Rhyne Park Homeowners Urged to Protect Property Value

Jamaica News: Prime Minister, the Most Hon. Andrew Holness, is urging potential homeowners in the Rhyne Park Estate development in St. James not to engage in practices that will devalue their investment.

He said that no structures should be erected or activities undertaken that are not in accordance with the purchase agreement.

“Some people are going to want to set up shop. Some people are going to want to park their big trailer and tractor, and have mechanic repairs right on the sidewalk. We are not fighting anybody trying to earn a bread but… (this must be done) in a disorderly fashion,” he noted.

“All you are doing is not just devaluing your own property value but the property value of your neighbours and that is unfair,” he added.

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The Prime Minister, who was speaking at the groundbreaking ceremony for the $8.4 billion housing project on Friday (Aug. 9), said he has given instruction to the Housing Agency of Jamaica (HAJ) to ensure that “this new housing development adheres to the appropriate covenant so that this community does not lose value in 10 years time.”

A mixture of 754 one to three-bedroom townhouses, apartment, and single-family units are being built by the HAJ at Rhyne Park Estate under a joint venture partnership with the China-based Henan Fifth Construction Group Company Limited.

The 96-acre development project, to be completed in three years, is intended to respond to the housing needs of low to middle-income earners in St. James, as well as persons employed to the attractions and accommodations sector.

 

Source: JIS News

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