Sh 5B Anderson Affordable Housing Project kicks off in Kisumu

 

Kisumu Governor Prof Anyang Nyong'o is shown the artistic impression of the Anderson Housing Project whose phase one has been launched in Kisumu today.With him is LAPTRUST/CPF CEO Dr Hosea Kili and the new Kisumu County new CEC Member in charge of Lands, Physical Planning, Housing and Urban Development Jerome Ochieng-Photo Courtesy 

By Dickson Odhiambo

May 30, 2024

Sh 5B Anderson Affordable Housing Project kicks off in Kisumu

The construction of affordable Housing at Anderson Estate in Kisumu has kicked off.

The LAPTRUST and the County Pension Fund (CPF) in collaboration with the County Government of Kisumu have today broken ground on the Anderson Affordable Housing Project in Kisumu County.

The construction of over 1,200 decent and affordable housing units is designed in line with both the National and Kisumu County Governments’ affordable housing agenda.

Furthermore, the concept of street commerce which is at the heart of Kisumu City’s economy has been embedded in the proposed project by way of providing retail shops along the major access roads.

Speaking in Kisumu today during the unveiling ceremony, Kisumu Governor Prof Peter Anyang’ Nyong’o said the Anderson Affordable Housing Project will not only provide decent and affordable housing to the residents of Kisumu but will also go a long way in providing employment to thousands of youth and women through provision of labour, supply of building materials and catering services to the construction workers among others.

Nyong’o says housing is a critical pillar for revitalizing economic growth across our nation. Unfortunately, adding that they find themselves in a paradox where affordable housing remains scarce, and the housing that exists is often beyond the financial reach of many.

 “This project not only promises to enhance the living standards of our residents but also plays a crucial role in stimulating economic growth, spurring industrial development, and creating employment opportunities,” Nyong’o says.

Nyong’o says upon completion, the Anderson Affordable Housing Project will provide 1,200 quality housing units, a big transformation to our cityscape.

“It will be delivered in Two Phases at a total cost of Ksh 5 Billion.  It will have 950 parking lots. Phase I of the project is now approved and ready for roll out with the groundbreaking ceremony being done today.I have been briefed that the Units will cost from Ksh 7 m for three bedrooms and Shops to Ksh 4 m for one bedroom plus shops. More details from this will be provided by Laptrust,” Nyong’o adds

 Nyong'o has hinted that the name Anderson may be changed to Ofafa Estate, adding that this will be in memory of Ambrose Ofafa who was the Treasurer of the Luo East African Union.

While launching the project, CPF Group Managing Director/CEO Dr. Hosea Kili, noted that demand for new housing units especially in urban areas has been estimated at 250,000 units against an estimated supply of 50,000 housing units.

He further pointed out that the housing segment of the Government’s Bottom-Up agenda presents an opportunity for pension funds to provide decent and affordable housing, stimulate economic growth and spur industrial growth thus creating employment while lifting the standards of living for the people.

“We, at LAPTRUST and the County Pension Fund - strongly believe in leading the way in coming up with innovative ways of solving problems; for the benefit of our members as well as our stakeholders. LAPTRUST, in line with its objective of delivering sustainable returns to its members, has a diversified investment portfolio that includes affordable housing, as a way of unlocking value on existing properties across various counties. The Anderson Affordable Housing project is one such real estate investment” Dr Kili says.

The Anderson Affordable Housing Project marks a significant milestone in the CPF Group’s commitment to creating sustainable and inclusive communities that thrive on innovation and economic empowerment.