NHT exploring new options to help meet 23,000 solutions target by 2021
The National Housing Trust (NHT) says it is exploring the implementation of an ‘Employer-Assisted Housing Programme’ to support the Government’s thrust to achieve 23,000 housing solutions by 2021.
“This is where an entity may want to get in an arrangement with the NHT and provide housing for its staff,” Corporate and Public Affairs Manager at the NHT, Dwayne Berbick, told JIS News.
He said under the programme, the NHT has been targeting larger companies that have land as part of their portfolios.
“We are also in discussion with some of the (local) associations, for example, the Jamaica Teachers’ Association and the Nurses’ Association (of Jamaica), which, over time, may have benefited from receiving land as part of their negotiated wage packages over the years. We have been trying to get in an arrangement with them where we convert those lands into housing solutions that can directly benefit the association,” he said.
Berbick indicated that the NHT is committed to providing 23,000 housing starts by 2021, and has been working on other programmes, such as the ‘Guaranteed Purchase Programme’, to help achieve the mandate.
“We have been working with developers to provide more durable housing solutions at a faster rate, by purchasing and marketing the units to NHT contributors who are desirous of owning a home,” he said.
Berbick added that NHT contributors benefit from this, as units sold under the programme are eligible for 100 per cent financing, as opposed to units being sold on the open market.
“The developers also win because they know that once construction is completed, the NHT will purchase the units, and they need not worry about selling the units,” he added.
Berbick said that prior to the NHT engaging in such arrangements with developers, the necessary checks were done.
The NHT, since the launch of its Guaranteed Purchase Programme in 2018, has approved four projects under the programme, comprising 2,143 housing solutions.