20002000 Travel News ArchiveNewsTravel

Pact Arim first project approved for Colonial City

A French non-governmental organization, Pact Arim has announced plans to build around 300 apartments, shelling colonial edifices, but keeping their façades, according to a report in El Siglo. The present occupants of the rundown buildings will be given first option on the purchase of the dwellings that will sell from RD$350,000 to RD$1 million. Pact Arim will assist them in obtaining jobs or setting up businesses to increase their incomes to a minimum of RD$6,000 a month to quality for the smaller dwellings. Mortgage banks and loans and savings entities will be participating in the financing of the dwellings. The program is overseen by the Oficina de Patrimonio Cultural. OPC has already approved the first project that will be a commercial office building at 464 Padre Billini. (13 December 2000)