Introduction and Relevance of the Program
The government of Mexico City has initiated the “Public Housing Rental” program to enhance housing accessibility in areas where rental options have become unaffordable for low-income families. This initiative includes an investment of 600 million pesos to construct 1,000 housing units in the first phase, with a target of 20,000 by the end of the current administration.
Addressing Urgent Needs
Inti Muñoz Santini, the Secretary of Housing for Mexico City, highlighted that this program addresses an urgent need in the capital: providing affordable housing solutions. According to Muñoz Santini, approximately 53,000 families seek rental housing annually, while rental values have significantly increased, forcing many to allocate over 30% of their monthly income or live far from their workplaces.
The Mexico City government’s diagnosis indicates that the average income of many families barely exceeds 10,000 pesos monthly, which is insufficient compared to the escalating rental housing market over the past 15 years.
Program Launch
The announced scheme began with a building near Plaza Tlaxcoaque, previously occupied by Yale Corporation. The property’s owners supported its acquisition to transform 120 public housing units into rental properties.
It is estimated that 1,000 new housing units will be ready for occupancy under this program by next year, along with 300 rebuilt apartments following the 2017 earthquakes, now available for rental after the approval of the Reconstruction Law.
Accessing the Program
Muñoz Santini mentioned that the program’s rules, public calls, and transparency mechanisms are currently being developed to ensure equitable access. Additionally, a pilot scheme has been announced in the Buenos Aires colony, where a building will be allocated to a housing cooperative under the public rental scheme.
Key Questions and Answers
- What is the main objective of the program? The primary goal is to provide affordable housing options in areas where rental prices have become unattainable for low-income families, thereby combating gentrification and displacement.
- How many housing units will be built in the first phase? The initial phase aims to construct 1,000 housing units.
- What is the long-term target for housing unit construction? The government plans to build 20,000 housing units by the end of the current administration.
- How many families are in need of affordable housing solutions? Approximately 53,000 families seek rental housing annually.
- What is the average monthly income of many families in Mexico City? The average income barely exceeds 10,000 pesos monthly.
- How much of a family’s income is often spent on rent? Rental costs frequently consume more than 30% of a family’s monthly income.
- What additional measures are being taken to ensure equitable access to the program? The government is developing rules, public calls, and transparency mechanisms for fair access.
