The Hispanic Housing Development Corporation (HHDC) has begun renovating its Santa Juanita Housing for the Elderly apartment building in Bayamón, Puerto Rico. The eight-story, 100-unit Section 8 property offers one-bedroom units to the elderly and disabled. Santa Juanita is HHDC’s first property in Puerto Rico.
The project's commencement was celebrated on October 31 with a reception and tour of the facility. Among the attendees were project investors, representatives from the Government of Puerto Rico, and members of the community alike. Select residents gave attendees tours inside their units to demonstrate the renovations that will be made.
“The welfare of current and future residents at Santa Juanita is very important to us,” said Tony Hernandez, President and Chief Executive Officer of HHDC. “We want to ensure they, their families, and the community are proud of the building and feel secure about the future.”
The $29.1 million project contains a broad scope of work, including environmental remediation, safety upgrades, kitchen and bath improvements, renewed parking for the disabled, and more. Brand new amenities include a fitness room, landscaping, and a gazebo. Improvements will also be made to the existing community room.
HHDC’s construction partner is MUBA Construction. Work is being performed in a two-move process: residents from the floor being worked on will be moved to another building and then back into their units once the renovations are completed.
The renovations are funded with support from the Puerto Rico Housing Finance Authority, NeighborWorks Capital, Federal Home Loan Bank of New York/Trans-Oceanic Life Insurance Co., FirstBank Puerto Rico, and Richman Capital. Sources include tax-exempt financing, 4% low-income housing tax credits, HOME Investment Partnerships Program and Housing Trust Fund loans, and an Affordable Housing Program grant.
To view local coverage of the project, please visit Noticias de Bayamón and Puerto Rico Posts.
