The local government is set to finalize a joint venture agreement (JVA) for the development of the Iloilo City USWAG Condominium Complex Project under the Pambansang Pabahay Para sa Pilipino (4PH) Program.
Iloilo City Local Housing Office head, lawyer Peter Jason Millare, said Friday they will sign the agreement with the Eon Realty and Development Corporation (EON) either in March or April after its approval by the Sangguniang Panlungsod.
The city awarded the project to EON on March 10 after no challengers submitted competing bids.
The development, located on a nearly two-hectare lot in Barangay San Isidro, Jaro, will provide homes for 1,677 Ilonggos, particularly middle- and low-income earners.
“This will address our very huge number in-between. They are the middle, low-income group, or small-income group,” Millare said in an interview on Friday.
The project consists of 13 ten-story condominium towers, each with 129 units. The unit size ranges from 24 to 27 square meters, priced at PHP1.53 million and PHP1.71 million, respectively.
Amenities include a basketball court, swimming pool, clubhouse, multi-purpose hall, perimeter fence, material recovery facility, and a playground.
The first two buildings are expected to be completed within 10 to 11 months.
Nearly 2,000 applicants have expressed interest in the project, which will undergo a screening process.
Eligibility criteria include being a first-time homebuyer and a resident or voter willing to transfer residency to the city. Buyers must also hold a Pag-IBIG Loyalty Card, as financing will be through a Pag-IBIG housing loan. (PNA)
