The Weekly Journal - November 13, 2019

Page 1

Puerto Rico and the Caribbean

www.theweeklyjournal.com

>Courtesy Marriott

Wednesday, November 13-20, 2019 - // no. 029

MARRIOTT PREPARES TO DEVELOP A NEW HOTEL IN ISLA VERDE P8 MILLIONS IN FEDERAL GRANTS AVAILABLE FOR LOCAL RESEARCH P6

INVESTMENT

OF $235 MILLION >Gabriel López Albarrán

An electric power system, an extended care facility for veterans and an affordable-living housing complex will boost Guaynabo’s economy

G Rosario Fajardo

NICOLE FAS AMONG THE BEST MIXOLOGISTS IN THE WORLD P24

rfajardo@wjournalpr.com

@RosarioWJournal

uaynabo Mayor Ángel Pérez Otero has been pushing for more economic development initiatives, and the latest to be announced are three publicprivate partnerships (P3) in the areas of energy generation and distribution, assisted living facilities for veterans and social interest housing. Puma Energy is investing $150 million for an electric

power system to generate electricity using liquid petroleum gas. The Four Winds Assisted Living and Extended Care for Veterans is a $60 million project and the Proyecto Barrio Río is a $25 million affordable-living housing complex. All three “joint ventures,” or P3s, are being developed in conjunction with Guaynabo City, which owns the land that will be developed. The municipality will also offer other support, such as tax incentives, and assist with the permit process. GO TO PAGE 4

>Courtesy Guaynabo City

GENESIS SECURITY EXPANDS TO FLORIDA P14

P3 PROJECTS ON THE WAY WITH AN


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