With a $108 million investment, Nicholas Prouty, managing partner of Putnam Bridge, announced Tuesday the beginning of construction of Ciudadela’s third phase, which will include five towers, commercial spaces and private amenities for residents.
Under the slogan, "360 degrees of construction," the Associated General Contractors of America will hold its 96th annual convention for the first time in Puerto Rico, Mar. 18-20 at the Convention Center in Miramar.
The effects of the current administration’s value-added tax proposal as part of a sweeping tax overhaul and the “liquidity time bomb” of the Government Development Bank will make 2015 a “decisive year” for making harsh decisions, analyst firm H. Calero Consulting predicted in the latest edition of its publication “Compass.”
Old San Juan's urban topography is about to undergo a slight tweaking over the next couple of years.
Puerto Rico’s contractors, developers and representatives from the Housing Finance Authority will pursue some $400 million in federal credits available to build rental properties on the island.
Several large-scale construction projects are expected to inject more than $1 million into the island’s economy, along with thousands of jobs, government officials said Tuesday.
Billionaire Nicholas Prouty's latest investment in Puerto Rico — the $108 million expansion of the Ciudadela housing and commercial complex in Santurce — will benefit from local tax incentives to achieve savings he plans to pass on to future buyers.
Gov. Alejandro García-Padilla and U.S. Secretary of Transportation, Anthony Foxx jointly announced over the weekend the beginning of construction for the “Sciences Boulevard,” a $16 million project that will become the main artery in the Science City district.
The head of the Homebuilders Association, Roberto Trápaga, warned Wednesday that funds that fuel the successful “Mi Casa Propia,” a government assistance program that provides mortgage assistance to working people with limited resources, are practically tapped out.
A trio of public and private sector development projects — a housing development, a new connector road and office complexes, apartments, and additional stores — are in the pipeline for the town of Guaynabo at a cost of $350 million, Gov. Alejandro García-Padilla announced Wednesday.
Gov. Alejandro García-Padilla signed an executive order Wednesday establishing a nine-member construction industry advisory board, at the behest of the sector, which seeks to work with the government to improve conditions to do business in Puerto Rico.
Ciudadela de Cayey, a $200 million outlet mall that, if built, would be a third of the size of Puerto Rico's largest mall stands to dramatically alter the physical and economic landscape of the town of Cayey but the ambitious project has raised bitter opposition and is currently stalled due to a lawsuit over the permitting process.
National University College is investing a total of $12 million to fund the expansion of its Ponce, Río Grande, and Bayamón campuses, as part of a five-year strategic plan to provide better facilities for students and increase the number of enrollments.
The construction of a Chabad Jewish Center in Isla Verde will inject $5 million into the local economy and create 50 direct and indirect jobs, Gov. Alejandro García-Padilla said Tuesday at the groundbreaking for the project.
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