A workshop planned for September is the latest move in the National Housing Trust’s (NHT’s) push to work with developers in providing affordable housing — a major plank in the Government’s policies.

Through a combination of the NHT’s Developers Programme and Guaranteed Purchase Programme (GPP), 18,000 housing units at various stages of construction have been facilitated and there are plans for another 6,000 to come on stream by onboarding players now deemed potential participants in the GPP, according to data provided by the trust.

Now in its second staging, the NHT’s Developers Webinar will be an opportunity for interested stakeholders to learn exactly how they may become involved. In addition to developers, it is open to other players who have a major role in taking housing developments from ideas to reality.

“The webinar is open to regulated financiers, interested developers and contractors who have no current relationship with the NHT, but have the capacity to construct and deliver housing solutions in partnership with the NHT,” the trust’s Senior General Manager for Construction and Development Brian Saunders told the Jamaica Observer’s Real Estate on the Rock last week.

“Participants [will] benefit from first-hand guidance on the eligibility requirements, approval processes, and financing mechanisms required under the Developers Programme and Guaranteed Purchase Programme. The NHT’s team will be on hand to provide information in order to strengthen project proposals and share information on upcoming opportunities for partnership. In addition, participants will benefit from opportunities to network with peers, regulated financiers, and other related public sector representatives,” he added.

Under the Developers Programme, NHT provides land which developers may use to secure financing as they complete designs and obtain approvals needed to execute housing projects. Once the development is complete the NHT buys 80 per cent of the units, with developers putting up the remaining 20 per cent for sale.

Earlier this year, Saunders told JIS News that NHT had rolled out a reimbursement system that made the programme even more attractive.

“We recognise that one of the biggest hurdles in housing development is obtaining financing when there is no physical infrastructure in place. With our reimbursement structure, developers will be in a stronger position to secure loans at more competitive rates, ensuring that projects move from planning to completion more efficiently,” he said then.

Developers are able to receive financial support from the NHT once they complete project designs and secure approvals from their local municipal corporation. The NHT reimburses infrastructure costs in phases, allowing developers to submit valuation certificates for completed works.

Last week, Saunders told the Sunday Observer that since the 2019 launch of the Developers Programme, 14 pre-qualified developers have come on board and the programme has facilitated more than 11,000 houses spread across 13 projects. These are at various stages of construction around Jamaica. In addition, there are an additional 3,323 houses now being built. These include 1,758 in Mount Nelson, Manchester, as well as 1,565 in Barrett Hall, St James.

According to Saunders, contracts are being finalised for work to start on five projects that will provide 3,250 houses. These include 360 houses in Galina, St Mary; 750 in St Elizabeth’s Friendship Oaks Phase 2; plus 1,560 units in Trelawny’s Dry Valley Housing Development, and 580 houses at Greater Bernard Lodge in St Catherine.

The Developers Programme is complemented by the Guaranteed Purchase Programme, which welcomes applications from both public and private sector players in real estate. The arrangement is for the NHT to purchase, for its contributors, all or some of the houses built. It also does the marketing for those units. Meanwhile, the developer accepts all the risks associated with the planning, designing, financing, and completing of the project.

According to Saunders’ data, more than 7,000 housing solutions are directly linked to the Guaranteed Purchase Programme.

“This includes projects that have been completed, projects in construction, and projects in contracting. Over the coming years, the NHT will be targeting, at minimum, a further 6,000 housing solutions, which is to be negotiated with potential developers,” he told the Sunday Observer.