Avenida Central - Casco Antiguo
La Explanada was our first effort to develop affordable housing for local residents in Casco Antiguo. The final product consists of six units of approximately 55 square meters that sold for an average price of US$33,000, proving the feasibility of constructing affordable housing in Casco Antiguo.
Most of the units were two bedrooms, some with partial ocean views. At this price, with the subsidized mortgages provided by the Panamanian government, principal and interest payments were approximately $150 per month, meaning that families with a combined monthly income of $700 were able to qualify.