Proud Homeowners After Renting the Same Home for 40 YearsTenants in Caguas become owners of their homes
Pedro Ismael Ruiz and Margarita Burgos are two brand new homeowners who, for decades, were tenants of their public housing units in Caguas, Puerto Rico. Their families are part of a group of 15 that, after renting their same apartments for 40 years, were able to use a program that allows tenants to become homeowners. The Quality Housing and Working Responsibility Act allows housing authorities to make public housing dwelling units available for purchase by low-income families as their principal residence.
The Puerto Rico Public Housing Administration built Extensión Caguax, a development of 10 buildings with 20 three-bedroom units, in the early 1970's. Five of the 20 families are in the process of obtaining their financing, which is provided by the Puerto Rico Housing Finance Authority.
Caguas Mayor William Miranda Torres attended the ceremony to welcome the families to their own homes, this time as proprietors and congratulate the new homeowners.
|Content Archived: August 24, 2016|