In a strategic move to boost affordable housing, the National Housing Trust (NHT) has implemented a reimbursement system in the Developers Programme, aimed at improving builders’ access to financing for housing projects.

Speaking with JIS News recently, Senior General Manager for Construction and Development, Brian Saunders, said the initiative will compensate developers for the preliminary expenses they covered, such as feasibility studies, geotechnical assessments, and environmental permits.

“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,” Saunders added.

Also, the facility ensures that once developers complete their project designs and secure approvals from the Municipal Corporation, they can receive financial support from the NHT.

Saunders further noted that the NHT will also reimburse infrastructure costs in phases, allowing developers to submit valuation certificates for completed works.

The Developers Programme forms part of the NHT’s broader mission to increase affordable homeownership opportunities across Jamaica. Under the initiative, builders can use NHT-provided land as collateral to secure funding. The NHT will also purchase 80 per cent of the housing units, while developers retain the remaining 20 per cent for sale.

By fostering collaboration with private developers and easing financial constraints, the NHT is making significant strides towards meeting the growing demand for affordable housing.

For more information about the Developers Programme, interested parties are encouraged to contact the NHT.