Gov’t Boosting Ability Of NHT To Deliver More Housing Solutions
By: , December 17, 2021
Photo: Michael Sloley
Prime Minister, the Most Hon. Andrew Holness (third left), cuts the ribbon to open Perth Estate Phase 1A in Mandeville, Manchester following the handing over of keys to beneficiaries on December 15. Joining him (from left) are: Citizens Association representative - Horace Haighs; Minister of Housing, Urban Renewal, Environment and Climate Change, the Hon. Pearnel Charles Jr.; NHT Chairman, Lennox Channer; Member of Parliament for Manchester Central, Rhoda Crawford; and Managing Director of NHT, Martin Miller.
Photo: Michael Sloley
Prime Minister, the Most Hon. Andrew Holness (foreground), tours the model unit at Perth Estate Phase 1A in Mandeville, Manchester following the handing over of keys to beneficiaries on December 15.
Photo: Michael Sloley
Prime Minister, the Most Hon. Andrew Holness (right), tours the model unit at Perth Estate Phase 1A in Mandeville, Manchester following the handing over of keys to beneficiaries on December 15. He was accompanied by Minister of Housing, Urban Renewal, Environment and Climate Change, Hon. Pearnel Charles Jr (second right), and Member of Parliament for Manchester Central, Rhoda Crawford (second left, partially hidden).
Photo: Michael Sloley
Prime Minister the Most Hon. Andrew Holness (right), and Minister of Housing, Urban Renewal, Environment and Climate Change, Hon. Pearnel Charles Jr. plant a fruit tree in front of the model unit at Perth Estate Phase 1A in Mandeville, Manchester, following the handing over of keys to beneficiaries on December 15. Looking on is Member of Parliament for Manchester Central, Rhoda Crawford.The Full Story
Prime Minister, the Most Hon. Andrew Holness, says that the Government is looking to boost the financial ability of the National Housing Trust (NHT) to bring more housing solutions to the market each year.
He noted that over the last five years, “the NHT has increased its output by as much as four times what they were producing before. That, however, has some limitations based on what they are able to finance with their existing balance sheet.”
“We are now in the process of seeing how to leverage the balance sheet of the NHT in order to provide even more housing,” he said, adding that he will provide more details shortly “as to what process we will undertake to increase the financial horsepower of the NHT to further increase its supply to the market.”
The Prime Minister was addressing the handover of housing solutions to new owners at Perth Estate Phase 1A in Mandeville, Manchester on Wednesday (December 15).
A total of 112 housing solutions, comprising 30 two-bedroom units at a cost of $13.9 million each, and 82 serviced lots, costing $3.8 million, have been developed by the NHT during this phase of the project.
The Prime Minister said that the NHT is significantly increasing the supply of houses in Manchester with some 3,406 solutions to be delivered to residents.
“In Perth 2, the NHT is now building 1,406 housing solutions,” he said, adding that there are 2,000 serviced lots and two-bedroom houses coming to Mount Nelson in 2023.
Nationally, the agency will be delivering 21,660 units over the next five years, as the Government makes good on its commitment to provide 70,000 new housing solutions to Jamaicans.
Of the 21,660 solutions, 12,019 are currently under construction and 9, 641 are in the planning stages. The Housing Agency of Jamaica (HAJ) will be providing at least 8,000 solutions.
“We have about 40,000 more units that we still need to bring to the public… I am confident that we will be able to deliver,” the Prime Minister said.
Mr. Holness noted that important issues such as suitable land and affordable price points are being taken into consideration in the provision of housing.
He noted that the 2,189 applicants for the 112 solutions at Perth Estate shows that there is an appetite for housing, particularly at lower price points.
“The mandate that I have given to the NHT and the HAJ is that the solutions that they must now pursue should be around $8 million; within reach of persons,” the Prime Minister said.