DEVELOPMENT

NHC launches Sh20 billion affordable housing project

Stoni Athi Waterfront City will be developed on a 150-acre piece of land.

In Summary

•It will comprise 10,500 housing units.

•Five thousand units will be under the affordable housing plan by the government

Transport, Infrastructure, Housing and Urban Development, and Public Works CS James Macharia launches the Sh20 billion housing project in Athi River. With him is housing and urban development PS Charles Hinga and NHC board chairman Stephen Ngare/HANDOUT
Transport, Infrastructure, Housing and Urban Development, and Public Works CS James Macharia launches the Sh20 billion housing project in Athi River. With him is housing and urban development PS Charles Hinga and NHC board chairman Stephen Ngare/HANDOUT

The National Housing Corporation (NHC)has launched a Sh25 billion housing project in Athi River, Machakos County.

The project termed as Stoni Athi Waterfront City will be developed on a 150-acre piece of land with 10,500 housing units.

Five thousand units will be under the affordable housing plan by the government and will cost between one million and three million.

Another 5,500 targeting the middle and upper-income households will be sold at the range of between Sh2 million and Sh8 million.

Speaking during the groundbreaking ceremony, transport and housing CS James Macharia said residents of Mavoko municipality will be among the first beneficiaries of the housing project.

In addition to the houses, the area will have business zones that will house malls, supermarkets, and other stores as well as social amenities including hospitals, schools, boat riding, playing grounds and parks for the residents.

Describing the multi-billion project as game-changer in the region, CS Macharia urged more private investors to engage in more housing projects.

This, he said will not only be supporting one of the pillars of the Big Four Agenda, but will also support humanity by improving access to quality and affordable housing.

“Today marks a key milestone in the affordable housing programme as we launch the Stoni Athi Waterfront City Project that makes a huge contribution towards achieving the National Housing Corporation mandate of housing the nation,” he said.

The government has constructed over 186,000 units in the past eight years, an indicator that it had taken the issue of providing Kenyans with decent houses seriously, CS Macharia said.

He revealed that the NHC will also be constructing 5,000 housing units in the Konza Techno City very soon. 

“NHC can enhance the use of innovative structures such as joint ventures and other collaborative enhancements to unlock the housing challenges facing the country. It has the capacity to provide vehicles through which county governments can facilitate the development of affordable homes,” the CS said.

Housing PS Charles Hinga expressed his concern over the high demand for housing in urban centres—up to 250,000 units per year, yet only 50,000 units can be supplied annually in the current market.

“Of the supply of 50,000 units, 49,000 units are for the upper-middle and high-end market while only 1,000 units are available to the lower segment of the housing market,” he said.

PS Hinga challenged the youth to substitute their desire to buy cars with the need to own houses as the affordable houses were not only affordable homes, but cost the same price that vehicles cost in the market.

He said there are many financing plans to enable the youth to own homes.

“The government has created Kenya Mortgages Refinancing Company (KMRC) to provide a single-digit interest rate which is fixed and a long term mortgage. This means homeowners have an opportunity to access affordable mortgages from KMRC through local banks that are its members,” he said.

He also added that Mavoko residents would be given priority to buy the houses.

Mavoko MP Patrick Makau welcomed the project and asked CS Macharia to draft a stricter urban planning framework that will bring order to the booming construction sector.

“If cleanliness is next to godliness, then planning too is next to godliness,” he said.

NHC board chairman Stephen Ngare said they would be using the expanded polystyrene (EPS), an alternative building technology, which is not only easy to apply but also cost-effective, thus reducing the cost for the buyers.

“The cost savings drawn from use of the EPS are passed on to the eventual house owner. The corporation is able to effectively supply the EPS from its manufacturing plant located here in Mavoko,” he said.

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