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EXECUTIVE DEVELOPMENT SUMMARY
200 Single Family & 100 Multi-Family Low Income Residential Development Opportunity
Rio Grande, Puerto Rico
Contact: Adam Greenfader (787) 667-8084, [email protected]
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Key Facts
Location: 15 minutes from Beltz Outlet (Highway 66)
in the Zarzal Ward, Rio Grande, PR Site : .6 Miles (1 minute) from Highway PR-3
Adjacent to Rio Grande Estates (West)
Project: 200 single family units (Desarrollo Preliminar) 90 walk-ups apartments (Raw Land)
Entitlements: ARPE (Desarrollo Preliminar) – 09DX2-0000-02552
Consulta 2006-22-0408-jpu Construction start: 6-8 months Lot Size: 350 M2 Sales Price: $115,000 to $135,000 Lambert: x=221,200 / y=61,400 Size: 47 Cuerdas (Acres) Current Use: Vacant parcels with no improvements Topography: Flat with rolling hills Soil: Excellent for construction Flood Hazard: Not located in Flood Hazard Area. Infrastructure: Water, sewer, electricity, telephone, cable TV. # Catastro: 091 000 008 19 001 # Segregation: 91-22-A-529 CGT # 80 12/2/1991
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Financial Analysis The project can be ready to break ground within 6 months. The project should have a return of approximately 27% or $6,400,000.00 within 24 months. A proforma is available upon request for more details.
Location
The project site is located in the municipality of Rio Grande. The site is located approximately 15 minutes from Highway #66. Construction of the 2nd phase of highway 66 from Canovanas to Rio Grande has will bring the site within minutes of the metropolitan area.
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Site The site is flat with rolling hills. It is adjacent to highway PR 3 (.6 Miles) and is adjacent to Rio Grande Estates. The project has all the necessary infrastructure, electrical, water, and sanitary connections.
Rio Mar Hotel
San Juan
Rio Grande Estates
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Development The Las Colindas Development has all the necessary approvals (Desarrollo Preliminar) for 200 single family homes in 350 M2 lots. In addition, the project has ample space for a multifamily development of 90- 100 units.
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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View From Above
.6 Miles Project Access from Highway PR-3
200 Single Family Units
100 Multi-Family Units
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Flat land and Excellent Soil Conditions
Great Street Access and Proximate Infrastructure
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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Home Model
Floor Plan
The home model is approximately 967 SF. It has 3 bedrooms and 2 baths. The carport can be expanded.
EXECUTIVE DEVELOPMENT SUMMARY 2012
LOW INCOME DEVELOPMENT RIO GRANDE, PUERTO RICO
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