The Joe’s Hill Housing Development is scheduled to remain on budget and be completed 13 months ahead of schedule.
Honourable Wheatley in a statement titled “Joe’s Hill Housing Development” during the Seventh Sitting of the Third Session of the Fourth House of Assembly stated that the development’s contracted time was roughly 3.5 years with an estimated completion date of June 30, 2023. He said with the progress to date, a new estimated completion date is set for May 31, 2022.
Honourable Wheatley said, “The development, recognised as the inaugural phase of the BVI Social Security Board’s (SSB) First-time Homeowner’s Programme, is a Design/Build model. In this arrangement, the Contractor, James Todman Construction Ltd. is responsible for all design aspects and the construction project. The property development component is the SSB’s responsibility, with the project management component assigned to a third-party agency, STO Enterprises Limited.”
Honourable Wheatley further explained that in the Project Manager’s February Report, simultaneous construction works on 19 buildings were underway.
Honourable Wheatley reported that as of March 31, 2021, eight million, four hundred thirty-three thousand, six hundred and seventy nine dollars and thirty-one cents ($8,433,679.31) was expended on construction works, with nine million, four hundred ninety-five thousand, four hundred and twenty five dollars and one cent ($9,495,425.01) remaining to complete the project.
“The development continues to progress within estimated financial projections, with little to no expectation of incurring cost overruns,” Minister Wheatley said.
The minister thanked the board and staff of the Social Security for pushing ahead and making the project a reality. “This is a project we are proud of, as this Government has made home ownership by our young people a priority,” he said.
The Social Security Board continues to provide appropriate social security benefits to their contributors and their families, through strong leadership, prudent investments and the sustained efforts of a highly motivated, committed and professional staff.
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