$222-million housing development for Cambridge
A $222-million housing development is now under construction in Cambridge, St James that will offer 109 two-bedroom units for sale at $2.3 million each.
The development rests on 18 acres of land 16 miles south of the tourist resort of Montego Bay.
The project, which will also include 10 commercial lots, a community centre and a playing field, will last for 15 months during which it will provide employment for 50 persons.
Cambridge Meadows is one of 20 joint venture projects which the Ministry of Housing and members of the private sector will collaborate on over the next six months — to provide an additional 4,666 housing solutions valued at $6.9 billion.
The Jamaica Mortgage Bank will provide a loan of $105 million of the total cost of the Cambridge project.
According to Barbara Woolery, a director of W A W Developers Limited – developers of the project — several years ago, her company approached the housing ministry and financial institutions for assistance, after recognising that there was a need for housing in the Cambridge area.
“Now we are proud to be associated with the Ministry of Water and Housing and the Jamaica Mortgage Bank for making this project a reality,” Woolery said at a recent groundbreaking ceremony.
According to Woolery, the houses are value for money as each one can be expanded from the two sides, the rear and the top.
“The project is attractive and is environmentally friendly. It is an exciting one, which we know, that will not only bring much needed shelter, but which we are sure will bring added activities and employment to the community and the environs of Cambridge,” Woolery said.
According to permanent secretary in the housing ministry, Genefa Hibbert, since the mid-1990s the ministry has vigorously pursued a bold new initiative of mobilising and merging public and private sector resources in an effort to combat the challenges facing the housing sector.
“Through these initiatives we have, for the last eight years, afforded the delivery of shelter in a manner that has improved the levels of efficiency, quality and ultimately the affordability of housing for Jamaicans,” Hibbert said.
She said the ministry’s joint venture programme has provided more than 3,700 housing solutions to date, at a cost of $4.3 billion and an additional 17 joint venture projects are expected to come on stream shortly.
