The Johnston Development Group Limited (JDG) on Tuesday (October 11) broke ground on its upcoming J$2-billion residential development project in St Andrew called Cardinal Residences.

Cardinal Residences will house 54 units – 36 studios, 12 one-bedroom and six two-bedroom apartments – which will range from US$190,000 to US$450,000, or J$29 million to J$69 million.

Cardinal, to be completed by December 2023, is the first in a series of projects planned by the recently formed company, which is headed by Jamila Kibebi Johnston.

JDG is a year-old company, majority owned by Jamaica Fruit and Shipping Company, of which Charles Johnston is managing director and chairman. Jamila Kibebi Johnston owns another 29 per cent and Dequity Capital Management Limited, which is owned by Kadeen Mairs, holds the remaining 20 per cent.

“With not even being six months in the project, we have sold 46 per cent of our units and I believe that is something that is very very good and with selling those units I believe that we couldn’t have done that without our partners,” said Jamila Kibebi Johnston.

Matthew Samuda minister without portfolio in the Ministry of Economic Growth & Job Creation, who was present at the ceremony, noted the need in Jamaica for more housing and the Government’s plan for 70,000 housing starts within the next two and a half years.

“This project fits very well in what we would classify as our national housing strategy, it is no question that Jamaica has a housing crisis – there is significantly more demand than supply in virtually all categories of demand,” he said.

“When we discuss housing, we discuss the lower income space because you can’t build a society without sustainable housing, this is going to be accomplished through strategic steps taken in our National Housing policy,” he continued.