MR. SPEAKER, 

I rise today to provide this Honourable House and the public with an update on the Bermuda Housing Trust. I am pleased to inform this Honourable House that the Trust has achieved yet another successive, clean and unqualified audit for the financial year ended March 31st, 2024. The audit was once again conducted by the Office of the Auditor General, and the Trustees are justifiably proud of this outcome. 

MR. SPEAKER, 

Honourable Members will recall that the Bermuda Housing Trust was established by statute 60 years ago, in 1965, to provide affordable rental accommodation for seniors capable of living independently. Today, the Trust comprises five properties island-wide including Haydon Park, Dr. Cann Park, Elizabeth Hills, Purvis Park, and Ferguson Park—together housing approximately 200 senior residents. While the audited financial statements reflect a sound financial position, the Trustees have requested that I also communicate their caution: this picture must be considered in context. Financial pressures loom large, and challenges persist in fulfilling their mandate to provide affordable, quality rental accommodation for Bermuda’s seniors. 

MR. SPEAKER, 

The first of these challenges relates to demographics. The demand for senior housing is rising. As Members are aware, Bermuda’s population is aging, with projections indicating that by 2026, one in four residents will be aged 65 or older. Seniors today are living longer and healthier lives. They value and require affordable accommodation that not only meets their financial needs but also supports independent living—a goal we all share for our parents and, one day, ourselves. 

Currently, the Trust maintains a waiting list of between 50 and 100 qualified applicants—applications, I note, are only accepted from individuals aged 65 and above. 

A second challenge lies in balancing priority placements for those in urgent need while maintaining the current housing stock. This is no easy task. Even more difficult is the Trust’s effort to continue its long-standing policy of not increasing rent for sitting tenants—regardless of the length of tenancy. In today’s climate of rising prices, this is no small achievement. 

Although this policy has largely been maintained, the Trustees have, out of necessity, introduced marginal rent increases applicable only to new tenants. These increases are due to the mounting costs of maintaining an aging housing inventory. Contractors for significant maintenance work are not always easily secured, and scheduling must be carefully managed around the needs of elderly tenants. 

MR. SPEAKER, 

Despite these constraints, I am pleased to report progress. Roof repairs at Dr. Cann Park—the Trust’s largest property—have been completed, and necessary re-caulking and sealing work is now underway to address longstanding leak issues. This essential work has taken longer than expected, and I commend the patience and understanding of the residents who have endured the delays. The Trust has rightly prioritized sealing and securing the exterior before addressing interior renovations—particularly in currently vacant units. 

In support of this work, the then Ministry of Public Works provided private engineering resources to assist with oversight of the caulking and painting project. The Trustees have asked me to extend their appreciation for the support received from my predecessor in Housing, Lt. Col. the Hon. David A. Burch, OBE, JP. 

Additionally, the Trust has strengthened its operations with the appointment of an Executive Director, Ms. Chandra Arandjelovic, significantly improving business continuity, regulatory compliance, and operational oversight. 

MR. SPEAKER, 

The Trustees have also formalized a long-standing part-time role into a fulltime position. Ms. Judy Knight, who for over a decade provided valuable support to tenants, has stepped down, and the position has been taken up by Ms. Quayante Watson as the new Rental Agent. 

MR. SPEAKER, 

It is important to note that the Bermuda Housing Trust currently receives no direct financial support from the Government. Nevertheless, last year, the Ministry of Public Works—together with the Bermuda Housing Corporation— provided invaluable support through architectural, engineering, project management, and maintenance services, for which the Trustees are deeply grateful. Looking ahead, I am committed to strengthening the partnership between the Bermuda Housing Trust and the Bermuda Housing Corporation to ensure we continue delivering the highest level of assistance possible.