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CDA to explore affordable homes

THE Commonwealth Development Authority is exploring the possibility of investing in affordable and well-built secure homes through a rent-to-own program.

CDA loan manager Marie Coleman said because they have limited funding and resources they can only do a project “on a very small scale” on Saipan, Tinian and Rota.

CDA said it is having a hard time providing families and residents with decent homes through the Section 8 program as the island is experiencing a housing shortage.

During a recent CDA board meeting, Coleman said they should look into Guam Housing Corp.’s modular housing units and see if these are viable for the Commonwealth.

GHC said these modular housing units will cost less than $100,000 and will be insurable.

 “These housing systems are made from a combination of concrete and metal materials. The buildings are expected to meet the standards set by the Guam Building Code in terms of being able to withstand typhoons and earthquakes,” GHC president Chris Duenas was quoted by The Guam Daily Post as saying.

 “In the past, modular homes have been excluded from home insurance coverage. [But] these alternative homes that are being proposed are insurable. The modular homes are also available for private developers.”

Source: Marianas Variety : http://www.mvariety.com/cnmi/cnmi-news/local/109684-cda-to-explore-affordable-homes

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