New $19.4M construction project slated for Old San Juan
February 16, 2015
Old San Juan's urban topography is about to undergo a slight tweaking over the next couple of years.
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Housing sector, gov’t to pursue $400M in federal credits
November 25, 2014
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.
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Gov’t: New construction boosting Puerto Rico’s economy
September 24, 2014
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.
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Ciudadela’s third phase to begin construction soon
September 19, 2014
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.
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Gov’t breaks ground on $16M ‘Sciences Boulevard’
June 2, 2014
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.
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Lands Authority: ‘There’s plenty of land to be developed’
April 29, 2014
Puerto Rico Lands Authority Executive Director Luis Rivero-Cubano recently told members of the Associated General Contractors that there are plenty of business opportunities for the sector to develop residential, tourism and commercial properties throughout the island.
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Homebuilders: End of ‘Mi Casa Propia’ will hurt sector
April 10, 2014
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.
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$350M mega-development complex slated for Guaynabo
March 27, 2014
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.
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Governor creates construction industry advisory board
January 30, 2014
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.
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Plan for $200M Cayey mega mall stuck in Supreme Court
January 13, 2014
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.
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National University pumping $12M into new projects
January 10, 2014
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.
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New Jewish center to pump $5M into local economy
December 11, 2013
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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San Jorge Hospital to attend mental issues with new wing
December 2, 2013
Fresh from a recent $30 million investment in a new four-story building housing an expanded emergency room, San Jorge Children's Hospital is readying for yet another service expansion.
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Puerto Rican builders looking to LatAm for growth
November 1, 2013
Large scale exports of local building services to Latin America may soon be a reality for hundreds of Puerto Rican entrepreneurs, as countries such as Peru and Colombia are interested in developing infrastructure projects and public-private partnerships worth billions that could be served from the island.
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Puerto Rico home sales at risk due to new federal rules
October 23, 2013
Puerto Rico’s mortgage bankers and housing developers raised a red flag Tuesday to warn about the potentially devastating effects of a recently enacted federal regulation that sets new parameters that could make it difficult for would-be island home buyers to qualify for loans starting next year.
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