CONSTRUCTION of the second phase of the Balubal socialized housing project kicked off in Cagayan de Oro City Wednesday (February 3, 2021) with a groundbreaking ceremony.
The project is a joint initiative between the Department of Housing Settlements and Urban Development, the city government of Cagayan de Oro, private developers and the Social Housing Finance Corporation which will finance the project.
The Balulang socialized housing project – which is under DHSUD’s Building Adequate, Livable, Affordable and Inclusive Filipino Communities (BALAI) – will be populated with 40 two-storey buildings with 24 units in each structure.
The said project is located six kilometers from the national highway traversing the Agusan barangay access road to barangay Balubal.
Covering an area of 46,000 square meters, the estate will soon be available for residency by 960 former informal settler families.
A total of approximately P420 million will be needed for the building construction that will come from the Social Housing Finance Corporation’s community mortgage program.
DHSUD and the city government of Cagayan de Oro through Mayor Oscar Moreno conceptualized the project to address the pragmatic dilemma in housing due to influx of informal settler families living in, near or along danger areas such as riverbanks, esteros, roadways, sidewalks, aqueducts, bridges, garbage dumps, shorelines and waterways here.