About 542 residents in Manila are set to become homeowners through the local government's rent-to-own high-rise condo projects.
On Thursday, Jan. 16, Manila Mayor Honey Lacuna-Pangan gave the keys to more tenants at the San Sebastian Residences, one of two new residential developments in the city that aim to provide affordable housing to low-income Manileños.
San Sebastian Residences is a 20-story building located at Plaza del Carmen Street in Quiapo, Manila. It offers 243 residential units with various amenities designed to enhance the quality of life for its future homeowners. The building features a health center, police substation, an administrative office, and a spacious lobby on the ground floor.
Last Tuesday, Jan. 14, Mayor Lacuna-Pangan welcomed the first 20 tenants of the Pedro Gil Residences, where a total of 299 rent-to-own units will soon be occupied by city residents.
Pedro Gil Residences also features a health center, 143 parking slots, five commercial spaces and amenities such as swimming pool, fitness center, function room, roof deck as well as indoor and outdoor activity areas.
This initiative is part of a broader effort by the Manila city government to offer sustainable, dignified housing for residents who previously had limited access to homeownership opportunities.
Mayor Lacuna emphasized that the San Sebastian Residences and other projects like it represent a significant departure from previous housing initiatives, particularly criticizing former Mayor Isko Moreno’s “Tondominiums” as misleading.
“Our administration found ways to make the rent-to-own model happen. Those solutions are being rolled out now. Those solutions respect the dignity of Manilenos who have less in life,” the lady mayor also said.