On September 19, 2011, Business Guardian reporter Dixie-Ann Dickson sent a list of questions to Imtiaz Ali, communications co-ordinator at National Insurance Property Development Company Ltd (Nipdec), which is in charge of the Riverwoods housing project. The National Insurance Board (NIB) is the financier and developer of the project in Cleaver Woods, D'Abadie. State-owned property developer and manager, Nipdec, which previously built Flagstaff in Long Circular, Bon Air Gardens in the East and Edinburgh 500 in central Trinidad, is the management contractor. In 2004, Nipdec said the project would cost $90 million. In its 2007 annual report, NIB stated the project was costing $167 million.
"Twenty-two housing units were completed and finishing touches were being applied to another 30 units at year end. Phase I of this development is expected to be completed and delivered to homeowners in the second quarter of the next financial year," stated the report. NIB chairman at the time was Calder Hart. In the Business Guardian's reporting of Riverwoods-which is six years behind completion and prospective homeowners still awaiting to move into their homes-Nipdec was contacted for a comprehensive response over major outstanding issues with the project.
Following are the questions sent to Nipdec's Imtiaz Ali:
1. It is my understanding that the first set of houses was due for completion in 2006 and should have been delivered in December 2006. However, only a few were delivered in Phase one in 2010/2011. What are the major delays and are they being rectified?
2. Similarly, Phases Three and Four were said to be completed in 2008, but these homeowners are still to receive their homes.
a) Are the units completed and when would they be delivered?
b) What has caused the delay?
c) Is it the lack of funding by NIB or lack of assistance for various state agencies?
3. Will Nipdec be able to meet its new deadlines?
4. Is the present state of the economy impacting on Nipdec's progress on the housing project? If so, please state how so?
5. The residents are also complaining about lack of proper security. One resident said last week that she caught a man peeping into her window. Can security be improved?
6. What was the original cost of the project and what is the cost now?
7. Was the Urban Development Corporation of T&T (Udecott) ever involved in the Riverwoods housing development?
8. Some prospective homeowners have made deposits since 2006, and have not received their homes and may now be unable to qualify for mortgages as they are too old. How does Nipdec plan to address this issue?
9. Existing residents are asking when would additional amenities-jogging track, leisure park, etc-be delivered as the areas earmarked for these projects are over-run by bushes.
10. The residents are also complaining about the lack of proper maintenance. They said they are paying $800 a month for maintenance and no one is maintaining the area. Is this true?
(Editor's note, October 7): Those residents who don't have mortgages deposit the $800 maintenance fees into an account of the Riverwoods Management Company. Those who have mortgages with T&T Mortgage Finance, the sum is deducted from their instalments and paid to the company quarterly.)
11. Some prospective residents are asking for compensation because of the long delay in delivering the units.
Would this be considered?
Subsequent to the Business Guardian publishing two articles on Riverwoods on September 22 and October 6, below was the response Debra Modeste, secretary to NIB's executive director, Lorna Charles, Nipdec, sent to the Business Guardian after 4 pm on October 4.
The letter does not in any way answer or sufficiently address any of the issues raised by the Business Guardian's questions, not the least of which is: what are the reasons for the six-year delay in completing the Riverwoods housing development.
October 4, 2011
Dixie Ann Dickson
Business Reporter
Trinidad Guardian Newspapers
St Vincent Street
Port-of-Spain
Dear Ms Dickson,
On behalf of the board and management of the National Insurance Board of T&T (NIB), I wish to thank you for your interest and reporting on the Riverwoods Housing Development. This project represents an investment by the NIB into a housing development in the Arima area, designed to increase and maintain the supply of quality, affordable housing to meet the needs of middle-income persons. The NIBTT, therefore, entered into a contractual agreement with Nipdec, a project management company and wholly-owned subsidiary of the NIBTT, in 2005 to develop the Riverwoods housing community. All subsequent and ensuing contracts were executed by Nipdec and, in this regard, we have forwarded your related queries dated September, 29, 2011, to their offices for response.
The NIB's undertaking in respect of the Riverwoods project is to provide the residents and purchasers with affordable housing and safe living environment. Despite the many challenges, this mission has not changed and, as the owners of this project, we sincerely regret the discomfort felt by our customers as a result of the many setbacks of the project; notwithstanding, the NIB remains committed to delivering on the agreements with our purchasers and homeowners. We are cognisant of the fact that some of the environmental, economical, and statutory conditions have changed, and the NIB has had to review and modify strategies for completion of the development in keeping with the interests and expectations of the residents. In this regard, the board and management of the NIB do take the concerns of the residents seriously and assure both you and the residents of Riverwoods that we have placed greater emphasis on the timely completion of this project.
In furtherance of this expressed commitment, the board of directors of the NIB has appointed a Riverwoods Management Committee to work closely with our contractor and the established Riverwoods Management Company towards the resolution of the various issues facing the project to ensure that all concerns are addressed and the residual works are completed in a timely manner. Once again, we thank you for your keen attention in this matter and we welcome your continued input as we move forward in the interest of our customers."
Debra Modeste,
Secretary to NIB's executive director, Lorna Charles
Nipdec chairman: Board 'inherited a colossal mess'
The board of board National Insurance Property Development Company Ltd (Nipdec) "inherited a colossal mess" regarding the Riverwoods housing project, said Nipdec chairman Ronald Ramcharan. Ramcharan was appointed on March 14, together with other directors, Hamlyn Jailal, deputy chairman, Melissa Bart-Smith, Krishmanie Misir, Navindra Ramnanan, Ravi Ramoutar and Dwight Stoute. Ramcharan said Riverwoods was among other projects the Nipdec board was dealing with which posed many challenges.
Ramcharan said Nipdec is working in collaboration with National Insurance Board of T&T (NIB)-which is financing the project-and is putting things in place for prospective homeowners. "Things are being done, we are working on it." "I can empathise with them and I understand what they are going through." Asked if these prospective owners would be compensated for the long delay and that their units can no longer be considered new due to the need for repair and maintenance works, the chairman said, "We are trying to give them the value they deserve. We are doing our best in that regard and we assure you that there are plans in place for the residents."