Affordable Housing in Eldoret

N/A

Amount Raised

N/A

Total Investors

Project Overview

Business district and other developments.

Sectors

  • Affordable Housing
US$17,200,000.00
Funding Goal
Kenya
Country
Africa
Region

Objectives

  1. To maximise utilization of land through densification.
  2. Provide housing units that are affordable.
  3. Avail services such as sewerage, water, electricity, schools, hospitals, recreation and other public amenities.
  4. Improve and increase green spaces.

Progress Tracker

Phases

  • Phase 1 (Completed)

    Design

  • Phase 2 (Completed)

    Construction

  • Phase 3 (Completed)

    Uptake and Occupation

Current Stage

Concept Stage: Specific projects are identified and conceptualized. There exists a basic economic model.

Timeline

No

Project Milestones

N/A

ESG Impact

For many years, the municipality has not been able to develop housing projects to accommodate its very fast growing population. The growth rate stands at 3.7% which becomes the fastest in Kenya and the region. Further, Eldoret hosts a number of Universities and has become the regional medical hub due to the existence of a National Referral Hospital and a scores of other quality hospital.

Beneficiaries

  1. Low and middle income earners (approx. 100,000 people).
  2. Civil servants (approx. 50,000).
  3. Private investors (approx. 100,000).

SDG Goals

SDG 1: No PovertySDG 2: Zero HungerSDG 3: Good Health and Well-beingSDG 4: Quality EducationSDG 5: Gender EqualitySDG 6: Clean Water and SanitationSDG 7: Affordable and Clean EnergySDG 8: Decent Work and Economic GrowthSDG 9: Industry, Innovation and InfrastructureSDG 10: Reduced InequalitySDG 11: Sustainable Cities and CommunitiesSDG 12: Responsible Consumption and ProductionSDG 13: Climate ActionSDG 14: Life Below WaterSDG 15: Life on LandSDG 16: Peace and Justice Strong InstitutionsSDG 17: Partnerships to achieve the Goals

Rationale

SDG 3 – Good Health and Well-being

The estate is being established near services that are intended to improve the quality of life such as hospitals (including maternity homes), sports facilities, social hall, proximity to shopping malls.

SDG 6 – Clean Water and Sanitation

The estate will be served by sewerage and water reticulation systems.

SDG 11 – Sustainable Cities and Communities

Through 11.1 safe and affordable housing and basic services, 11.6 reduced environmental impact of cities and 11.7 green and public spaces.

Risks and Limitations

What are the key risks, constraints and dependencies related to the project?

1) Financial Risk – The risk that the operations and/or construction of the project will not be funded sufficiently.
2) Operations and Maintenance Risk – The risk that the project will not be operated and maintained in accordance with the standards set out in the Project Agreement.
3) Force Majeure Risk – Risk that unforeseeable event occurs and hampers the ability of the project partners to construct.

Risk mitigation and continuity

Through the application for, and facilitation of internationally accepted risk mitigation instruments for political risks.

Financing

Type of Investment

Debt

Financing Structure

Public Private Partnership

Secured Investment

1. Land ($4 million) 2. Sewerage, water and electricity ($0.5 million) 5. Amenities: 5.1 Stadium - $2.5 million upgrade 5.2 Maternity Home - $ 1million 5.3 Social Hall, schools.

Committed Government Funding

No

National and Subnational Investors

N/A

Committed Private Funding

No

Support

Technical Support Required

N/A

Stakeholders

Governmental Buy-in

Yes. National level/Subnational/regional level

Other Forms of Governmental Support

Waiver of fees for construction licenses and design approvals, provision of professional supervision.

National Ministries Involved

Mr. Charles Hinga, The principal Secretary, Ministry of Transport, Infrastructure, Housing, Urban Development

SubNational Ministries Involved

Mr. Edwin Bett, County Secretary, County Government of Uasin Gishu

Other Entities Involved

Mr. Tito Koiyet, The Municipal Manager, Eldoret Municipality

Licenses and Permits

No

Updates

  • 10th February 2020

    Cities Investment Platform in progress - updates pending

  • 10th February 2020

    Project featured on the Cities Investment Platform, which was launched at the Tenth Session of the World Urban Forum (WUF10)

Supporting Documents

No supporting documents included.

FAQs

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *