Puerto Rico Eyes Developers For 3,000-Acre Former US Naval Base
Above: the Roosevelt Roads site in Puerto Rico
By the Caribbean Journal staff
Puerto Rico’s government has issued a Request for Qualifications to master developers for a nearly 3,000-acre site on the island.
The land is the former “Roosevelt Roads” US Naval base that closed in 2004, which includes Caribbean coastline, an airfield and waterfront land.
It is adjacent to the El Yunque rainforest, and nearby to the islands of Vieques and Culebra and located on the easternmost end of the island of Puerto Rico.
“This announcement marks a milestone in the redevelopment process of the lands at Roosevelt Roads that will create the jobs and spur economic development that will transform the lives of the people and economies of the region and Puerto Rico,” said Malu Blazquez Arsuaga, executive director of the Local Redevelopment Authority. ““Not only is the land’s vast size and pre-existing infrastructure unusual, but it also offers unparalleled access by sea and air, a year-round tropical climate, passport-free travel for U.S. citizens and competitive tax benefits for investors.”
The project, a major priority for Puerto Rico Governor Alejandro Garcia Padilla, includes a 25-year development plan.
The government said a potential development could create as many as 20,000 jobs in that period and an investment of $2 billion.
It said the land offered opportunities for “tourism, commercial, recreational, residential, educational and light industrial.”
“We are excited to see this area transformed into a world-class destination for residents and visitors,” said Alberto Baco-Bague, secretary of Puerto Rico’s Department of Economic Development & Commerce. “Roosevelt Roads promises extraordinary development opportunities that are made attractive by our tax incentives, a pro-business environment, skilled and competitive workforce, political stability and the benefits of a US jurisdiction.”
The government said bidder registrations were due on Wednesday, July 16, with the first optional pre-submittal meeting and property tour the following day.
