#Kingston, August 10, 2019 – Jamaica – Construction is to begin by December on 623 new solutions under the Shooter’s Hill Housing Development project in Portmore, St. Catherine at a cost of $7 billion. This is being facilitated through a joint venture agreement between the Housing Agency of Jamaica (HAJ) and Rite Solutions Development Company.
Under the public-private partnership,
affordable housing solutions, starting at $7.6 million, will be built on 157
acres of elevated land, primarily for low-and
middle-income earners. The development is in keeping
with measures by the Government to address the deficit of approximately 20,000
housing solutions yearly.
Prime Minister, the Most Hon. Andrew Holness,
who signed the agreement along with principals of HAJ and Right Solutions at
Jamaica House on Thursday (Aug. 8), said the costs of the units to be provided are
“fairly reasonable,” especially for young professionals.
“I think these are very affordable. I can see
the young nurse, the young policeman, the young university graduate immediately
just waiting to get one of these (units).
I want them to know, those persons who are leaving university, a year or
two out of university, getting themselves settled, that the Government
understands. We know what your ambitions are and we are putting in place the
necessary programmes to allow you to achieve your goal of owning your own
home,” he said.
The Prime Minister noted that the lowering of
the interest rates to zero for National Housing Trust (NHT) contributors, who
earn $15,000 or less per week, has increased demand for housing.
“We have made the market bigger and now we
are…ensuring that we are actually putting solutions on the market,” he said.
For his part, HAJ Chairman, Norman Brown, said
that Shooter’s Hill “with its elevated location, panoramic views and gentle
breeze, will undoubtedly add a new dimension to HAJ’s suite of housing projects
in Portmore for which the market eagerly awaits.”
“We fully expect this project to be completed
on time and within budget as this is the standard we have set for ourselves,”
he added.
In his remarks, Attorney-at-law and General
Counsel, Rite Solutions, Christopher Honeywell, hailed the partnership with the
HAJ “in the provision of affordable and good quality housing solutions.” He noted that Cabinet was instrumental in providing
the guidance and leadership that went into the structuring of the joint venture
agreement, “which ensured a speedy, and efficient take off” of the project.
The Shooter’s Hill Housing Development, which
is to be done on a phased basis over a three-year period, will be a gated
community featuring communal play areas, commercial space and a police post.
Phase one will have the lower priced solutions, while phase two will have
solutions with higher prices and more upscale finishes.
With lot sizes ranging from 4,000 square feet
to 6,500 square feet, the development will comprise 100 one-bedroom starter
units at a cost of $7.6 million; 200 two-bedrooms, one bathroom for $11.5
million to $12.5 million; 220 two-bedrooms, two bathrooms ranging from $13.5
million to $14.5 million; and 103 three bedroom split-level units at $17.5
million. There will be water storage on
site, and each unit will have a solar water heater.
This public-private partnership entails the ‘design, build and
finance’ model, where the HAJ puts up the land as equity along with its
technical, legal and marketing skills, and the partner will design, build and
finance the development, which the HAJ will sell and share the profits.
Contact: Alecia Smith
Release: JIS
Photo Caption: Prime Minister, the Most Hon. Andrew Holness
(seated 2nd left), affixes his signature to a joint venture
agreement, which will see the Housing Agency of Jamaica (HAJ) and Rite
Solutions Development Company partnering to provide 623 new solutions under the
Shooter’s Hill Housing Development project in Portmore, St. Catherine. Other signatories (seated, from left) are:
Minister without Portfolio in the Ministry of Economic Growth and Job Creation,
Senator the Hon. Pearnel Charles Jr.; Chairman, HAJ, Norman Brown; and Right
Solutions Directors, Vincent Taylor and Owen Campbell. Overseeing the proceedings (standing, from
right) are: Attorney-at-law and General Counsel, Rite Solutions, Christopher
Honeywell; and Managing Director, HAJ, Gary Howell. The signing took place at Jamaica House on
Thursday (Aug.8).
Photo Credit: Yhomo Hutchinson