SINT MAARTEN HOUSING PROJECT
The Sint Maarten Housing Project aims to add between 88 and 100 new apartments to the SMHDF managed social and affordable rental units portfolio and will be situated in Hope Estate. The new construction will include 1,2, and 3-bedroom apartments.
Simultaneously the project will assist the SMHDF with organizational support to bring the organization up to date with fit for purpose integrated financial- housing management software including training of staff. This will allow the SMHDF to better serve its tenant community as well as prospective tenants on the waiting list, automate business processes and enable tenants to interact with SMHDF through a web portal.
Besides SMHDF the project will also provide organizational support to the Ministry of VROMI, particularly assisting in the development of national housing policy, which is expected to improve the accessibility of the whole housing sector.
Component 1 would strengthen the institutional capacity of SMHDF and provide technical assistance to the GoSM to tackle bottlenecks in the broader housing market. It would be comprised of two subcomponents:
a. Subcomponent 1.1: Transformation of SMHDF.
This subcomponent would strengthen SMHDF’s financial sustainability and technical capacity to fulfill its mandate and manage its entire portfolio of social rental housing in a sustainable manner.
b. Subcomponent 1.2: Market enabling reforms.
The project would support the GoSM – and VROMI, in particular – to address critical bottlenecks in the housing market and improve access to affordable housing at all income levels.
This component would finance the construction of new social and affordable rental housing in Hope Estate, to be managed by SMHDF. Based on preliminary cost estimates, the project could deliver approximately 80 to 100 units, increasing SMHDF’s portfolio by 10 to 12 percent.
This component would provide the implementation support to ensure the project’s governance is well managed. This component would finance project management, monitoring, and evaluation of project results.
Project at a glance
|Project Appraisal ID
|Grant Agreement Signed
|US $20 million
|US $2 million