Donald Moore, senior managing director of the National Housing Trust (NHT), believes the 240 studio apartments to be built on Howard Avenue in St Andrew’s will be oversubscribed when the project is completed in 2024.

The project is being carried out in partnership with Centauri Real Estate Company Limited under the NHT Guaranteed Buyer Scheme.

While welcoming the development, some community residents expressed disappointment that the apartments on offer did not provide two-bedroom units to house families with more than one child.

The ground was laid for the $2.4 billion project on Wednesday.

While a final price for the studio units has yet to be determined, Moore said the gleaner that the cost could be in the order of $10 million.

Other facilities that will be available at the resort include a playground, an exercise area, a roof garden, and a jogging and walking path.

Marie Salmon, a resident of Waltham Park, which is close to the area, is delighted that an apartment complex is being built in the community.

“I feel good knowing they’re uplifting the community because it was a ballpark and a bush,” Salmon said. “If it [was] a two bedroom apartment then I would be interested because my family and I cannot live in one bedroom.

Another resident, Beverley Watson, said the gleaner that the apartments would pave the way for young people in the community to own a studio.

Watson said she would be willing to join her son in applying for one of the units under NHT’s Intergenerational Mortgage Scheme.

“A lot of people are happy about it, people who have ambition and really want something for themselves,” Watson said.

As part of the NHT’s selection process, Moore said people who have contributed the longest and have lower incomes are selected first. He said those who apply will be ranked, with those with the most points going first.

“Now, based on your situation, your income and your age, and the length of your repayments, we can calculate your affordability,” Moore said.

Prime Minister Andrew Holness, who paved the way for the development, said the keys are expected to be handed over to NHT in October 2024.

“For the past two years, NHT has focused on what we call the affordable income segment of the market. So we’re redirecting NHT resources to focus on homes for low-income or low-middle-income people…. “, said Holness.

[email protected]