The Bases Conversion and Development Authority and the Home Development Mutual Fund (Pag-IBIG Fund) have forged a partnership to build about 2,000 housing units in Clark Green City in Pampanga.
“We are very optimistic at the partnership that we have forged with Pag-IBIG Fund will allow the BCDA to develop a suitable and affordable mixed income housing project for the future employees working in Clark Green City,” BCDA President and CEO Arnel Paciano Casanova said.
According to Casanova, the housing units will be available for tenancy “unlike in Bonifacio Global City (BGC) where residential homes are mostly high-end condominiums that the minimum wage earner cannot afford, CGC will provide affordable and decent housing units plus amenities for rent. This will allow the minimum wage earner and his family to enjoy a live, learn, work and play existence in Clark Green City,” Casanova said.
“We are so honored that we could be part of this impressive and magnificent project as partners. I look forward to see this in the couple of years,” Pag-IBIG Fund President and CEO Darlene Marie Berberabe said in Thursday’s signing ceremony.
The memorandum of understanding (MOU) calls for the Pag-IBIG Fund to extend an “institutional developmental loan” to BCDA to fund the construction of the proposed mixed income housing project at the Clark Green City, a 9,450-hectare development that is envisioned to become the country’s first smart and sustainable city.
The mixed-income housing units would be for the projected 800,000 employees when the Green City would be fully developed in the next 50 years.
Pag-IBIG Fund will help the BCDA market the housing units.
The BCDA on the other hand shall allocate a parcel of land for the development of the project. It shall identify and determine the criteria for the qualifications of renters and shall also be responsible for the design of the mixed-housing project.
For this purpose, the BCDA is currently undertaking an international Mixed-Income Housing Design Competition dubbed BALE or Building Accessible & Liveable Ecologies.
The grand prize winner will receive $40,000 and the winning design will be considered for implementation.
Short-listed entries will each receive $3,000 for further refinements for the final stage of the competition.