Photos & Video: Work Begins On Albert Row
Work is underway on the Albert Row Affordable Housing Development in Sandys, which will deliver 24 two-bedroom homes that will be available to rent for $2,400 per month.
Speaking at the groundbreaking held last week, Deputy Premier and Minister of Housing and Municipalities Zane DeSilva said, “Albert Row forms part of the first phase of Government’s affordable housing programme, which is focused on delivering approximately 194 residential units across four sites.
“The Albert Row development has been carefully designed to create a modern, attractive and sustainable residential community, providing 24 new two-bedroom homes arranged within two residential buildings. Each residential building will contain 12 units and will be three storeys high.
“Each home will offer approximately 950 square feet of living space together with a private outdoor area, providing quality, affordable accommodation. The development will also feature landscaped communal spaces, a children’s playground, walking paths, seating areas, improved pedestrian connections, and enhanced access to Glass Beach.
“Financing has been secured through Bermuda Commercial Bank, supported by a Government Guarantee with a total cost of $17 million. This equates to approximately $745,000 per unit, key in hand,” the Minister added. “Rental costs for these 2 bedroom units will be $2,400 per month for the first 3 years and rise to $2,500 for the following 3 years.
“Construction is expected to be completed within approximately 12 months, and when these homes are delivered, they will provide much needed housing opportunities for Bermudian families.”
