- Funding Needed
- $232 (Mio)
- EB5 Funding
- $100 (Mio)
- EB-5 Investors
- 200
- Investment Amount
- $500,000
- Subscription Fee
- 50,000
- Job Creation per Investor
- 16.3
- Job Creation (Total)
- 3268.9
- Category
- Accommodation and Food Services
- Sub-Category
- Hotels (except Casino Hotels) and Motels
- Structure
- Loan
- Amount of EB-5 investors anticipated for this phase?
- 230
- Expected Maturity
- 5 years, with an option to extend for two additional 1 year periods.
- Expected Return
- 1.0%
- Principal equity in project?
- Yes
- Does this project have approved I-526's?
- No
- Does this Regional Center have approved I-526's?
- No
- Does this Regional Center have approved I-829's?
- No
- State
- Puerto Rico
- Location
- State Road PR-3, Quebrada Vueltas Ward, Fajardo, Puerto Rico
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- Last Update: February 04, 2015 01:01 PM
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Resort at Cayo Largo
- Developer Name
- Resort at Cayo Largo, LLC
Project Description
The Resort hotel (the "Hotel") will consist of 136 rooms (140 keys) with approximately 25% suites (two of the Hotel's two-bedroom suites arc designed with 2 keys apiece, and the Royal Suite is designed with 3 keys, resulting in 136 rooms and 140 keys). The Hotel will offer guests a variety of room options from typical guest rooms beginning at approximately 600 square feet to a world- class luxury suite with approximately 5,400 square feet of living space. The Hotel will offer guest amenities and facilities consistent with expectations of the Four Seasons© brand including the following:
• Multiple pools designed to accommodate families and adults;
• A 5-star spa and fitness center will approximately 16,800 combined square feet of facilities with an additional outdoor yoga pavilion;
• A Kids Center and Teen Center with approximately 3,000 square feet of combined activity space;
• Meeting and event space including approximately 12,000 square feet of banquet, meeting, pre-function and business services spaces with outdoor terraces;
• Multiple restaurants providing a variety of dining and entertainment options, designed and decorated to provide separate and unique dining and nighttime entertainment experiences for hotel guests and visitors from the surrounding community;
• An integrated business center; and
• Approximately 2,000 square feet of retail where guest can purchase necessary staples, jewelry, clothing, and spa and beach merchandise.
Project Timeline
The Hotel Project will be constructed over a 36-month period commencing in June of 2013 and ending in the middle of 2016, subject to a variety of factors.
Resort at Cayo Largo: Map
State Road PR-3, Quebrada Vueltas Ward, Fajardo, Puerto Rico
Project Location Description
The Hotel Project is located on the Northeast Coast o f Puerto Rico in Quebrada Vueltas Ward, Fajardo. The site, which was acquired by the Developer in 2007, encompasses approximately 6 10 acres of land and beachfront and is locally referred to as Cayo Largo. The site is located approximately 35 miles from the Luis Munoz Marin International Airport in San Juan, which will serve as the primary entry point for the Resort's guests. The recent completion of the 3. 8-mile extension of Highway PR-66 to Rio Grande should provide guests with reduced travel time from the Airport to the site. The Resort property contains a long winding entry road that starts just off the highway and continues to the Hotel Site located directly on the oceanfront.
To the South, the Resort connects to tile independently owned Puerto del Rey Marina, one o f tile Caribbean's largest full-service marinas with 1,100 boat slips and accommodations for mega yachts of over 200 feet. The marina will offer guests a variety of nautical activities, including deep-sea fishing, charters, scuba diving, and excursions to the off-shore islands of Vieques, Culebra and the U.S. Virgin Islands. I n June of 2013, Putnam Bridge Funding LLC, a Greenwich, Connecticut based hedge fund, took over ownership and operation of Marina Puerto del Rey and reportedly plans for substantial investments up to $ 200 million in upgrades.
Cayo Largo's topography is defined by rolling, scenic hills rising to over 300 feet above sea level, and providing panoramic views of tile Caribbean Sea to tile East and the El Yunque Rain Forest to the West. The hills of the Cayo Largo Resort provide views of tile Caribbean Sea from almost every point on the property, including seven golf fairways and greens, which it is hoped will make the resort a preferred destination for golf enthusiasts.
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