June 2018c

54 55 THE NATIONAL HOUSING DEVELOPMENT TRUST The National Housing Development Trust AFFORDABLE HOUSING FOR CAYMANIANS T he National Housing Development Trust (NHDT) is a not-for-profit company established in 2003 by the government of the Cayman Islands that now oper- ates - under the auspices of the Ministry of Health, Environment, Culture, and Housing. “Our mission is to con- struct houses in planned communities and facilitate afford- able home ownership for the Caymanian people,” explains its General Manager, Julio Ramos. “The NHDT is designed to assist housing accommodations and provide facilities and ame- nities, as well as loans, advances, and guarantees for housing opportunities. These are rolled into programs that we offer for affordable housing for individuals in different gaps of income.” The company’s initial program was the Affordable Housing Initiative (AHI). “Its mandate was, and continues be to assist low-income families in realizing their dreams of homeown- ership,” Ramos continues. Under the AHI, homes that were built by the government, on land that it owns, were offered to first-time, low-income home-buyers who met the Afford- able Housing criteria. “The mortgage is obtained through the banks, but the price does not include the cost of the land,” Ramos explains. “The government has pledged the land for the house, so the individual is given the opportunity to buy a house, minus the cost of the land because they’re built on our AT A GLANCE THE NATIONAL HOUSING DEVELOPMENT TRUST WHAT: A not-for-profit company established by the government of the Cayman Islands WHERE: George Town, Cayman Islands WEBSITE: www.nhdt.gov.ky