The National Housing Corporation (NHC) recently launched the construction of 10500 homes dubbed Stoni Athi Waterfront City in Athi River, Mavoko Sub County.
Speaking during the launch of Stoni Athi Waterfront city, Transport, Infrastructure, Housing, Urban Development and Public works CS, James Macharia noted that the houses are being developed on 150-acre land at a total cost of Sh20 billion.
Macharia observed that the houses which target low, middle, and high-income earners will be a multipurpose housing entity varying from residential, commercial, recreational facilities, schools and hospitals, adding that they will be a milestone in combating the crisis of affordable housing in the country.
“Today marks a key milestone in the affordable housing program as we launch the Stoni Athi waterfront city project. Upon completion, the project will have more than 10500 homes which will accommodate mixed use developments to fulfil the NHC mandate of housing the nation,” he said, while urging more private investors to engage in housing project.
“The Mavoko project comprises 5,000 affordable housing units costing between Sh1 million and Sh3 million per unit, and 5,500 units targeting middle and upper-income households for between Sh2 million and Sh8 million a unit, added the CS, terming the project as a game-changer.
Macharia says the government has built more than 186,000 housing units in the past eight years as part of the efforts to provide decent housing for Kenyans.
He further disclosed that the NHC will also be developing 5,000 housing units in the Konza Techno City.
“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,” he said.
Macharia noted that the NHC has potential in developing homes for Kenyans since it has appropriate policies and technical expertise in planning, designing and implementing housing projects.
Furthermore, the CS reiterated that the housing corporation has the ability to structure financial solutions and enhance the use of innovative structures to unlock the housing challenge in the country.
“NHC has the ability to structure financial solutions through collaborations with financial partners. It also has the expertise to develop and present vehicles through which the county government can facilitate the development of affordable homes within the area,” said Macharia.
