$15M ‘Gran Savannah’ social housing project breaks ground in Caguas
Caguas Mayor William Miranda Torres announced the start of construction of 144 social housing units that comprise the $15 million Gran Savannah project, located in that city’s Macanea sector of the Tomás de Castro 1 neighborhood.
“With the groundbreaking of the Gran Savannah project, we begin construction of 144 social housing units for the benefit of low-income families in our city, whose profile reflects a need by single mothers,” Miranda-Torres said.
“In addition, this development will help revive economic activity in times of uncertainty on the island, since its construction is generating 75 direct and 35 indirect jobs,” said Miranda-Torres during the activity that took place on the grounds where the residences will be built.
He added that the project is part of the municipal government’s “programmatic and moral commitment to provide a place of dignified, safe and affordable housing for our people.”
“Therefore, we have acted as a facilitator to make viable a project with private financing, of great social benefit in the times we’re living in, with the transfer of two parcels of land totaling about 25 acres with an appraised value of $1.7 million,” the mayor said.
In addition, the Department of Municipal Housing will grant an incentive to 37 buyers who will be previously qualified, according to their need, Miranda-Torres said.
Gran Savannah will be developed by P&J Affordable Housing Development Corp. and JF Algarín, with funding from the Cooperativa Oriental credit union.