The overhaul of the historic Roosevelt Roads Naval Station, located in the Municipality of Ceiba, is a key element in the Government’s strategy to create jobs and reignite the economy of Puerto Rico’s eastern region. Adjacent to the site is a major airport with an 11,000 foot runway. Furthermore, the locations waterfront harbor provides two-deep water ports, a 40 foot-deep and 1,000 foot-wide navigation channel, and also includes three piers. These transportation facilities will serve as a strategic and logistical hub for tourism and business between the United States and Latin America.
The Roosevelt Roads redevelopment is amixed-use project that will include hotel developments, eco-tourism, housing, office buildings, commercial centers, shops, restaurants, light industrial areas, nautical facilities, schools, entertainment areas, golf courses, and other uses. In addition to promoting the economic evolution of Puerto Rico’s eastern region, the renovation of Roosevelt Roads will also promote the establishment of affordable housing for people with average incomes in the region. The inclusion of local small businesses will have a positive micro-economic impact on the area. In order to accomplish this, the local workforce will have access to training and retraining programs. During the rehabilitation the project will keep its commitment to environmental protection.
The project will unfold on approximately 3,000 acres of developable land, which includes facilities with matchless economical, ecological and historical value. During the first half of 2015, the Local Redevelopment Authority (LRA) for Roosevelt Roads is negotiating terms and conditions with a Master Developer as part of an Exclusive Negotiating Agreement signed on February 2, 2015. This Master Developer was selected by the LRA Board of Directors on December 22, 2014 as part of a Request for Credentials/Request for Proposals process initiated by the LRA in June 2014.
In addition, the nearby El Yunque National Forest, home to the only tropical rainforest in the United States, already attracts more than 1 million visitors annually. Its link to the Roosevelt Roads renewal has the potential to draw more tourists. To top it off, it is minutes away from some of the world’s most magnificent beaches, such as Luquillo Beach, and the neighboring islands of Vieques and Culebra, which will be accessible by maritime ferries.
Contact us to learn more about the Roosevelt Roads Redevelopment initiative.