Puerto Rico has issued a Request for Qualifications (RFQ) for Master Developers for approximately 3,000 acres of coastal land and facilities on the eastern end of the island that could include a casino complex.
Formerly serving as the U.S. Naval Station “Roosevelt Roads,” the property includes prime Caribbean coastline with an airfield and waterfront development, according to press materials. It is adjacent to Puerto Rico’s renowned El Yunque rainforest and just minutes away from of some of the world’s most beautiful beaches in Vieques and Culebra.
The RFQ, issued by the Department of Economic Development & Commerce (DDEC) and the Roosevelt Roads Local Redevelopment Authority, is looking to attract submissions from highly qualified developers that have the expertise and ability to design, build, operate, maintain and finance all or part of one of the most attractive sites in the world. Specifically, the plan seeks to attract development in nine zones, ranging from a waterfront district to sustainable entertainment areas, eco-tourism lodges, an industrial park, town centers, residential housing, and corporate offices ideal for hotel properties, marinas, casinos, educational institutions and other mixed use development.
“This announcement marks a milestone in the redevelopment process of the lands at Roosevelt Roads that will create the jobs and spur economic development that will transform the lives of the people and economies of the region and Puerto Rico,” said Malu Blázquez Arsuaga, executive director of the Local Redevelopment Authority in a prepared statement. “Not only is the land’s vast size and pre-existing infrastructure unusual, but it also offers unparalleled access by sea and air, a year-round tropical climate, passport-free travel for U.S. citizens and competitive tax benefits for investors.”
The Request for Qualifications (RFQ) is available at www.rooseveltroads.pr.gov, Section RFQ. Bidder Registration Forms are due on Wednesday, July 16, 2014. The LRA will hold an optional pre-submittal meeting and property tour on Thursday, July 17, 2014.
The Statement of Qualifications deadline for respondents is due on Thursday, August 7, 2014.
After the LRA has made a pre-selection of various Master Developers, the second phase will involve requesting and evaluating their proposals through a Request for Proposals (RFP) process. The LRA estimates that the selection of Master Developers will culminate by December 2014.