RENAISSANCE PARK’ HOUSING PROJECT TO FEATURE ‘RENT-TO-OWN’ ARRANGEMENT – MARIA BROWNE

Housing Minister, Maria Browne is excited about plans for a new housing project in St John’s Rural East.

One of her proposed projects is called “Renaissance park,” which aims to transform government-owned land into a housing development.

Minister Browne says cabinet has agreed to terminate 99-year lease arrangements on select parcels of land to clear the way for the development.

She explains that residents currently living on those lands would receive legal title to their homes.

The project would include a mix of townhouses and single-family homes.

It would also feature a rent-to-own arrangement, designed to make home ownership more accessible for people who cannot afford large upfront payments or traditional bank financing.