A New $30 Million Hotel Project in San Juan’s Condado District
A major new hotel development
By the Caribbean Journal staff
A major new hotel project will soon launch in the Condado district of Puerto Rico’s capital, San Juan.
The project began in earnest with the recent demolition of buildings 880 and 884 on Ashford Avenue.
It will include approximately $30 million in investment in various stages of construction, with the end result being a 164-room hotel.
“We are extremely excited about this project and how it will contribute to the tourist area in Condado,” said Osvaldo Rivera Cruz, AC Condado LLC Developer. “We are particularly pleased that this collaboration has been achieved through the involvement of a Puerto Rican company that will create jobs in the short-term as well as the long-term, and increase the inventory of hotel rooms on the island expanding the offerings with innovative entertainment areas and restaurants, among other amenities.”
The project will create nearly 375 jobs during construction and 150 during operation, according to the Puerto Rico Tourism Company.
“The rebirth of Condado is real,” said Puerto Rico’s Minister of Economic Development and Trade, Alberto Bacó Bagué . “There have been a number of private investments in tourism projects as part of this redevelopment, including the Regency Hotel renovation, the reconstruction of San Juan Beach, the expansion of the Marriott Hotel and the reopening of Hotel Ambassador. These additions symbolize the growth in several fronts and the contribution to the economic transformation of Puerto Rico.”
