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Number of Saipan houses- for-rent expected to go up
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Posted on Mar 11 2019
The number of houses-for-rent on Saipan is expected to increase in the following year with an additional 119 units.
Jesse Palacios, administrator of the Northern Marianas Housing Corp., said it is projected that CNMI would see an increase in the number of available homes for rent in the immediate future.
With two nearly completed projects and one that has already broken ground, the CNMI can expect about 119 additional homes for rent.
The two nearly completed projects are the Isa Villas and the Zen Homes; the Art Ridge project has already broken ground.
“Rental housing stock is increasing again with the projects we currently have,” he said.
In the following five months, the community will have over 70 rental units available to them with the opening of the Isa Villas on Capital Hill and the Zen Homes opening in Gualo Rai.
Palacios said the Isa Villas is expected to open on May or June while the Zen Homes is expected to open a little later in September. Both projects are being developed with NMHC.
Isa Villas will offer 27 two-, three-, and four-bedroom units and Zen homes will offer 44 two-, three-, and four-bedroom units.
All units are open to the public with rental restrictions. Palacios said interested renters must meet a certain income threshhold to be eligible to rent a unit.
Units will cost around $600 to $800 to rent per month and will be open to Section 8 voucher holders.
Palacios said the Art Ridge housing project behind the Triple J Motors on Beach Road has already broken ground and an additional 48 two-bedroom units will be made available to the community by year 2020.
Palacios said all the units are for long-term renters. “They are not transitional. They are not meant for students or tourists. They are meant for families and community members,” he said.
