St. Maarten’s general pension fund administrator, APS, has over the course of the past weeks begun conducting several information sessions on the Welgelegen Homes Project. Attending the sessions have been persons who have indicated their interest in the APS housing project, which will be known as the Oryx Residences.
During the sessions Michele Noll and Alexandra Osterholt of KEY, a concierge real estate company, provided information to prospective home owners, many of whom are first-time home buyers. The sessions additionally cover the project timeline, mortgage lending, home ownership and other relevant information. Michele and the agents at KEY are striving to make information clear and available, stating themselves that, “We would like all the participants to join us at these sessions to obtain important information on the process of becoming a first-time home owner.”
“APS takes an active role in these sessions as well, by sharing with participants our reason for developing the housing project. We feel it’s important to help get St. Maarten residents into their own homes. People still want to own a piece of this paradise island”, says APS director Nadya van Putten.
She adds that the project allows participants of the pension fund to benefit from being a member of the fund during the active stage of their career, instead of having to wait until reaching retirement.
The APS housing project envisions construction of 62 units, 44 of which will be two- or three-bedroom townhouses. The project further includes 18 apartments of 1, 2 or 3 bedrooms. Sales prices are dependent on the size of the unit. However, the maximum price will not exceed 250,000 U.S. dollars for the largest units. Characteristics of this development project are, amongst others, that it will be a gated community with the layout and design promoting a genuine community atmosphere with a central outdoor area where neighbors can come together whenever they so desire.
The pension fund is convinced that the project will give persons the opportunity to invest their hard-earned money in a quality home, built with quality materials, in a quality location, at an affordable price.
According to the APS director, St. Maarten’s general pension fund administrator continues on a path to contribute to relieving the post-Irma housing shortage on Sint Maarten by building more homes and fast-tracking ongoing housing development projects. Barring unforeseen circumstances, the project is scheduled to start in the second quarter of 2018.
APS has already committed itself to stimulating the economy by engaging local (sub) contractors in this and other future development projects.