20 Caribbean Terrace residents to get house subsidy
The Ministry of Economic Growth and Job Creation on Monday signed a joint venture agreement valued at approximately $1 billion with West Indies Home Contractors (WIHCON) to develop 96 housing solutions in Harbour Head, Harbour View, St Andrew.
Dr Horace Chang, minister with responsibility for water, works and housing in the Ministry of Economic Growth and Job Creation, in signing the contract, commended the partnership.
"We recognise that we do not have the resources to meet the housing demand, and as such, one of the strategies of this administration is to utilise public-private partnerships such as this for housing solutions," he noted.
Under the agreement, 20 residents from Caribbean Terrace whose homes were destroyed following the passage of Hurricanes Ivan and Dean in 2004 and 2007 stand to benefit from a subsidy provided by the Government should they decide to purchase a unit in the development.
Member of Parliament for East Rural St Andrew Juliet Holness, in whose constituency the development will take place, applauded the project and noted that the impending development was welcome news. Holness commented that there were skilled labourers in her constituency in need of jobs and the development would provide the necessary employment.
Peter Melhado, chairman of WIHCON, said that he was excited to be doing the project and that it will significantly impact employment as the company was projecting to employ approximately 200 persons within the East Rural St Andrew constituency.
The project is expected to start in March 2017 and be completed within 24 months. The development includes 40 one-bedroom units, 40 two-bedroom units, and 16 townhouses.
The development will target individuals within the middle-income group and is expected to satisfy the needs of residents of Harbour View, Caribbean Terrace, and surround environs.