AFFORDABLE
HOUSING
BASIS has begun affordable green housing addressing the critical housing needs in and around Panama’s urban core. Our mission is to introduce and revolutionize the affordable housing market with well-designed, green infrastructures and living spaces.
By applying Transit Oriented Development ("TOD") and New Urbanism principles to design communities, our plans maximize green spaces, create social areas and promote light commercial activities. Our projects utilize the latest green technologies to create self-sustainable, affordable, and healthy neighborhoods.
PANAMA´S
HOUSING GAP
As Panama’s construction, banking and canal expansion markets boom, the rapidly growing workforce population will need affordable housing. BASIS International embraces a social and profit-driven mandate to help fill this need with innovative planning and creativity with a dual purpose.
Our vision is to create and build green housing developments centering on profit maximization, while more importantly contributing to local communities by helping stabilize employment, promote education, provide a cleaner space for residents, and support business development.
CASCO ANTIGUO
OVERVIEW
Panama’s old quarter, Casco Antiguo, is a UNESCO World Heritage Site, selected to protect the historical architecture, local cultural flavor and diversity. Casco Viejo is centrally located in Panama City and consists of three small neighborhoods, or “barros”; San Felipe, Santa Ana and Chorillo. Built by the French and Spanish around the turn of the century, the old colonial brick buildings had been neglected until just recently.
Over the past 5-8 years, developers have entered the nicer area of San Felipe and land prices have skyrocketed. Colonial buildings in San Felipe are being gutted and refurbished in place of high-end condos, bars, and restaurants. $1,000,000 condos are now selling next to adjoined rundown buildings filled with squatters and low-income residents.
BASIS, along with a selected few socially conscious developers, are working to protect the cultural fabric of the Casco Viejo community. San Felipe is destined to be a high-end market. However, Santa Ana and Chorillo are just now starting to be looked at for expansion for low- and mid-priced residences. BASIS has identified these two neighborhoods as viable options to develop attractive, well built, affordable housing offered to target the subsidized housing market. Over the next few years, we anticipate this window of opportunity to close as land prices and sales prices continue to rise.