The first purchasers of Southside cottages have begun moving into their new homes, the Bermuda Land Development Company announced this week.

The new residents are the first of more than two dozen families who will make Southside in St. David's their home in the coming months.

The BLDC housing sales programme was launched in August with potential buyers being offered 26 completely renovated three-bedroom cottages in three different models.

Already 23 of those 26 cottages, on the former US Navy base, have either been sold or have buyers with approved financing.

New resident Doris Brooks said the Southside housing programme gave people an affordable opportunity to become homeowners.

"I've looked at so many other properties and I saw nothing that was under $415,000,'' she said. "Here at Southside with a three-bedroom house on a quarter of an acre, I am effectively saving $100,000.

"I'm thinking that that's money that could go to my pension savings.'' Mrs. Brooks added: "I believe that when this project is completed, it's going to be a beautiful community. It has a lot to offer: beautiful beaches, a grocery store, a great variety of walking trails, and it's away from the hustle and bustle.

"I've also met my neighbours and I'm really pleased.'' Tracey Furbert said moving into a Southside cottage marked the achievement of a life goal, particularly in terms of freeing her from landlord rules and regulations.

"I'm my own master now,'' she said. "This whole experience has been overwhelming. When we walked into the cottage at Southside, it felt like home.

I also like the feeling that this is going to be a close knit community -- self-contained and comfortable.'' And she noted: "Equally important was the fact that the cottage was affordable. I didn't think I'd be able to own a home anywhere in Bermuda. I'd had no positive feedback from realtors.'' The cottages are located in a ribbon of land below Emily's Bay Lane.

The first ten units are scheduled to be occupied within the next few weeks, with the remaining 16 units occupied as renovations are completed in March and May.

Each cottage occupies its own lot which vary in size from .19 to .39 acres.

Renovations include new Bermuda-style roofs, new kitchens and bathrooms, electrical and plumbing upgrades, new doors and window shutters as well as landscaping.

The sales programme was restricted to Bermudians only and aimed at first-time home buyers.

To extend ownership opportunities to as many families as possible, the BLDC put together a Home Buyers Assistance Programme.

This was designed to help people who had the household income to qualify for a mortgage, but who could not afford the down payment of 20 to 25 percent normally required by mortgage companies.

Under it, people are able to purchase certain Southside cottages with a down payment as small as five percent.

BLDC Chief Executive Officer Carl Musson said: "Our home ownership programme is a vitally important part of our work at Southside.

"It has created new ownership opportunities, particularly for families who may not have been able to buy a home under current market conditions.

"It is also creating new neighbourhoods that, we believe, will be known for their charm, tranquillity and sense of community.'' BLDC GOVERNMENT GVT