NHC-National Housing Corporation
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House Price($) :
% Down Pmt :
Loan Term : years
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Explain Calculations: Show me the calculations and amortization
 
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History

The evolution of the National Housing Corporation and its predecessors played an important role in the provision of housing solutions for needy Barbadians during the period 1936-1973.
A brief description of their respective roles is as follows:

Housing Board
Its Initial focus was for Bridgetown residents, eventually growing island wide, with the construction of low income houses and provision of lots for rent at:

1) Deacons
2) Belfield
3) The Pine - St. Michael
4) Clinketts - St. Lucy
5) Sugar Workers Housing Loan Fund and the Public Workers Housing Loans Scheme

The above schemes were administered by the Board to facilitate the financing of housing solutions.

The Housing Authority
The role of this institution was as follows:

I   acquire land for building;
II  layout new housing estates;
III   erect houses and ancillary buildings;
IV   clear slums and redevelop overcrowded areas;
V   lend money for the repair and alteration of existing houses; and
VI  let or lease land and building to low income persons.

Urban Development Corporation
This Corporation developed and sold five hundred and ninety eight parcels of land in West Terrace and Oxnards between 1966 and 1972.

The National Housing Corporation
The new entity, established in 1973, was given the responsibility for managing areas designated as development areas and continuing the activities previously assigned to its predecessors (see chart below).



New Direction of the Corporation
The focus of the National Housing Corporation has changed over the years to meet the increasing demands by Barbadians for housing solutions at affordable prices. There was further diversification of its activities when in 1998 the Housing Act was amended to allow the engagement in non-housing commercial activities. New offices at Country Road and Warrens are two projects which were financed by loans from the local financial sector.
In keeping with the new direction, the Corporation has re-branded the H.E.A.R.T Programme (Housing Everyone An Affordable Realistic Target) to the H.E.L.P Programme (Housing Every Last Person) so that the acronym reflects the more caring stance being taken, and has taken bold and imaginative steps to accelerate the provision of housing solutions for needy Barbadians.

This project consists of:

1) starter homes,
2) 2 and 3 bedroom houses, and
3) infrastructure provided at the respective sites

The National Housing Corporation is committed to finding acceptable Housing solutions for Barbadians at affordable prices. This will be achieved through the maximisation of available land:- producing more efficiently sized lots and constructing additional high rise apartments, quadruplex and duplex units instead of a predominance of single units. The Corporation will continue to investigate new methods of constructing terrace units and houses at lower costs than at present, provided the quality of the product is not compromised in the process.