NHT to Mark 50th Anniversary with New State Parks in Manchester and Kingston and St. Andrew

In celebration of its 50th anniversary this year, the National Housing Trust (NHT) will break ground on new State parks in Manchester and Kingston and St. Andrew.

Prime Minister, Dr. the Most Hon. Andrew Holness, announced that the Kingston and St. Andrew park will be located on sections of King’s House lands, while discussions continue regarding the exact site for the Manchester park.

He advised that discussions have commenced with Governor-General, His Excellency the Most Hon. Sir Patrick Allen, regarding the park to be developed on the King’s House property, while parallel talks are being held with the local municipality to determine the location of the facility in Manchester.

The two new State parks are intended to provide major green spaces for recreation and wellness, modelled after the success of Emancipation Park in St. Andrew.

The Prime Minister made the announcement during his recent contribution to the 2026/27 Budget Debate in the House of Representatives.

Dr. Holness stated that the NHT has remained one of the most enduring and consequential institutions within Jamaica’s development framework, noting, “this is an institution that has served Jamaica well”.

He indicated that the annual transfer from the NHT to support the National Budget has not impaired the Trust’s ability to meet demand for mortgage loans, even at zero per cent interest rates.

“In the face of the fiscal pressures created by Hurricane Melissa, the Government had no realistic alternative but to extend the drawdown. Were the drawdown to be discontinued, the $11.4 billion would have to be found elsewhere, resulting in additional taxes beyond those announced.

“I fully acknowledge that Jamaican workers contribute to the NHT with the expectation that those funds will be used for housing. That expectation is legitimate, and the Government takes it seriously, but we have to be clear on what the real challenges are and how to solve them,” the Prime Minister said.

Dr. Holness explained that the $11.4 billion represents the gross amount transferred annually by the NHT to the Government.

He indicated that this amount is netted against the statutory deductions and taxes that the NHT is obligated to pay to the Government. As a result, the Government receives approximately $7 billion to $7.5 billion net from the NHT each year.

The Prime Minister affirmed that the NHT remains a solid, well capitalised institution and does not pose any fiscal risk to the Government.

Dr. Holness advised that, to further improve cash flow, the External Financing Mortgage Programme allows NHT contributors to access their mortgages through approved partner institutions, rather than solely through the NHT.

“The NHT portion of the loan attracts its usual NHT interest rate, even though the loan is processed externally. Furthermore, there has been no issue of misuse or mismanagement of any NHT funds under this Administration,” he said.

The Prime Minister noted that demand for mortgages remains limited due to the availability of homes within the price range affordable to contributors, cautioning that further subsidising demand only serves to drive prices upward.

He reasoned that Jamaica’s housing challenge is not rooted in financing, stressing that “it is a supply crisis”.

“No amount of money sitting on the NHT’s balance sheet will build a single new home without the land, the infrastructure, the approvals, and the construction capacity to put it to work. What we need, urgently and at scale, is a ramping up of housing supply, and when we speak of supply at the scale Jamaica requires, we must think boldly,” Dr. Holness declared.

He highlighted that the Greater Bernard Lodge development demonstrates what can be achieved when government, planners, and the private sector unite around a shared vision and a firm commitment to execution.

“The next major large-scale master-planned development will be the Greater Innswood Development. The NHT is tasked to lead the master planning of this development,” Prime Minister Holness stated.