One hundred new homes are to be built in Dockyard at a cost of $34 million, it was announced this morning.

Works and Engineering Minister Derrick Burgess said that Wedco has launched its ‘West End Residential Housing Plan’, designed to “improve the quality of life for all existing tenants”.

Under the plan Wedco will build 100 new rental homes within the lands around the existing Victoria Row. This development is being constructed in two phases to avoid displacing any sitting tenants.

Phase 1 will involve the construction of 40 to 50 units on the property adjacent to current Victoria Row and when finished, the tenants from Victoria and Albert Row will have the first option to move into the units. Phase 2 will see the existing Victoria and Albert Row demolished to make way for new accommodation.

The remaining units will be occupied by other residential Wedco tenants. Any additional units will first be offered to Bermuda Housing Corporation (BHC) and then to the general public.

Mr. Burgess said: “The project is already underway and will break ground over the weeks to come. Wedco is committed to delivering Phase 1 before the end of the first quarter in 2011 and Phase 2 is scheduled to be completed by April 2012.

“The total housing project is expected to be completed within 18 months at a cost of $34 million. The construction of the units is pre-engineered and they will be shipped directly to Dockyard and transported to site.”

Full story in tomorrow’s Royal Gazette