The Buenos Aires City Government will build housing for middle-class families and police using funds previously allocated for the urbanization of slums, with the goal of providing concrete solutions and supporting those who dream of owning their first home.
According to an report seen by the Argentine News Agency, the infrastructure and mortgage financing scheme will be implemented through the Housing Institute (IVC) and Banco Ciudad, and plans the construction of 190 homes on Avenida Varela 2951 (Villa Soldati), 136 on Cochabamba 1150 (Constitución), and 53 on Avenida La Plata 2253 (Parque Chacabuco) over three years.
The latter is a property belonging to the IVC, which was occupied for over 20 years and was recovered in November as part of the government's decision under Jorge Macri to reclaim taken properties.
In all cases, the monthly payment amount will not exceed 25% of the applicant's or their family's net income.
The City currently has 30,587 police officers, of which only 5,350 reside within the city limits, while the remaining 25,237 live in the Province of Buenos Aires.
Also in line with these policies of greater access to housing, the Jorge Macri administration announced subsidized mortgage loans for the first home for the middle class.
Meanwhile, it was indicated that this year the City has budgeted $13.171 million for housing assistance for the middle class.
"With the money that was previously used to give away homes in the slums, we are going to build new ones for middle-class families and for police. There were hundreds of occupied properties and no one did anything. The era of anything goes is over," stated the Head of Government, Jorge Macri, on the Avenida La Plata property accompanied by the head of the City Police, Diego Casaló.
He added: "The disaster this site was says a lot about the abandonment the City was subjected to. And now construction is coming."
The building, along with the Community Health and Action Center (CeSAC 42), will feature 8 studios, 29 one-bedroom apartments, and 16 two-bedroom apartments, spread across 9 floors, and will include commercial spaces on the ground floor, a multi-purpose room, an internal park, and parking.
The housing will be for families and police.
How police can access the housing
Police officers will have access to a line of loans in UVAs (indexed units) from Banco Ciudad, with a fixed interest rate subsidized by the City Government at 7% (annual nominal rate) and access to a higher percentage of financing based on seniority and merit. While the current market rate is mostly above 9.5%, in the City it is 7.5% + UVAs: the City Government subsidizes 2 points so that thousands of families can take the step.
These loans focus on sectors that need more accessible and long-term financing, with installments similar to or lower than rent.
From now on, the IVC funds that were destined for the slums will be exclusively directed to financing credits for the first home. But we came and recovered the place, like so many others. It will be a home for the people who work, for those who fulfill their duties and strive every day to get ahead.
