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Affordable Housing

Lagos Partners Family Homes Funds for 20,000 Housing Units

If discussions and strategies being advanced by all stakeholders are finally agreed upon, the Family Home Fund (FHF), Lagos State government and private developers will be sealing deals on large-scale housing development in Lagos, New Telegraph has learnt.

According to FHF’s Managing Director, Mr. Femi Adewole, in an interview with New Telegraph last weekend, the firm and the state government were exploring a potential partnership for a large-scale affordable housing scheme with a specific focus on Lagosians on low income.

Sighted in a meeting with officials of Lagos State government and Ecostone Limited, private developer’s firm in Ikeja, he disclosed that the partnership would include a significant element of regeneration, which would ensure that older parts of the city are brought back into use to provide much needed affordable homes.

The partnership, Adewole said, sought to build 20,000 housing units in the first phase, while targeting 100,000 units in all.

He pointed out that specific mechanism and roles of each party were currently under discussion, adding that the housing units would be massive and that many developers that meet the criteria would be engaged.

The FHF boss said: “The proposals involve a significant number of homes, so there is space for participation by a number of developers who meet the criteria and demonstrate that they are committed to the delivery of homes, which are affordable to Lagosians on very modest incomes since this is the area of interest for the Family Homes Funds.”

Apart from building good quality homes, Adewole added that the programme would be looking to create jobs for Lagosians.

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“Other aspects of the scheme include a committment that we are not just to build housing units; we also need to tackle the environment and climate change issues which now stares us in the face,” he said. “This is important for future generations of Lagosians given that Lagos is a coastal city.”

He added that his firm would place priority on a very high level environmental sustainability standards and energy efficiency in order to respond to climate change challenges.

“As I said, discussions are going on; they are very fruitful and fully committed by all parties,” he said. “I hope that in a very near future, I will be in a position to announce a major partnership with the largest economy in Nigeria.”

The FHF boss said: “The proposals involve a significant number of homes, so there is space for participation by a number of developers who meet the criteria and demonstrate that they are committed to the delivery of homes, which are affordable to Lagosians on very modest incomes since this is the area of interest for the Family Homes Funds.”

Apart from building good quality homes, Adewole added that the programme would be looking to create jobs for Lagosians.

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“Other aspects of the scheme include a committment that we are not just to build housing units; we also need to tackle the environment and climate change issues which now stares us in the face,” he said. “This is important for future generations of Lagosians given that Lagos is a coastal city.”

He added that his firm would place priority on a very high level environmental sustainability standards and energy efficiency in order to respond to climate change challenges.

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“As I said, discussions are going on; they are very fruitful and fully committed by all parties,” he said. “I hope that in a very near future, I will be in a position to announce a major partnership with the largest economy in Nigeria.”

Lagos State Commissioner for Housing, Mr. Gbolahan Lawal, officials of the ministry and that of Ecostone company, a private real estate development firm, were all sighted at the venue of the meeting.
Contacted for an interview, the commissioner declined comment.

Source: NewsTelegraph

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