OZ- El Faro Housing Development Project, Rio Grande, PR- $4M
The El Faro Housing Development project consists of 125 Acres in an Opportunity Zone located in Rio Grande; approximately 30 minutes East of the island’s capital of San Juan with direct access to the major highway (PR66) of the municipality, with density approved for 569 Units.
Description
The El Faro Housing Development project consists of 125 Acres in an Opportunity Zone located in Rio Grande; approximately 30 minutes East of the island’s capital of San Juan with direct access to the major highway (PR66) of the municipality, with density approved for 569 Units.
This project qualifies for federal and local tax incentives to include but not limited to HUD Tax Credits, HUD Financing assistance grants, Voucher for Purchase or Rentals, and rural development assistance from the Department of Agriculture (up to 100% financing and closing costs for end buyers). Entitlements and Utilities Permitted to remove 4 million meters of fill. Workforce Housing and can also be in direct support of the Grand Reserve Master Development located 9-11 minutes away.
