PHILIPSBURG:---- Minister of Public Housing, Spatial Planning, Environment and Infrastructure (Ministry VROMI) Hon. Claret Connor and representatives from the General Pension Fund Sint Maarten (APS) on Tuesday, signed off on the notarial deed for the Welgelegen property in Cay Hill that will be used for the development of housing for middle income earners seeking to own their own home.
The signing took place at Notary Tjong Ajong for the 11.129 square meter property. Government has issued the land in long lease for a symbolic ground rent to APS. The country’s national pension fund sees this as a sound investment in the country’s housing infrastructure. APS has the financial and organizational resources to develop and realize a housing plan and sees this as an opportunity in accordance with its established investment policy to invest in the local economy of Sint Maarten.
Present for the signing were Minister of Housing Claret Connor and representatives of APS Franklyn Richards, Chairman of the Board; Richard Gibson Jr., member of the APS Board, and George Willems, Deputy Director of APS.
APS on an ongoing basis continues to look for sound opportunities to invest in the local economy, and evaluates each investment plan carefully according to its established investment policy.
Public housing is very much needed and has been a top priority for this administration, in particular Minister of Housing. “When our people own a home it empowers families and empowered families are positive contributors to the overall development of our Country. The houses will be sold for around US$150,000 up to a maximum of US$250,000,” Minister of Housing Claret Connor said on Wednesday.
The costs of land is very high and this presents challenges. The purchasing by Government of the former Vorst property in Cay Hill has led to the interests of APS to invest in the property which would create opportunities for decent and adequate housing for middle income families, starters and returning young professionals.
Limited housing opportunities for the Sint Maarten middle class has negative consequences for the growth of the country. APS sees investment in the Welgelegen property a win-win win for Sint Maarten’s middle class, Government and APS.
“With this process now progressing past just talk, but actual tangible evidence that our local Pension Fund can invest its money back into the people of the country, if given the opportunity, other initiatives such as this can become a reality, and Government would have invested into other pieces of property in other communities, albeit at a more favourable rate per square meter so that further similar developments can become reality for the general population of our beloved Sint Maarten,” Minister of Housing Claret Connor pointed out.
“I am very pleased that we are able to complete this transaction which was part of the Governing Program. We have only been here since December 19, 2014, not even a year, but have been able to put in place the process to develop middle class housing for the people of Sint Maarten. This is a major accomplishment for this Government. According to the Governing Program of the United People’s (UP) Party led-Government, public housing was a priority area.
“I would like to take this opportunity to thank our own pension fund APS for having the confidence in investing in housing in the country as it is one of the top needs of the people. I thank all those who played a very important role for us to reach this point,” Minister of VROMI Hon. Claret Connor said on Wednesday.
APS was established as of October 10, 2010, and is charged with the task of administering the pension of civil servants, teachers and employee of other government-related organization in Sint Maarten.
