Gov’t to sweeten deal for developers of affordable housing

MONTEGO BAY, St James — In an effort to increase the stock of affordable housing available to the country’s young professionals, the government plans to put measures in place to woo more developers into that segment of the market.

“We will make special provisions – fiscal and regulatory – to help you to get the properties that can be developed for housing, provided that those housing are going to be brought to the market at a particular price point to meet that growing segment of young people, young professionals who are looking to acquire their first homes,” said Prime Minister Dr Andrew Holness in an appeal to developers.

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He was speaking during Saturday’s groundbreaking ceremony for the US$125-million Richmond Hill Club mixed-use development in Montego Bay. The prime minister used the opportunity to return to a topic he has addressed repeatedly.