Reuben Brothers and Three Rules Capital Present Plan for a Coastal Community in Cabo Rojo, on the West Coast of Puerto Rico
[San Juan, Puerto Rico] – Reuben Brothers and Three Rules Capital (the “Developers”) have taken a significant step towards their plans for a new community in Puerto Rico, named Esencia. The Developers, including Roberto Ruiz Vargas in Puerto Rico, have filed their proposed plan with the Puerto Rico Permit Management Office (OGPe, for its acronym in Spanish). Proposed as a unique world-class coastal community with hotels and branded residences, Esencia regards its tropical location overlooking the Caribbean Sea at the Boquerón Bay in Cabo Rojo, on the west coast of Puerto Rico.
The $2 billion+ investment into the area envisions up to 500 luxury hotel keys and up to 900 branded residences, whilst expected to deliver 2,000+ jobs. Esencia is anchored by some of the most discerning hotel operators in the world including Aman Group, Mandarin Oriental Hotel Group, and Rosewood Hotels & Resorts. Encompassing over 2,000-acres of land, the plan incorporates two golf courses, hiking and biking trails, spa and wellness, sports and racket clubs, equestrian center, a bilingual K-12 school, a health and emergency care facility, a vibrant town center, as well as beach access and amenities for residents, hotel guests and the wider public and community.
The plan, which will be implemented in multiple phases, is the result of two years of careful planning and analysis by a comprehensive team of consultants in a diversity of fields - environmental, archaeology, conservation, design, economy, among others. For over a year the Developers have been working with residents, community leaders and interest groups in Cabo Rojo, whose input and advice were incorporated into the filing. The proponents will request that public hearings are held as part of the formal permitting process.
Aiming for a lighter footprint, the respectfully and consciously designed plan by Puerto Rico-based Álvarez Díaz & Villalón, and Florida-based EDSA, proposes limiting built structures in Esencia to 25% of the land or less. The remaining 75% of the land or more will be maintained as open space for conservation, active and passive recreation, and public use. Mangroves and water corridors will be protected, while enhancing the natural coastal landscape for generations to come. Coastal setbacks and public access will be carefully respected and improved . Further, Esencia is expected to significantly contribute to the improvement and modernization of the area’s infrastructure - roads, potable water, sewage systems, energy, and public coastal access.
Esencia is based on the fundamental pillars of harmonious design, sustainability, boundless adventure, cultural diversity, thoughtful service, and exemplary infrastructure. Accordingly, the Developers are committed to creating a vibrant design-centered cosmopolitan community that conserves the essential traits that first drew them to the idyllic location, fosters lasting and positive connections between people and nature, and sets forth a new era of socioeconomic development in the region. XXX - 2 -
Reuben Brothers
Reuben Brothers is a family-led, global investment business focusing on real estate, private equity, debt financing, hospitality, sports, media, retail, and energy, among other sectors. The Group’s real estate holdings are significant in scale and broadly diversified, encompassing office, retail, hotel, residential and infrastructure properties across the world, predominantly in the US, UK, and Europe. Working with the best hospitality providers globally, Reuben Brothers’ notable assets include Century Plaza in Los Angeles, The Surrey Hotel in New York, The Vineta in Palm Beach, Admiralty Arch, Cambridge House, and 5 Hertford Street in London, as well as land and real estate in Spain and Italy.
The family’s philanthropic arm, the Reuben Foundation, was formed in 2002 and makes essential contributions to the advancement of healthcare, education, and the arts worldwide. www.reubenbrothers.com
Three Rules Capital
Three Rules Capital is a global real estate development company specializing in pioneering luxury residential and resort communities, with offices in Puerto Rico. Founded by Will Bennett and Roberto Ruiz Vargas, who has a long-term attachment to the Island, having been born to a Puerto Rican mother and a Dominican father and growing up between the two islands. Three Rules Capital reflects both integrity and luxury pedigree. The partners bring an extensive track record of working with leading hospitality brands to create one-of-a-kind destinations. This has included structuring capital investment, construction, and development of major resort and residential projects throughout Puerto Rico, Mexico, Hawaii, Dominican Republic, Portugal, and New York. www.threerulescapital.com
Esencia’s Advisory Team
• Design:
o Álvarez Díaz & Villalón Puerto Rico, Lead Planners and Architects of Record
o EDSA Florida, Master Planners & Landscape Architects
o Reese Jones Inc., Golf Course Designers
• Financial:
o JP Morgan New York, Lead Bank