South Quay and Lady Hailes Avenue are the two first areas chosen by Government for an HDC initiative dubbed ‘Project 5000’.
Cabinet in January approved an agreement for a Chinese Engineering Company to construct 5000 apartment units.
Both Port of Spain and San Fernando have been chosen for Phase 1 of the project, in which 439 apartment units are expected to be completed in two years.
Site A at South Quay includes 4 buildings with 204 units, while site B at Lady Hailes will have 5 buildings with 235 units.
Speaking at the signing ceremony this morning, Housing Minister Edmund Dillon believes this project will significantly reduce the housing deficit in this country.
Phase 1 of the project is expected to cost 71 million US dollars.