$100M socio-educational initiative Proyecto Oasis breaks ground in San Juan
The community-based investment will benefit families in Villa Prades.
Proyecto Oasis, an initiative led by the nonprofit organization Platform for Social Impact (PSI), broke ground Monday to develop a multifaceted project to provide integrated services that promote economic mobility and social well-being for children and families in the Villa Prades community in San Juan.
The project includes the construction of a multifunctional center, known as the Oasis Hub, and represents a $100 million community-based investment.
The funds will support community initiatives and the development of infrastructure for the Oasis Hub, which will offer access to education, job training, health services and family support.
Located on the former site of the Dr. Cesáreo Rosa Nieves school, the Oasis Hub will impact communities within a 2-square-mile area, home to nearly 35,000 people.
The groundbreaking comes eight months after the U.S. Department of Commerce’s Economic Development Administration announced that the Oasis Expansion Recompete Plan, led by PSI, would receive approximately $30 million to invest in comprehensive economic development initiatives in the Villa Prades public housing community, as previously reported by News is my Business.
“The Distressed Recompete Pilot Program is about making sure that everyone has a fair shot,” said U.S. Deputy Secretary of Commerce Don Graves. “The Oasis Expansion Recompete Plan will create good-paying jobs, invest in workforce development and training, and connect more people to life-changing opportunities. This investment will result in an unprecedented level of economic growth and opportunities right here in Puerto Rico.”
PSI CEO Eduardo Carrera explained that the mission of the Oasis project is to create sustainable pathways for families to overcome poverty.
“With an investment of $43 million for the Oasis Hub, another $30 million through the Economic Development Agency (EDA) Recompete Program, and an additional commitment from the local government, the total investment in this project exceeds $100 million,” Carrera said.
“This public and private investment model has been designed to be replicable, allowing other communities in Puerto Rico and beyond to benefit from a comprehensive and sustainable approach. By combining education, health and business development, the Oasis project establishes a clear path toward economic and social equity,” he added.
Carrera emphasized the key role of the Puerto Rico Department of Housing in developing the Oasis Hub. Through Community Development Block Grant-Investment Portfolio for Growth (CDBG-IPG) funds, the department is providing a $15.2 million loan, making it the only IPG project focused on social infrastructure.
“This investment has not only allowed the construction of the center but has also consolidated the commitment of the government of Puerto Rico to improving the quality of life of underserved communities,” Carrera said.
The Oasis Hub will serve as the headquarters for programs such as Vimenti, which will offer quality education and job training to more than 550 students and their families; the Vidalus Health Clinic, which will provide medical services to more than 4,000 patients; and Project Makers, a business incubator that will support 100 entrepreneurs annually.
The Boys & Girls Club of Puerto Rico will also be part of the initiative, serving more than 550 children and youth with social-emotional development services.
“We are committed to Oasis not only with funds but we are also collaborating with all the impact components of this project through the Department of Housing, the Department of Education, the Family Department, the Department of Economic Development and Commerce, and other government entities that are and will be supporting the work that is being done here and that is now expanding with this comprehensive model,” said Gov. Pedro Pierluisi during the groundbreaking.
“This is an example of how the private and nonprofit sectors, together with the government, can work together to transform lives,” Pierluisi said.
San Juan Mayor Miguel Romero said, “I grew up here, in Villa Prades. This project that begins today is a unique opportunity for the government of Puerto Rico and the Municipality of San Juan to invest resources. It is education, it is health, it is real empowerment of communities, so that they can chart their destiny. That is achieved with projects like this.”
The Municipality of San Juan will invest $5 million annually over the next four years to create a capital fund for loans “that all the businesses and entrepreneurs in the community who will receive mentoring at Oasis will need to move forward,” Romero added.
Sources of financing
The project has received support from the Puerto Rico Department of Education, which allocated pandemic relief funds (ESSER 3) to ensure access to quality education. This intergovernmental collaboration underscores the project’s comprehensive approach, which seeks to address the needs of families through education, health and employment.
Other key sources of private financing, arranged with support from Monge Capital, include Capital One, the Local Initiatives Support Corp. (LISC), Civic Builders, the Nonprofit Finance Fund, the Raza Development Fund, the Low-Income Investment Fund, and various philanthropic foundations.
“Through the Oasis project, Puerto Rico is moving toward a future of greater equity, prosperity and sustainability. We must continue to replicate these types of initiatives throughout Puerto Rico, connecting private and public investments to bring impactful, large-scale projects to vulnerable communities,” Carrera added.
