BALACLAVA, St Elizabeth — The National Housing Trust (NHT) is on the verge of concluding a joint venture with a private developer for 1,500 “housing solutions” in St James, Prime Minister Portia Simpson Miller has announced.

The prime minister told a function for the handover of service lots to prospective home owners in Balalclava on Wednesday that additionally the NHT is concluding arrangements to provide interim financing for three housing projects in Hanover, St James, and St Catherine.

Simpson Miller said one in Hanover will provide “more than 1,000 new housing solutions, another will provide 244 housing solutions in St James”, while “the third will provide 116 housing solutions in St Catherine”.

The prime minister said the initiatives were driven by the recognition that “to meet the growing demand for housing, we have to work with private developers”.

She said the Government would be moving to encourage financial houses such as building societies to invest more in housing development.

“One of the challenges we face in meeting the huge housing demand is how to get more private sector investment in housing. To this extent, the NHT will be having discussions with building societies and other institutions. We want to explore possible ways and means to make investment in housing more attractive to them,” she said.

She noted that the NHT recently responded “pressures” from potential home owners by reducing interest rates for new borrowers by one percentage point and increasing the loan ceiling from $4.5 million to $5.5 million.

“I am encouraged that following the announcement of this policy change, new constructions are on the increase,” she said.

In Balaclava, the prime minister participated in the presentation of letters of possession to new owners of lots at the planned housing development to be known as Balaclava Heights.

The NHT said it had developed 113 lots (110 for residential purposes at an average size of 7,000 square feet and three of an average size of 6.1 acres for agriculture) at a cost of $237.1 million. Prices for residential lots range from $2.1 million to $3.1 million while the agricultural lots are being sold for $5.25 million.

The NHT said 82 per cent of the people approved for the Balaclava scheme are aged 26-45; 35 per cent are from the “administrative, clerical and accounting” job group; 23 per cent are teachers; 24 per cent are in a range of jobs including drivers, mechanics, farmers, plumbers and office helpers; nine per cent are medical personnel; and nine per cent are involved in security.

According to the NHT, the development includes green areas and playfield/communal recreational areas, paved roads and kerbs, storm water drains, potable water distribution network and a JPS pole distribution system.

Simpson Miller reminded her audience that a few years ago she had pledged a housing development for the Balaclava area. This was now a case of “promise made, promise kept”, she said.

Minister with responsibility for housing, Morais Guy, who spoke prior to the prime minister, underlined the need for “partnerships” and an “integrated approach” to the thorny problem of providing adequate housing. He argued that shelter should be viewed as “fulfilling a basic human right”.

Member of Parliament for St Elizabeth North Eastern Raymond Pryce said the NHT development in Balaclava complemented expansion of schools in the area, including the recently renamed Roger Clarke High School. He described the NHT project as one of the more “rewarding achievements” during his four years as MP.

Councillor for the Balaclava Division and head of the St Elizabeth Parish Council Everton Fisher reminded his audience that local authority rules now required that all newly built houses should have rain water catchment facilities. This, he emphasised, was to help ease chronic water shortages caused by drought and inadequate public water supply services.