NEARLY 400 new homes will be on sale in July under the government’s 50/50 housing scheme.
Bob Peliza Mews will be built at the site of the old generating station, which will be decommissioned once the new LNG electricity plant comes online.
Another 83 purpose-built flats will be built to be rented for the elderly.
Prices for the homes will be available on July 8 with applications invited from that date onwards.
The majority of the flats (221) will be three-bedrooms, while there will also be 86 two-bedroom and 80 four-bedroom flats on sale too. Finally, there will be nine one-bedroom and three five-bedroom flats apart from the elderly homes for rent.
Priority will be given to those emptying rented flats and on the housing waiting list. Those who live in Gibraltar but do not fall into these categories will also get an opportunity to buy these homes.
The 50/50 scheme will give residents the opportunity to buy properties at half price, making them even more affordable.
“I am delighted that our Government continue to provide for our community,” said Minister for Housing Samantha Sacramento. “Housing is a fundamental cornerstone, and the provision of housing is a priority for us.
“This new estate will provide homes for those who wish to purchase, and additionally, within the same estate will also provide rental homes for our elderly community.
“It is a model we successfully pioneered at Mons Calpe Mews and which we know will significantly improve the lives of those who will live there.”
For his part, Chief Minister Fabian Picardo called it ‘magnificent project’ for something that was in demand.
“The figures are clear from the interest already shown for those wishing to purchase at Hassans Centenary Terraces which was almost four times as much as the number of flats available to sell,” said Picardo. “This shows that we have that we have properly understood the market.
“The allocation criteria which gives priority to those who release government flats and the construction of rental accommodation will have a significant knock on effect on the rental stock that will become available.
“In turn this will provide for those in our community who are unable to purchase.”
The project will mean the amount of homes built by the current government will soon hit 2,000 after Beach Views and Mons Calpe Mews were completed within the first term of the GSLP/Liberals.
It follows on from the Hassan Centenary Mews announced earlier this year and another development to be presented at the end of June.