Sun | Oct 24, 2021

NHT plans to invest $57.7 billion on housing solutions

Published:Wednesday | March 3, 2021 | 3:22 PM
Prime Minister Andrew Holness (right), presents new homeowner, Treveen Palmer, with her keys to a unit in the National Housing Trust’s (NHT) SilverSun Estate development in St. Catherine, recently. (contributed photo)

The National Housing Trust (NHT) plans to invest $57.7 billion to facilitate commencement of 8,513 housing solutions and completion of 7,043 units by March 31, 2022.

The information is contained in the Jamaica Public Bodies Estimates of Revenue and Expenditure for the year ending March 2022.

The NHT’s plans include, the commencement of construction on units in Albion, St Thomas and Point, Hanover under the Guaranteed Purchase Programme, as well as solutions at Mount Nelson, Manchester; Fontabelle, Westmoreland; and Rasta City, Kingston.

Additionally, the solutions scheduled to be completed include, Colbeck Castle Phase one and two, St Catherine; Friendship Phase one, St Elizabeth; and Ruthven Road Phase one, Kingston.

The planned level of capital expenditure includes the disbursement of 12,083 mortgage loans under different programmes, including build on own land, open market, construction, joint mortgage finance and house lot loans.

Meanwhile, the NHT will continue to provide special subsidies and grants amounting to $1.6 billion. This allocation will include provision for community renewal projects and mortgage subsidy aimed at increasing access to benefits by contributors in the lower income bands.

Also included is the refurbishing of 10 police stations at a cost of $485 million.

The NHT will also continue to manage the operations of Emancipation Park.

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