Foundation for Puerto Rico unveils new Center for Strategic Innovation
February 24, 2021
The Foundation for Puerto Rico unveiled its Center for Strategic Innovation, whose mission will be to transform Puerto Rico’s socioeconomic development. The entity will be led by former gubernatorial candidate Alexandra Lúgaro. The Center seeks to achieve transformative change in Puerto Rico and the rest of the world through research and cross-sector partnerships, the nonprofit […]
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Altamira Reserve mixed-use complex under construction in Guaynabo
February 23, 2021
Altamira Reserve, an 80,133 square-foot mixed-use complex in Guaynabo next to the busy Econo Altamira grocery store, is currently under construction with plans to open in the first quarter of 2022. The project is already visible from Martinez Nadal Ave. (PR-20) and is being developed by Bellagio Corp. for owner Rúa, LLC, which is also […]
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Biden administration implements changes in the Paycheck Protection Program
February 23, 2021
The U.S. Small Business Administration is making a number of temporary and permanent changes to the Paycheck Protection Program (PPP) to increase funding received by smaller businesses, including a 14-day period during which only businesses and nonprofits with fewer than 20 employees will be able to submit applications. The program’s exclusive period for smaller businesses […]
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Practical Techie: Movable income, the web allows for portable careers
February 23, 2021
With adequate initiative and creativity, internet users can set up portable careers to work from practically any place with a connection. That is, create an enterprise on-the-go from anywhere in the planet with just a laptop and some WiFi. The fact that the world is evermore interconnected makes transportable business a reality, providing cybernauts with […]
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WCK opens new round of grants of up to $20K for farmers, fisheries
February 23, 2021
Small and medium agribusinesses in Puerto Rico have a new opportunity to apply to the World Central Kitchen Food Producer Network, through which they may land a grant of up to $20,000 to expand their agricultural, fishing or agribusiness project. In addition, applicants may get business and technical training, exposure to WCK’s network of restaurants, […]
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A La Orden Discount moving to former Downtown restaurant location in Hato Rey
February 22, 2021
Puerto Rican furniture and appliance retailer A La Orden Discount — an industry fixture for 45 years — is moving from where it has done business next to Plaza Las Américas mall for 37 of those years, to a new location in the heart of Hato Rey, this media outlet learned. The retailer will take […]
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Iconic Hacienda Tamarindo hotel in Vieques on the block for $3.3M
February 22, 2021
Hacienda Tamarindo, the longest-running hotel in Vieques, is up for sale for $3.3 million, according to the listing published by Paraíso Realty, the real estate firm handling the transaction. The property sits on a hilltop overlooking Esperanza Bay, and features 17 rooms, a pool, a 1,200 square-foot owner’s penthouse, a separate “casita” with its own […]
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LUMA Energy will not increase energy rates through ’24
February 22, 2021
LUMA Energy, the company that will operate Puerto Rico Electric Power Authority’s electric power transmission and distribution system for the next 15 years, vowed not to increase rates during the first three years after it officially begins operating on June 1, 2021. In a presentation to members of the media, LUMA CEO Wayne Stensby confirmed […]
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AON: Health insurance rates will spike 8.8% in ’21 in LatAm, Caribbean
February 22, 2021
The costs of company-sponsored medical plans in Latin America and the Caribbean will increase by 8.8% in 2021, exceeding headline inflation by 6.4%, according to its 2021 Global Medical Trends Rate Report by professional services firm Aon plc. “COVID-19 has demonstrated the need for better global governance regarding the management of medical programs,” said Maricarmen […]
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Gov’t buys elderly residential complex in Ponce for $6.1M
February 22, 2021
The Puerto Rico Public Housing Administration announced the acquisition of the Égida Estancias Doradas en Ponce, a residential project for the elderly, for $6.1 million. The project was owned by Ponce Elderly Limited Partnership and operated under a rental subsidy from the Department of Housing in accordance with Act 173 of Aug. 31, 1996, local […]
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3rd Coast Guard Exchange store to open in Caguas
February 19, 2021
The third Coast Guard Exchange location in Puerto Rico is scheduled to open in the summer in Caguas, the Coast Guard confirmed to this media outlet. The new 22,000 square foot CGX store is located at the Las Catalinas North Shopping Center, next to Burlington. CGX expects to hire 40 employees from the local area […]
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FEMA funds will go to replace 63 cameras on Baldorioty de Castro Ave.
February 19, 2021
The Federal Emergency Management Agency’s recent award of $1.3 million to the Puerto Rico Police seeks to address damages caused by Hurricane María to several police facilities throughout the island, the agency confirmed. This obligation pushes to $45 million the FEMA funds earmarked for repairing stations, replacing essential police equipment and video system equipment on […]
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Puerto Rico airports get $8.5M Coronavirus Response grant from FAA
February 19, 2021
The Federal Aviation Administration approved a second grant to the Puerto Rico Ports Authority for $8.5 million as part of a new round of the Airport Coronavirus Response Grant Program to provide aid during the COVID-19 pandemic, agency Executive Director Josel Pizá-Batiz said. “This new grant will provide economic relief the Ports Authority’s nine airports […]
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Puerto Rico Coliseum completing $2.2M in projects ahead of reopening
February 19, 2021
The Coliseo de Puerto Rico José Miguel Agrelot in Hato Rey is preparing for its reopening and the resumption of events and concerts with the completion of 14 improvement projects at an investment of $2.2 million, Mariela Vallines, executive director of the Conventions District, which oversees the venue. “In addition, 27 other necessary improvement projects […]
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Plaza Centro 1 owner faces $24.6M collection and foreclosure lawsuit
February 18, 2021
Plaza Centro 1 shopping center, owner MJS Caguas Limited Partnership, faces a $24.6 million collection and foreclosure lawsuit from U.S. Bank National Association, filed last week in the Caguas Superior Court. The lawsuit corresponds to an outstanding $28 million loan originated by Canadian Imperial Bank of Commerce in January 2011. The loan is payable on […]
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