Contractors eye HDC incentive programme

TT Contractors Association (TTCA) vice president Glenn Mahabirsingh says several member-companies are now interested in taking part in the Housing Construction Incentive Programme (HCIP).

Launched in January, HCIP is an initiative of the Housing Development Corporation (HDC).

Speaking with Newsday today, Mahabirsingh said HDC managing director Brent Lyons made a "very detailed" presentation to the TTCA on Wednesday.

"Mr Lyons fielded questions throughout and gave all of us copies of the HCIP information booklet, which includes pre-approved house plans. We were happily surprised to get that level of detail. Another positive thing is that the HDC seems open to facilitating the delivery of houses, (such as) removing bottle necks in the approval process while ensuring a quality product.

"One of our member-companies is already engaged in HCIP and after this meeting, I know others are planning to become involved too because there's a huge demand for housing. So this is an opportunity for business and through this programme, the HDC has a system in place to better facilitate the delivery of houses."

HCIP was designed to achieve four things: satisfy the current demand for affordable housing by low and middle income families while reducing the HDC's 176,000-plus waiting list, tap into private funding, stimulate the economy and present developers with a sound option for return on investment.

Under HCIP, a cash or land incentive is available to successful participants for the construction of two-bedroom and three-bedroom single family units – the most-requested type of housing by HDC applicants – three-bedroom duplexes (side by side), three-bedroom townhouses and two-bedroom apartments in a four-apartment building.