Inaugurate luxury residential complex for participants of the Section 8 Program 2018-12-21 03:28:44

The condo is located in Hato Rey


The Department of Housing (DV) and the Housing Financing Authority (AFV) inaugurated on Thursday, the residential complex The Golden Residences at The Village in Hato Rey, which seeks to meet the needs of senior citizens in Puerto Rico, informed the secretary of the DV, Fernando Gil Enseñat.

Section 8 luxury


"This residential project, designed for the elderly population on the Island, under the subsidy of Section 8 program, fully complies with the programmatic commitment of Governor Ricardo Rosselló Nevares and the responsibility to improve the quality of life of all Puerto Ricans, especially those from the vulnerable sectors that do not have the resources to acquire a decent, safe and temperate housing to the real needs of the elderly, "Gil Enseñat told a press conference.

Section 8 luxury

He explained that the new project of 140 rental apartments for people 62 years of age or older, operates thanks to the rent subsidy assistance through the Section 8 Program of the Department of Housing and the Federal Department of Housing and Urban Development (HUD). , by its acronym in English), whose investment reaches 800 thousand dollars per year in all units.


The condominium was developed by the company TGR Investments at a cost of 20.3 million dollars.

Also, the owner of Housing added that "the modern apartments, adding to a number of facilities inside the condominium, provide this community with excellent services based on the welfare of residents, mission is consistent with the work of the Department of Housing "He said.

Section 8 luxury

The new condominium, occupied in its entirety since August 30, 2018, is located in the heart of Hato Rey and has 16 levels in which are distributed one-bedroom apartments, bathroom, living room, dining room and kitchen.

In addition, the complex has several common areas that include main lobby, activity room, sky lounge, laundry, reading rooms, board and television games, gym, medical examination room and covered terrace. At the same time, it has a water cistern generator, systems and a security guard and 140 covered parking spaces with access control for its residents.

 Section 8 luxury

For his part, the executive director of the AFV, Luis Burdiel Agudo, explained that "the 16 million dollars of investment come from Section 42 of the Internal Revenue Code under the Federal Program for Tax Credits for Low-Cost Housing (LIHTC, by its initials in English) administered by the AFV ".

"The LIHTC program, administered by the AFV since 1988, provides financial incentives to develop and rehabilitate rental housing for low and moderate income families. With this we continue to promote the development of social interest housing and provide financing facilities, so that people can acquire or rent a decent home, "added Burdiel Agudo.
Section 8 luxury
For its part, the project developer, Roberto Alfonso, acknowledged the construction of the project and how resistant it was to the passage of hurricanes Irma and María on the island.

"This concept of housing becomes more important after the passage of hurricanes, in which so many families, particularly the growing elderly population, have been deprived of a decent and safe home. There is a historic opportunity to raise and rebuild Puerto Rico, "said Alfonso.

Section 8 luxury
Finally, the Housing Minister stressed that "it is time to build resilient projects that welcome our communities, the most needy and disadvantaged sectors of Puerto Rico and promote progress and social welfare."

To verify availability and qualification details in the housing units, you should contact the administration of Golden Residences At The Village directly at 787 985 1777.