Housing Authority boosts urban regeneration scheme

The Housing Authority is planning to invest Lm3 million in buying vacant property as part of its urban regeneration scheme to boost the supply of affordable housing.

The authority is hoping the scheme will encourage owners to come forward with an offer, preferably within the urban core areas.

The criteria used to assess the applications submitted are value for money, the regeneration of urban cores and the specific needs of the authority's clients.

The scheme, launched yesterday by authority chairman Marisa Micallef and Social Solidarity Minister Dolores Cristina, aims to tap into the estimated 35,723 vacant properties. This figure, which emerged from the 1995 census, includes 13,000 properties that are used as summer residences, with the bulk, 22,756, permanently vacant.

The largest number of vacant property, 5,022, is found in the Grand Harbour area, which includes Valletta, Vittoriosa, Cospicua and Senglea.

Asked if the authority was hopeful that people would come forward, especially since the present property market was so buoyant, Ms Micallef recognised this could be a problem. However, there was no saying what could be offered and they were willing to buy old property that could be restored, as well as new blocks.

Once acquired, the property will be used in the authority's other schemes such as shared ownership and sheltered housing, among others, as part of this urban renewal project.

Ms Cristina said the investment by the Housing Authority was very welcome since it had a three-pronged effect.

"It allows us to provide more social housing for those in need, while breathing life back into village and town cores. Apart from this, the scheme also allows for the recovery of previously existing property as we have already seen in Msida, Cospicua and Floriana," she said.

Ms Micallef said the main aim of this initiative was to acquire dilapidated property for regeneration with a focus on Valletta, Cottonera, Hamrun, Qormi, and Birkirkara, though the authority will consider other localities. The authority's clients are concentrated in these areas and, thus, by increasing housing supply in the localities it would be better meeting its clients' needs. The authority is inviting applications from owners who wish to sell their property.

Properties in the older urban cores will be given preference. The property offered for sale should comply with requisites established by the authority. Owners have to apply on the prescribed application form, which can by obtained from the authority's offices at 22, Pietro Floriani Street, Floriana or from its branch at 25, Enrico Mizzi Street, Victoria during normal office hours.