NHT Builds More through Creative Innovations: With housing demand on the rise, the National Housing Trust, NHT continues to create more innovative ideas, projects and programmes to build more houses for less. The NHT’s introduction of the Guaranteed Purchase Programme (GPP) has been one such initiative that has been serving the company in delivering on its medium term housing programme which targets approximately 43,000 housing starts over a five-year period.
The programme, which was introduced in November 2018, leverages the efficiencies within the private sector while also delivering units at a lower cost within a shorter time frame. Under the programme, developers are able to conceptualise and execute their development plan. Thereafter, all or some of the units in the development are purchased by the NHT and made available for its contributors using the NHT’s preferential mortgage financing arrangements
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To date, over 2,800 units have either been built or are at various stages of construction across the island in parishes such as Westmoreland, St James, St. Elizabeth, Hanover, St. Catherine.
More recently, the NHT in partnership with Centauri Real Estate Company Limited (CREC), is undertaking the development of 248 studio apartments for The Howard Apartments Housing Development in St. Andrew. Ground was broken for the project on November 9, 2022 by Prime Minister the Most Honourable Andrew Holness.
In addition to the Guaranteed Purchase Programme, the NHT is also pursuing a Developers’ Programme as well as Joint Venture projects in realisation of its mission to provide more affordable housing solutions for its contributors.