THE launching of Phase II of the Balubal socialized housing project is a ‘breakthrough’ in Cagayan de Oro City Hall’s resettlement program and can serve as a model for socialized housing in the country, Mayor Oscar Moreno said.
“The important thing (about the Balubal social housing project) is the city government is able to demonstrate that we can implement these projects and that it won’t be difficult for developers and realty companies to engage with Cagayan de Oro City Hall because they know that their money won´t be wasted but will go to where it is intended,” Moreno said Wednesday.
Moreno said during Wednesday noon’s press briefing that the Camella Homes group of the Villar Group of Companies spent about P70 million in developing the 4.6-hectare Phase II of the Balubal social housing project. Phase II of the Balubal social housing project consists of 40 two-story condominium type buildings each having 24 units.
Developers are mandated under the law to set aside part of their income for socialized housing, Mayor Moreno said. The majority, if not all of the 960 families that will occupy these units are survivors of typhoon Sendong (international name Washi). Land development of Phase II of the Balubal socialized housing project is targeted for completion sometime in March.
“The first 40 units will be turned over about eight to 10 months from now, with succeeding units to be turned over every five to six months,” Moreno said.
The said housing project is a joint effort of the City Housing Urban Development Department of City Hall, the Socialized Housing Finance Corp., and Camella Homes of the Villar Group of Companies. (Stephen Capillas of City Information Office)
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