The Housing Development Corporation (HDC) has signed a contract with NH International (Caribbean) Limited for the construction of 160 apartments in Mt Hope.
They consist of 120 three-bedroom apartments and 40 two-bedroom apartments.
The contract is a form of public-private partnership whereby NH International has obtained its own financing to fund the cost of the design and construction of the project.
The HDC says this finalised contract resulted from extensive and lengthy negotiations between HDC and NH International, which led to both parties arriving at the most cost-effective and efficient delivery to HDC of housing units for prospective middle-income families along the east-west corridor.
The project is scheduled to be completed within 36 months at a total value of $192,040,419.20 VAT inclusive and inclusive of all financing costs.
Caption: John Connon, Managing Director, NH International (Caribbean) Ltd signs the contract between his company and HDC. Looking on (seated) are Newman George, Chairman, HDC and from left, standing, are Dianne Piper-Sandy, Corporate Secretary, NH International (Caribbean) Ltd; Jason Reyes, Chief Accountant, NH International (Caribbean) Limited; Housing and Urban Development Minister, Randall Mitchell; Managing Director, HDC, Brent Lyons; Kimberly Molligan, Divisional Manager, Legal (Ag.), HDC and Kenisha Lightbourne, Corporate Secretary, HDC