“We are working to bring the Guamanian Dream of homeownership closer to you. We are strengthening families by helping them to find homes.” — Governor Eddie Baza Calvo.
Tower 70 now under construction in Tamuning
The Governor broke ground on another 70 affordable housing units. Tower 70 is a low-rise development now under construction in Tamuning. When completed the development will have 70 rental apartments. This public-private development is made possible through the low income housing tax credit (LIHTC) program.
Tower 70 will encompass four newly-constructed buildings, featuring the following:
- Four ADA-accessible 3bd/2ba units;
- 38 ADA-accessible 3bd/2ba units;
- 24 2bd/2ba units; and
- Four 1bd/1ba units.
Size of apartments, amenities included
The units range in size between 660 — 1,368 square feet of living space. The units will be equipped with dishwasher, refrigerator, stove, and washer/dryer. It is being built behind the old MGM building along Marine Corps Drive.
Sports facilities, mail, lobby, child care, other facilities
Community amenities will include a half basketball court, gymnasium, covered pavilion, mail boxes for postal service delivery, management office, main elevator lobby, child care play area, barbeque area, open recreational areas, and male and female restrooms. Tenants will have guest parking for visitors as well as reserved slots for personal use. The area will be landscaped with tropical plants.
How to qualify
Guam Housing and Urban Renewal Authority is the housing agency authorized to administer and allocate the LIHTC in Guam, under Section 42 of the Internal Revenue Code. Tax credit awarded for this project totaled $2,876,622.00. Development cost is estimated at $28.1 million. Tower 70 will be available to Guamanian residents with income at or below 60 percent of the Area Median Gross Income (AMGI). Projected completion date is December 2014.
Low-income individuals and families will have an opportunity to rent affordable housing in the highly desirable and central area of Tamuning. With the ever-increasing need for affordable housing, GHURA continues its mission to “Strengthen Families and Build Communities One Project at a Time”.