Cecilia Orta will consist of 49 newly constructed apartment units for rent to elderly individuals. Situated in the town center, the property is primarily surrounded by residential, commercial, and office properties, including a pedestrian mall, restaurant, pharmacy, training college, and grocery market within a short distance of the site. Project amenities include a controlled-access open air park, a multi-purpose room, an intercom security system, and on-site laundry facilities.
Total development cost of $9,800,000 includes equity from an investor purchasing low income housing tax credits provided by Puerto Rico Housing Finance Authority (“PRHFA”), Municipality of Carolina HOME funds, and a TCAP mortgage from PRHFA. Operating assistance is provided by Puerto Rico Department of Housing.