Arecibo uses HOME funds for two sites, six apartments on PR-129
The Municipality of Arecibo has bought two properties with federal HOME Program funds to develop affordable housing for low- and very-low-income individuals and families, The San Juan Daily Star reported. The mayor announced the purchases on Wednesday, October 28, 2026, and the outlet said it was the first time in 10 years that the municipality had acquired properties under the program.
Land on PR-129 and a building downtown
One of the two is a plot of land on PR-129, where the municipality plans to build six apartments for individuals and families who meet the federal program's eligibility requirements, the mayor said.
The other is a building on De Diego Avenue in Arecibo's urban center. The municipality plans to repurpose the existing structure into affordable housing units, which the mayor described as part of an effort to reclaim spaces and strengthen residential activity in the city center.
The HOME Investment Partnerships Program is administered by the U.S. Department of Housing and Urban Development and funds the acquisition, construction and rehabilitation of housing for people with limited income, the outlet noted. It did not report a price for either property or a date for the work.
Rents and asking prices in Arecibo
The downtown blocks of De Diego Avenue lie in Barrio Pueblo. On November 5, 2026, 22 houses and apartments there were advertised for rent at a median asking rent of $712.50 a month, and 20 were for sale at a median asking price of $209,950.
Across the municipality of Arecibo, 130 homes were advertised for rent at a median of $800 a month on the same day, and 272 were for sale at a median asking price of $235,000.
The municipality's recorded purchases this year
Registry deeds show two purchases by the municipality earlier in 2026. It bought Condominio Oliver, Apartment 302, in Barrio Pueblo for $22,000 on February 5, 2026, and Lot 2 on Carretera 653 in Hato Abajo for $142,000 on September 2, 2026. The apartment's building stands at 66 De Diego Avenue, and the lot is not on PR-129. The outlet did not identify either site, so the deeds do not show whether one of them is among the two the mayor announced.