Mission Statement
The Mission of the The Ministry of Housing and Urban Development is to facilitate the provision of affordable housing to Bahamians of low to medium incomes, by providing them the opportunity to purchase quality-built houses or service lots, in collaboration with building contractors (Approved Builders) and financial institutions (approved lenders), by way of the government guaranteed mortgage loan program.
Historical Overview
The Government of The Bahamas’ commitment to developing a comprehensive housing program began in 1961 with the establishment of the Bahamas Housing Corporation. Following the adoption of the Constitution of The Bahamas in 1964, the Corporation was dissolved and succeeded by the The Ministry of Housing and Urban Development. In 1965, the Department of Housing was created, and since then, it has been aligned with various ministerial portfolios. Today, it operates under the auspices of the The Ministry of Housing and Urban Development.
The Bahamas Mortgage Corporation
The Bahamas Mortgage Corporation plays a pivotal role in financing government-initiated mortgage loans, covering approximately 95% of these loans. Additionally, the Corporation provides construction and infrastructure financing for the Department of Housing. The current limit on guaranteed loans stands at $250,000.00. The Corporation also extends insured loans for privately initiated projects, including new home construction, home purchases, rehabilitation, and structural enlargements.
Housing Construction and Lot Sales
Over the past four decades, thousands of homes have been constructed in New Providence and Grand Bahama, contributing significantly to the housing stock in these regions. Notable subdivisions and locations include Yellow Elder Gardens, Big Pond, Elizabeth Estates, Flamingo Gardens, Palm Tree Estates, Blueberry Hill, Daisy Manor, Cockburn Close, Cox Street, Jasmine Gardens, Faith Avenue, Grays Terrace, Millars Road, Pastel Gardens, Hope Gardens, Millennium Gardens, Jubilee Gardens, Golden Sun, Adelaide, Excellence Estates, Dignity Gardens, East Coral Estates, Yeoman Wood, Sunset, Heritage Community, Frobisher Circle, Wellington Pindar Heights, Lawrence Close, Pine Forest Estates, West Heights, and West End. Additionally, sturdy wooden houses have been constructed through the Ministry’s "Rebirth" Project in areas such as Deveaux Street, Ross Corner, St. James Road, Bain Town, St. Cecelia, and the former St. Margaret’s Constituency. Housing projects have also been undertaken in Abaco, San Salvador, Exuma, and Eleuthera.
The Ministry has facilitated the sale of hundreds of lots for housing construction on the islands of Andros, Abaco, and Eleuthera, further expanding opportunities for homeownership across the nation.
Additionally, sturdy wooden houses have been constructed through the Ministry’s "Rebirth" Project in areas such as Deveaux Street, Ross Corner, St. James Road, Bain Town, St. Cecelia, and the former St. Margaret’s Constituency. Housing projects have also been undertaken in Abaco, San Salvador, Exuma, and Eleuthera.
The Ministry has facilitated the sale of hundreds of lots for housing construction on the islands of Andros, Abaco, and Eleuthera, further expanding opportunities for homeownership across the nation.
Public Rental Units
Beyond homeownership, the The Ministry of Housing and Urban Development has developed Public Rental Units and Senior Citizen Units, providing essential shelter for hundreds of Bahamian families. These rental complexes are located in various communities, including Sutton Street, Peter Street, Penny Lane, Bimini Avenue, South Street, East Street South, Newbold Street, McCullough Corner, Brougham Street, Yellow Elder Gardens, Poincianna Avenue, Windsor Lane, Toothe Shop Corner, Lewis Street, Finlayson Street, and Augusta Street.
Additionally, a Public Rental Unit has been constructed in West End, Grand Bahama, and Senior Citizen Units have been established in Rolleville, Exuma, and Kemp’s Bay, Andros.