GRAND CAYMAN, (GIS)- Housing Minister, Hon. Dwayne Seymour joined the staff and board of the National Housing Development Trust (NHDT) for a very special ceremony in Bodden Town earlier this month. 

Together with NHDT Board Chairman George Anthony Powell, Mr Seymour officially opened the first 16 homes to be built by the Trust as part of Phase 2 of its Affordable Housing Initiative. Ten homes are already occupied, and a number of existing homeowners attended the opening as did people interested in purchasing the homes.

Mr Seymour notes that Government has long been committed to making low-cost home ownership available so that Caymanians and their families could fulfil the basic human desire of owning the roof over their heads.

“We are striving to create opportunities that will empower Caymanians to ensure that they can enjoy a standard of living that is both high and at the same time affordable,” he comments.

At a cost of around $2.5 million, the new development was funded from revenue from previous NHDT house sales. It is located on a 10-acre site off Lake Destiny Drive, where there are already 20 affordable homes, constructed in 2012.

Last August while finishing touches were being put on the new construction the NHDT Board and staff hosted a successful Open House. This event offered the general public an opportunity to have a close-up look at the available two- and three- bedroom house models.

Some 35-40 people attended, including current residents, affordable housing advocates and the general public.

NHDT Chairman George Anthony Powell says attendees took the opportunity to ask questions and share opinions with NHDT representatives on the homes and the way forward.

“We used the opportunity to provide more information about the process from pre-application to post-ownership. From the feedback that they shared I believe we are on the right path. We remain committed to engaging homeowners and the community alike to ensure that we deliver homes that meet the public’s needs” Mr Powell remarks.

The remaining six homes are available for sale at between $110,000 and $125,000. Eligible applicants must be first-time Caymanian home-owners, with single applicants earning no more than $36,000 per year, or joint applicants earning no more than $50,400 a year.

Once applicants have been pre-approved under the Affordable Housing Initiative criteria and financially assessed by the NHDT, they will be referred to local banks for financing.

For more information interested persons should contact the NHDT at tel: 945-7649 or visit NHDT’s website at nhdt.gov.ky.

East End is the next district set to benefit from Phase 2 of the Affordable Housing Initiative, with plans for West Bay after that.

The NHDT was incorporated in 2003 and its mandate is to provide affordable housing opportunities under its various programmes. The NHDT is a government-owned not-for-profit company, registered under section 80 of the Cayman Islands Companies Law (2002 Revision). The trust’s mandate/remit is to provide home-ownership under its various housing programmes.