Construction begins on $100M Marea Residences project
Construction is underway on Marea Residences, a new oceanfront development within Grand Reserve Puerto Rico, part of the island’s growing high-end residential and tourism sectors.
The project, following strong pre-sales, represents an investment of more than $100 million and is expected to generate more than 150 direct and indirect jobs in Río Grande.
Marea Residences will include two four-story buildings with 16 residences of about 3,200 square feet each, along with an 8,000-square-foot beach club featuring a restaurant, bar and event space.
“This investment brings best-in-class amenities to the region and reflects our continued commitment to excellence in design, hospitality and community development,” said Nickolaus Cortese, executive vice president of Grand Reserve Puerto Rico.
Homeowners will have access to the new Caya Beach Club, the Batu Sports Center, the golf course that hosts the Puerto Rico Open and the Hyatt Regency Grand Reserve. Corcoran Puerto Rico, the project’s sales firm, said half of the residences have been sold.
“Sixty percent of buyers are Puerto Ricans from across the island who recognize not only the property’s value in terms of exclusivity and modern design but also its investment potential,” said Blanca López-Pierluisi, principal at Corcoran Puerto Rico.
Designed by OBMI Architecture and built by Puerto Rican firm QB Group, Marea Residences incorporates modern technology and tropical design elements.
