MINISTER in the Ministry of Housing Phillip Alexander says the Housing Development Corporation (HDC) is seeking legal advice to recover millions following what he termed a massive financial misstep at the Ridgeview Heights project in Bon Air North.

He told members of the media during a site visit yesterday that units valued at a maximum market price of $600,000 were built under the previous administration at costs reaching up to $1.5 million per unit, leaving taxpayers to shoulder hundreds of thousands of dollars in losses per home.

Noting that HDC is a developer, he explained, “When you go to build as a developer, you build to the market because if you don’t build to the market you will end up going out of business but HDC doesn’t have to go out of business.”