With the funds, the Science Trust — which won as part of the EDA’s Venture Challenge competition — will develop its “BioLeap: A Life Sciences Innovation Incubator Program.”
Sponsored by RSM
“This project not only represents a significant investment in our island’s tourism infrastructure, but also symbolizes Puerto Rico’s ability to attract and execute large-scale projects.
The Investment Portfolio Program, with a budget of $800 million, plays a crucial role in offering loans with favorable terms for the development of projects that have the potential to transform the Puerto Rican economy.”
— Puerto Rico Housing Secretary William Rodríguez regarding the construction of a $77 million dual-branded hotel project in San Juan’s Convention Center District, featuring Hilton’s Hampton and Homewood Suites.
The project by PRISA Group includes a 400-vehicle parking structure and a 175,000-square-foot hotel tower, financed by Banco Popular and a $10 million federal disaster recovery loan from the Economic Development Investment Portfolio Program managed by the Department of Housing.
