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Gov’t buys elderly residential complex in Ponce for $6.1M

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The Puerto Rico Public Housing Administration announced the acquisition of the Égida Estancias Doradas en Ponce, a residential project for the elderly, for $6.1 million.

The project was owned by Ponce Elderly Limited Partnership and operated under a rental subsidy from the Department of Housing in accordance with Act 173 of Aug. 31, 1996, local government officials said.

Agency Administrator Alejandro Salgado-Colón said the transaction is part of the agency’s initiative to increase the availability “of safe, clean and adequate housing for this sector.”

“Our main purpose as an agency is to provide suitable homes for low-income individuals or families throughout the island,” said Salgado-Colón. “Our island’s elderly population requires an accessible number of housing projects that promote community activity and the full enjoyment of daily life.”

The residential project is a six-story building comprising 94 units consisting of one bedroom, living and dining area, kitchen and one bathroom. Each apartment is about 480 square feet, while the building has two elevators and two staircases, for interior and exterior access to the building.

As part of the amenities, Estancias Doradas has an administration area with executive offices and an activity room, laundry, a medical office, games room and a multipurpose room with bathrooms.

The housing complex also has a water cistern, storage rooms and an electric generator for the common areas. In addition, it has parking for 48 vehicles.

Puerto Rico Housing Department Secretary William Rodríguez, said “it’s gratifying to see that this process that we began a few months ago when I was directing Public Housing, is being completed for the benefit of a needy population on our island.”

The transaction is carried out under the State Matching Program for Veteran Housing Leasing and the Lease and Housing Improvement Subsidy for Low Income Seniors, created by Act 173-1996 and in response to a shortage of elderly housing.

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This story was written by our staff based on a press release.
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