El Remanso Elderly
El Remanso Elderly is a new construction 51 unit affordable housing community located in Carolina, Puerto Rico. The building has one multi-story elevator equipped building and off-street parking. Its first floor contains a community room, a multi-purpose room, a central laundry facility, and an on-site management office. Various senior targeted amenities are provided at no cost to the tenants. In-unit amenities will include stove, refrigerator, intercom system, and alarm.
Total development cost of $8,980,000 includes equity from an investor purchasing low income housing tax credits provided by Puerto Rico Housing Finance Authority and HOME funds from both Puerto Rico Department of Housing (“PRDH”) and the Municipality of Carolina. Operating assistance is provided by PRDH.