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Paseo Caribe Is A New Kind Of Venue

Expected to inject vigor in local nightlife, Casino to serve as the anchor


October 25, 2001
Copyright © 2001 CARIBBEAN BUSINESS. All Rights Reserved.

Paseo Caribe, the 185,000-square-foot retail area of Caribe Village slated to open in the fall of 2003, began construction this week with a groundbreaking ceremony.

Once it opens it is expected to become the preferred meeting place for young urban professionals.

"Paseo Caribe is a one-of-a-kind project in the Caribbean," said Fernando Toro, real-estate broker of Property Concepts, the exclusive leasing company for the project. He added that the project is unique in many other ways.

"The project will have a 22,000-square-foot, nontraditional casino, the largest ever in Puerto Rico. The casino will have a hip and youthful ambiance, contrary to most casinos on the island," explained Toro. Paseo Caribe will also feature movie lounges, which will be everything but ordinary.

"We will have more than five movie lounges where visitors can eat a fine meal and drink wine. It will have comfortable seating arrangements, with large chairs and loveseats," said Toro.

Paseo Caribe will feature eight restaurants, but no fast-food franchises, according to Toro. He said the it will also have space dedicated to nighttime entertainment, including live music.

To accommodate to the needs of its customers, Paseo Caribe will offer valet parking and a 1,700 vehicle parking lot annexed to Caribe Hilton’s current multi-story parking lot.

In addition, Paseo Caribe will include landmark retail stores, offering the chic items but at accessible prices. The stores will be specializing in jewelry, shoes, clothing, music, and galleries, according to Toro. "Everything will be within walking distance," he said.

Toro declined to reveal the names of future retail tenants, saying that leasing contracts are still under negotiation.

This Caribbean Business article appears courtesy of Casiano Communications.
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