The Housing Agency of Jamaica Limited is investing some $2 billion to develop 425 housing units and lots, which the state agency will sell on the open market.

At least one of the four developments, Stadium Gardens in Kingston, is to be completed by year end.

The 56 units will be listed for sale in May, but are scheduled for delivery to buyers nine months after the project breaks ground.

Nice structures

The latter is set for March, said Joseph Shoucair, managing director of the Housing Agency.

Other developments are to be rolled out in Portmore, St Catherine, and Luana, St Elizabeth.

"The one at Stadium Gardens is going to be nice structures because it is big, and it is two-and-a-half bathrooms and still at a reasonable price in this market," he said.

The units will be 1,000 square feet in size and priced at a maximum $8 million.

The housing agency will also be breaking ground for two housing projects in Portmore: a 260 two-bedroom housing project at Portmore Villa; and 60 two-bedroom units in the vicinity of the '100-man' police station.

The developments will be placed on the market at year end.

The 60 units will cost between $7 million and $8 million, said Shoucair.

Construction of the Portmore units should commence by the middle of this year.

The 260 units are the second phase of a larger project that is being rolled out in three phases. Upon completion, the Portmore Villas project would have delivered 845 units.

The agency, formerly the National Housing Development Corporation, which was rebranded last year to escape the stigma of fraud and inefficiencies linked to the operation PRIDE project, is more advanced, Shoucair said while visiting the project in St Elizabeth.

49 starter units

"We are about to start 49 starter units, a basic studio house with expandable options, at Luana in St Elizabeth. Our plan is that these starter houses will be sold for less than $2.3 million," said Shoucair.

"What we are doing at Luana is a basic structure for those persons who don't really qualify for NHT (National Housing Trust). Somebody has to deal with that low end of the market and that must be us," he added.

The Luana houses will be advertised for sale in June, while the units are due for delivery nine months after construction begins.

dionne.rose@gleanerjm.com