Former property owners in the Booby Alley community of St. John’s could receive cash compensation or use the assessed value of their former properties toward purchasing condominiums at the new Pelican Court housing development, as the Antigua and Barbuda
government
works out arrangements for allocating the units.
The options were discussed during Cabinet’s latest meeting as officials continued preparations for the completion and occupancy of the 150-unit housing development, which is being constructed to replace the former Booby Alley community.
Director General of Communications Maurice Merchant, speaking at Thursday’s post-Cabinet media briefing, said the government is examining how former property owners will be accommodated under the new housing arrangements.
Under the approach being considered, eligible former owners could choose to receive compensation based on the assessed value of their previous properties or apply that value toward purchasing a condominium at Pelican Court.
The arrangements would seek to account for the property interests of former residents while providing opportunities for them to return to the redeveloped community.
Prime Minister Gaston Browne has indicated that former owner-occupiers should receive priority consideration in the allocation of the new housing units.
However, the government has not finalized all aspects of the allocation and compensation process, including the precise financial arrangements for individual property owners.
Cabinet has also discussed indicative condominium prices ranging from EC$150,000 to EC$175,000, although final selling prices have not been announced.
The proposed compensation arrangements are particularly significant for former property owners whose assessed property values may differ from the eventual purchase prices of the new condominiums.
For former homeowners who lived in their properties, the government is considering mortgage arrangements to cover any difference between the assessed value of their former homes and the cost of a new unit.
Merchant said the National Housing Scheme could assist with financing at rates lower than those offered by commercial banks.
He explained that the intention is to ensure residents can afford the new accommodation without being placed under additional financial hardship.
The proposed cash compensation option would apply particularly to people who owned small properties in the former Booby Alley community but did not live there.
The National Housing and Urban Renewal Company is expected to conduct further assessments to help determine appropriate selling prices and arrangements for prospective occupants.
The Pelican Court development, financed through an approximately EC$50 million grant from the People’s Republic of China, is intended to provide modern, climate-resilient housing for more than 300 former residents.
Occupancy is being targeted for January 2027, allowing additional time to complete legal, administrative, landscaping, infrastructure and property management arrangements following the formal handover.
Browne is also expected to meet with former property owners as the government finalizes the allocation process.
Cabinet has emphasized that the arrangements must be fair and transparent, taking into consideration the assessed value of former properties, previous occupancy and the individual circumstances of property owners.
The government has not yet announced when the compensation and purchase arrangements will be finalized.
This article was originally published by Antigua News Room. Read the original article here: Former Booby Alley Property Owners Could Receive Cash Compensation or Buy Pelican Court Condos.