Valenzuela City Hall. (File photo)
MANILA – Some 1,632 families residing in danger zones in Valenzuela City are set to be relocated as the construction of a 34-building socialized housing project will commence in January 2021, the local government announced on Friday.
The city government has earlier signed a partnership agreement with the Social Housing Finance Corporation (SHFC) to provide safe, decent, and affordable housing for the families residing in the flood and fire-prone community of Laon.
Mayor Rex Gatchalian and SHFC Vice President for Special Projects, lawyer Tristan Tresvalles on Wednesday officially awarded the cheques amounting to PHP123.4 million to the six-hectare Laon landowners Rosalinda Mary Cheng Lim and Hubert Lim, as payment for the land property.
Gatchalian said the construction of the Laon housing project marks another milestone for Valenzuela City as it continues to uplift the dignity of its people through providing sustainable housing programs.
“After 37 years, finally, one of our biggest informal settler communities in the First District will be transformed into a formal community… [In 2021,] Laon, Veinte Reales’ 2,000 families now living in shanties will move into these high-rise units,” Gatchalian said.
Upon payment to the landowners, the city government can now start various demolition activities to pave way for the construction of the housing project.
The construction of the entire housing project is expected to be completed by 2023.
Through the project, residents can choose between a 36-sq.m. house unit or a 42-square house unit.
According to the city government, the monthly amortization for the first year for a 36-sq. m. unit will cost PHP 1,729.86, while the 42-sq.m. unit will cost PHP 1,915.59 only.
The amortization will be credited with a socialized rate up to 2% to 4.5% for the first 10 years.
The rent-to-own house and lot units will be payable in a span of 30 years.
The city government said it will act as the lifetime estate manager of the Laon housing project to ensure proper maintenance and sustainable order in the community. (PNA)
