Turks and Caicos, September 4, 2024 – Applications for over 600 housing units were on the agenda for approval when the Physical Planning Board last met in its 765th regular meeting on August 27, 2024; the incredible statistics were reported from one single sitting.
Included in those healthy figures, which in most cases for the island of Providenciales and granted ‘conditional approval’ was 46 town houses and 456 houses in what appears poised to become the island’s two newest communities.
Request was made to progress phases one through five for the three bedroom units in the town house development and the Board has given conditional approval to the more massive development of around 500 homes, where investors have also expressed interest in creating commercial, public recreation and retail spaces as part of the project.
From single storey to four storeys and sprawling properties, the agenda for the PPB was stacked, continuing a trend of significant expenditure on new constructions, expansions and renovations in the Turks and Caicos Islands.
Government, through Invest TCI, has crafted investment incentives to generate more interest in housing development in order to reverse the problem of shortages in residential residences.
At the launch of the newly minted Department of Housing, it was explained that a survey revealed people were overspending on rent and that the TCI needed to ensure at least 600 new homes were added to the inventory annually for the next twenty years in order to satisfy demand.
In the 764th meeting of the Physical Planning Board, there were applications for 16 apartment buildings, one subdivision and a 24-room hotel. That meeting was held on July 17, 2024.
Re-post from Magnetic Media Turks and Caicos. To read the full article click here: https://bit.ly/3MujTNs
