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Ponce To Be Site Of $120 Million Marina Resort Project


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

Developer Marina de Ponce Inc. has begun construction of a $120 million marina resort project on 80 acres of land at Ponce’s west side, next to the PR-52 and PR-2 intersection.

Once fully completed, Marina de Ponce will consist of 37 exclusive marina villas with private docks, 422 condo-apartments, a state-of-the-art marina with 250 docks & dry-stack for 352 boats, a 150,000-square-foot shopping center, and a 108-room hotel.

According to Project Manager Tommy Rodriguez, construction of Phase I & II are underway, which include the marina & dry-stack, 37 villas, 80 condo units, and the project’s streets & access areas, clubhouse, tennis courts, gazebos, and swimming pools.

Estimated cost of project’s first two phases is $40 million, with 175 direct jobs generated during the initial construction phase, Rodriguez said.

The marina is scheduled for completion in early 2002, while the 37 villas have a summer 2003 delivery date. The first 80-condo units are scheduled for completion by the end of 2003.

"The 26-acre marina will be the island’s first floating marina of its kind that uses the Unifloat concrete flotation system, to be designed & built by Florida-based Belingham Marina," Rodriguez told CARIBBEAN BUSINESS.

The marina will be located inland, making it safer for vessels during times of bad weather or even a hurricane, Rodriguez explained, adding that all docks will have full service power stations with fresh water, power outlets, and cable TV.

The breakwater, flushing & entrance channels, and marina basin excavation work have been completed, while mitigation plan and work on the channel area are 95% completed.

The marina will also house a convenience store, skipper shop, dockmaster area, administration office, and a restaurant, Rodriguez added.

In Phase III, 120 additional condo units will be developed, their completion scheduled for Summer 2007.

Phases IV and V will comprise the development of another 120 condo units, with delivery by early 2009. Under Phase VI, a 102-unit walk up complex will be completed by the end of 2009.

Condo units will have between 1,450 and 2,212 square feet of living space depending on the model, while the two-story plus penthouse marina villas will have 3,700 square feet of living space, a two-car garage, and hurricane-resistant windows.

Development date of the 15.6-acre commercial area–for the future construction of a 150,000 square feet shopping center and 108-room hotel–has not been determined yet.

Prices start in the low $200,000 for the condo units and around $500,000 for the marina villas. Tommy Realty Group will be in charge of sales.

Project’s pre-interim financing was provided by Doral Bank. No general contractor has been chosen yet for the project.

This Caribbean Business article appears courtesy of Casiano Communications.
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