Nonprofit organization Habitat for Humanity announced the opening of its call to receive applications from low and medium income families and individuals interested in buying a property in its new multifamily housing project — a four story building with 12 units located on Avenida Ponce de León 1257 in Santurce.
The project, which includes the rehabilitation of the building and the sale of its units to families in need who want to purchase their own home, is part of the organization’s Housing Acquisition Program created to help families affected by hurricanes Irma and María.
The program is primarily funded by a $50 million donation from Abbvie in 2018, the nonprofit said.
Located in the heart of Santurce, close to restaurants, drug stores, banks and movie theatres, and with easy access to main avenues, recreational areas and beaches, the building’s apartments feature approximately 725 sq. ft. of space, two bedrooms, 1 bath, kitchen, dining room and living room, parking, and common areas including lobby and laundry room.
“This is an excellent opportunity for families and people in need to acquire a safe and affordable home in an urban area of tremendous growth where property costs continue to rise,” said Amanda Silva, executive director of Habitat for Humanity’s local affiliate.
“During these hard and unstable times, it gives us great satisfaction to be able to offer this opportunity while continuing to fulfill our mission of helping people and families achieve stability and self-reliance, and a better future and quality of life.”
To qualify to purchase one of the properties, interested families and individuals must fulfill various requirements including: Demonstrate that they are in need of housing (not be a homeowner); contribute 200 hours of work including 180 hours in the rehabilitation of their future home and 20 hours in homeownership workshops; and have the capacity to pay an affordable mortgage with 0% interest and an estimated monthly payment of $276. The mortgage monthly payments cycle back to a revolving fund to help more families.
To apply for homeownership in the new Santurce project, which is expected to be completed by the end of this year, interested parties must submit their applications before July 9th, 2020.
Habitat for Humanity will offer virtual orientations to provide more information about the project, including how to apply, from June 11 through July 9.