The final phase of Government's affordable housing scheme Loughlands has opened and was hailed as an example of a successful cross-ministry initiative.

A procession by Gombeys marked the official opening of the housing development and keys were handed over to the lucky people who had bought homes.

Housing Minister David Burch first announced the 96-unit housing development in 2006.

Originally it was supposed to have a childcare facility, although he said the details were still being worked out.

And as well as being a successful cross-ministry project, Senator Burch also said it was the first public-private partnership used to create housing.

"Late in 2005, Gilbert Lopes approached the Ministry of Works and Engineering and Housing with a view to establishing a partnership with Government to provide affordable housing for Bermudians," Sen. Burch said. "Mr. Lopes, the owner of the Loughlands Estate, expressed his desire to do his part to assist with this country's housing crisis," said Sen. Burch at the official opening on Saturday.

"This Government, having committed itself to the provision of homes for Bermudians at prices that the average hard-working man and woman can afford, jumped at the opportunity.

"The agreement called for the redevelopment of the estate into 96 housing units of 28 three-bedroom and 68 two-bedroom units and a day care facility."

In order to go forward the Historical Buildings Advisory Committee, chaired by the late Minister Nelson Bascome, had to sign-off on the development. Then Premier Ewart Brown agreed to change the zoning for the seven-acres in Paget from tourism to residential.

Then Environment Minister Neletha Butterfield also agreed to grant the project Special Development Order.

The next step, Sen. Burch said, was receiving duty relief for materials to reduce the cost of the units and Finance Minister Paula Cox agree to waive the taxes.

"So, if you have any understanding of how Cabinet-style Government works you will readily see that before going to Cabinet for approval a majority of Ministers had already signed on, thus making the approval process by the full Cabinet easy," Sen. Burch said.

"It is important to note that Government did not make a profit on nor have we subsidised this project, but simply acted as an agent to facilitate sales to Bermudian families."

The Ministry has sold the units to individuals who qualified through the Bermuda Housing Corporation.

"More than housing, this project represents genuine economic empowerment," he said. "Young professionals who could not see a means of 'owning a piece of the rock' soon learnt that this Government's commitment to same was not just words.

"Making homes available to first time homeowners at prices that are simply unavailable in the ordinary marketplace represents the "hand-up" that honest, hard-working young Bermudians deserve and we are happy to provide."

The development of the day care centre has not proceeded as planned because it has "suffered some setbacks as a result of changing funding priorities" he said. But Sen. Burch added that he expected to announce a revised plan for the centre shortly.

Sen. Burch thanked Mr. Lopes for coming forward with a way to help the community, as well as all those who have worked on the development. "This has been a long journey but all of us draw tremendous comfort and joy from being able to help our fellow Bermudians in home ownership. I can assure you that we shall not cease until all our people are adequately housed."