Puerto Rican millionaires flocking to Scrub Island Resort
A view of the Scrub Island Resort and marina from one of the villas.
The Scrub Island Resort, Spa & Marina, a $150 million tourism/residential complex development named after its location on a 230-acre island by the same name a mile east from Tortola in the British Virgin Islands, is attracting Puerto Rico’s well-to-do to is pristine waters and posh amenities.
Open since March 2010, the luxury, self-sufficient property has drawn local interest in its two-, three- and four-bedroom villas, as well as its marina suites, half of which are owned by Puerto Rico residents, said Norwood Smith, vice president of sales and marketing of Scrub Island Resort, Spa & Marina
“There’s a strong connection between Scrub Island Resort and Puerto Rico because of the 26 owners that we have right now, 14 of them are from Puerto Rico. Five of them own villas, and the other nine own marina suites,” he said. “We build our villas when people buy them.”
These properties, and the built-in lavish amenities, don’t come cheap. Prices for the villas range from $2.5 million to $4.5 million, while the marina suites start at $1.5 million, he said.
Scrub Island Resort consist of 26 guest rooms; 26, one- and two-bedroom suites; and a collection of hillside villas. All offer dramatic views of the Caribbean Sea. The resort also features four restaurants.
Aside from the accommodations, the Scrub Island Resort also features three private beaches and a 55-slip marina for lease or transient docking, including five for mega yachts up to 180 feet.
“We’ve done a good job in capturing the love that Puerto Rico residents have for the water and for their boats especially. The boating community has found our island and a significant revenue stream for our resort is the full-service marina,” said Smith, who was in Puerto Rico last week, to among other things, speak with the local media about the resort that has been part of Marriott’s “Autograph Collection” since December 2011.
During his interview with News is my Business, Smith noted that Puerto Rico customers — mostly doctors, lawyers and construction developers — have flocked to Scrub Island “a bit spontaneously.”
He also said marketing efforts through luxury real estate listings broker Sotheby’s International Realty Affiliates LLC, as well as ads in specialized publications like Ocean Homes and Islands Magazine, have fueled interest as of late.
There should be a special tax imposed on any
Puerto Rican millionaire that buys real estate
outside of the island. It’s disgraceful for anyone
who is financially able to but chooses instead to
turn their back on where they made their money.
They are one of the reasons that Puerto Rico is
doing so badly. These “takers” should have their
names listed in all newspapers.