Speaking at the event, the Prime Minister said he would like to see other private companies embark on similar projects to increase the available housing stock.
He explained that he would chair a committee of agencies responsible for granting construction approvals to ensure that projects are not stalled.
This task force will also ensure that State agencies do not become "an impediment to private developers who are interested in constructing houses".
Minister of Housing Randall Mitchell also spoke at the event.
He said 174,000 persons in lower-middle income bracket are in need of housing.
He said we have approximately 20,000 applicants interested in living in the East-West Corridor who qualify to make purchases ranging from $750,000 - $1.5M.