REAL-ESTATE developer First RGP Land Development Corp. is allocating at least P700 million for an integrated community in South Luzon, specifically catering to the middle- and lower-income classes.
Public-relations consultant and real-estate businessman Resty G. Perez charts the future growth of a 12-hectare development in Cavite, starting with a 5-hectare socialized housing community in the municipality of Naic, Cavite.
“For this socialized housing, we have 5.1 hectares with beneficiaries of 1,180 units of modular housing. Total number of individuals that can benefit is around 6,000 to 7,000,” Perez, chairman of First RGP, told reporters on Friday during the site’s launch.
Named the South Morning View project, the housing development will soon receive the informal settlers formerly situated in four waterways in Las Piñas, namely, inhabitants of settlements along Pasong Cobra Creek, Almirante Creek, Tartar Creek and Las Piñas river.
The inhabitants of these waterways have formed the South Morning View Home Owners Association and secured a loan throgh the High Density Housing Program of Social Housing Finance Corp. (SHFC).
The loan, amounting to P470 million, was then directed toward the site development and construction, tapping First RGP Development Corp. to undertake it.
Perez said with this project, home-owners will only be paying P803 per month, to increase annually by 10 percent, for 30 years as per the associations’ financial arrangement with SHFC.
The socialized-housing component of the community is seen to be just a fraction of the envisioned “integrated hub” Perez has in mind in the area.
Aside from the 5-hectare development, an economic- housing component will also be built adjunct to the socialized housing section that will cost P300 million.
“After this, the mayor of Cavite saw the project and requested an initial 400 units of housing for government employees, like teachers, police personnel and firemen. These will cost some P750,000 per unit and will cater to the C classes,” he said.
Securing permits and processing for the P300-million project is now under way, and will start construction in January in the remaining 7-hectare lot in Naic, Cavite.
Aside from the economic housing, Perez is looking to build a mall, and a wet market to service the residents in the community, also seen to start construction by late in 2017.