KINGSTON, Jamaica – The National Housing Trust (NHT) on Wednesday broke ground for the The Howard Apartments, a development which will house 248 studio units off Waltham Park Road in Kingston 11.

The project is being completed in partnership with the Centauri Real Estate Company Limited (CREC), under the NHT’s Guaranteed Purchase Programme (GPP), the NHT said in a release.

In his keynote address at the groundbreaking ceremony, Prime Minister Andrew Holness highlighted that while the housing market is constrained by balancing supply with demand, he is assuring that the government will continue to implement policies and strategies to improve efficiencies of agencies tasked with supporting the government’s thrust to provide affordable housing.

“Within the last two years, the NHT has shifted to focus on what we call the affordable income segment of the market. So, we are redirecting the resources of the NHT to focus on houses for persons who are low-income earners or middle to lower-income earners… The project that we are breaking ground for today, fits neatly into that category of income earners,” said Holness.

Member of Parliament for St Andrew South Western, Dr Angela Brown-Burke lauded the NHT for its commitment to constructing safe, modern and sustainable communities.

In expressing gratitude for the opportunity to partner with the NHT, Centauri Managing Director, Julian Zhu, in his remarks, noted that while Centauri was not new to the Jamaican real estate market, this partnership under the Guaranteed Purchase Programme (GPP) would facilitate a meaningful opportunity to contribute to housing Jamaicans at all income levels.

Underscoring the organisation’s dedication to providing quality housing, Zhu noted that through continued collaboration with the NHT, the construction company would be able to provide more housing solutions to lower and medium-income ranges.

On that note of affordability, NHT Chairman Lennox Channer, highlighted that the NHT’s mortgage financing options, led by the organisation’s low-interest rates, continue to shift the market toward improved accessibility and affordability.

“The future residents of The Howard Apartments can look forward to benefiting from facilities like our deferred and intergenerational mortgages, parent assist, 100% financing for our scheme solutions, as well as our Home Grants. These deliberate policy positions and facilities, continue to bridge the affordability gap for our contributors that need it the most,” said Channer.

The Howard Apartments is one of several developments being constructed under the GPP. The Programme, which was launched by the NHT in 2018, allows developers to conceptualise and execute their development plans, while the NHT absorbs the market risk by purchasing part or all of the development. This approach seeks to leverage the efficiencies within the private sector so that units can be delivered at lower costs and within faster timeframes.

Upon completion, residents at The Howard Apartments will enjoy a clubhouse, gazebo, drying yard, children’s play area, exercise area, roof garden, green area and a jogging trail, the NHT said.