The National Institute of Housing and Urban Development has announced the creation of a trust to finance housing for middle-income families.

According to an article in Nacion.com, the new CEO of the National Institute of Housing and Urban Development (INVU in Spanish), Alvaro Gonzalez, said three lots are available in the province of San José, where the plan is to build high rise condominiums, and another in the province of Guanacaste where blocks of houses will be built.

The projects are to be funded through trusts, for which there are pre existing agreements with the Banco Nacional for a total of about one thousand middle-class housing solutions.

INVU president said the institution “has a large number of important areas, not only in the GAM, but also in the rest of the country.”

An INVU press spokesmen indicated that the responsibility of creating a tender to hire developers and construction companies belongs to the trust managers.

Source: Nacion.com