website for sale is now live at www.hassancentenaryterraces.gi and it contains all the relevant information.
There is also a showroom located at 3B Rosia Road where brochures can be collected and where a scale model of the new estate can be viewed.
Application forms and conditions of sale are available online and the closing date for return of applications is January 31, 2019.
Additionally, there will be a further two affordable housing estates announced in the New Year.
In outlining the plans for the new development yesterday Chief Minister Fabian Picardo said the conditions of sale would be tightened up “to ensure that people are not able to profit in a way that is unfair, for the resale or rental of these properties”.
Minister for Housing Samantha Sacramento further explained: “There are important changes in the way that we are dealing with allocations of these homes this time because we want to ensure that the pro- cess is as fair as possible to everyone.”
“There will be an opportunity for anyone who is eligible and entitled to apply, the criteria for priority in allocations has been announced since 2015,” she added.
In a press briefing the Government explained that this is part of its continuing policy to provide homes for Gibraltarians.
The new project follows the construction of 564 homes at Beach View Terraces, 331 homes at Mons Calpe Mews, including 69 for the elderly at Sea Master Lodge, and a further 73 flats for the elderly at Charles Bruzon House.
In addition to this, a further 266 homes, mainly former Ministry of Defence properties, have been put out to tender.
This takes the total to 1,234 homes which have been made available so far.
Mr Picardo added: “This is an exciting time for Gibraltar and we continue to deliver affordable housing for our community.”
“We continue to build upon our track record in providing affordable housing for Gibraltarian families to grow and for our community to prosper.”
process commence and I look forward to seeing these magnificent homes become a reality for the many who need them. We have been busy with Brexit but we have not stopped delivering in all other key areas.”
Deputy Chief Minister, Dr Joseph Garcia, said: “The Government is delighted to announce this housing scheme in keeping with our commitment to deliver affordable homes.”
“We have already completed successful housing projects at Beach View Terraces and Mons Calpe Mews which have seen hundreds of Gibraltarians move into new homes.”
“Hundreds more will look forward to a flat in this new scheme.”