CDC Homes Development & Ventures Inc. and the city government of Mandaluyong are jointly developing a socialized housing project in Barangay San Ignacio, Plainview.
MCA Homes is CDC’s first foray into socialized housing and would be open to more similar projects with the other local municipalities in the future.
CDC Homes is an affiliate of CDC Holdings.
MCA Homes is set to rise on a 348-square meter land in Plainview.
The first six floors o will be dedicated to socialized housing and will be offered to priority buyers of San Ignacio and to the families to be affected by the Pantaleon-Estrella Bridge renovation and to the minimum-wage Pag-IBIG members of the barangay.
While this is a compliance requirement in support of the launch of CDC Homes’ River Park Place, MCA Homes will set the bar high for socialized housing, CDC said.
It added MCA Homes will boast of features and amenities found in a typical condo project never been done before in socialized housing. A key card will be needed to gain entrance to the property.
There will also be a roof deck, play area, and a garden.
Just like a typical condominium, there will be individual water and electric meters for each unit, a standby generator, and a fire protection system.
Units are sold at subsidized interest rates for socialized housing units through Pag-IBIG’s Affordable Housing Program, extending a 3- percent interest rate for the initial five years of the payment term of minimum wage Pag-IBIG Fund members whose income do not exceed P15,000 per month if working in the National Capital Region (NCR) and P12,000 per month if they are working outside NCR.
For units priced beyond the socialized housing package, a 6.375 percent per annum will be charged through Pag-IBIG’s Regular End-User Financing.
MCA Homes is scheduled to be completed in 16 months.