OZ – New Palmeras Housing Development, San Juan, PR – $1M
New Palmeras Housing Development site consists of 3 Acres in an Opportunity Zone fronting the Trujillo Alto Expressway, just off the intersection with 65Th Infantry Avenue. It is in the island’s capital of San Juan with access to the San Juan International Airport only 10 minutes away.
The proposal is for a 180-unit multi-family housing project designed as (3) Ten Story buildings. The breakdown is (84) Three bedroom (168 parking spaces), (84) two bedroom and (126 parking spaces) and (12) two bedroom accessible and (18 parking spaces) and 33 overall visitor parking spaces fora total of 360 parking spaces.
Description
New Palmeras Housing Development site consists of 3 Acres in an Opportunity Zone fronting the Trujillo Alto Expressway, just off the intersection with 65Th Infantry Avenue. It is in the island’s capital of San Juan with access to the San Juan International Airport only 10 minutes away.
The proposal is for a 180-unit multi-family housing project designed as (3) Ten Story buildings. The breakdown is (84) Three bedroom (168 parking spaces), (84) two bedroom and (126 parking spaces) and (12) two bedroom accessible and (18 parking spaces) and 33 overall visitor parking spaces fora total of 360 parking spaces.
This project qualifies for federal and local tax incentives to include but not limited to HUD Tax Credits, HUD Financing assistance grants, Vouchers for purchase or Rentals.
Entitlements and Utilities All government agency approvals are in place; only requires the construction permit renewal (estimated 90–120 days). Connections for electricity and water are available.
The Developer will be WGPITTS Caribbean. Purchase Price: $1,000,000
