Puerto Rico's Paseo Caribe Development Relaunched

Puerto Rico's Paseo Caribe Development Relaunched

Residential News » Latin America Residential News Edition | By Michael Gerrity | February 29, 2012 9:34 AM ET

This week the Puerto Rico-based San Gerónimo Caribe Project, Inc. announced the re-launch and commencement of construction of Paseo Caribe.  The open-air, waterfront retail and high-end residential property is undergoing a complete revitalization as a result of the collaborative business relationship between the stakeholders.

"As part of the re-launch, we have assembled an outstanding and talented team that will create the ultimate urban retreat and truly redefine the luxury lifestyle experience in the Caribbean," stated John Tolbert, Principal/Managing Director, Revelation Consultancy, LLC, Project Director for Paseo Caribe. "The vision has always been for Paseo Caribe to be the first fully integrated lifestyle center in Puerto Rico.  We are now moving forward to make this vision a reality."

Paseo Caribe, located on Ponce de Leon Avenue at the Gateway to Old San Juan, is steps from Condado Lagoon, Fort San Geronimo and the Atlantic Ocean. The mixed-use development includes the Residences at Caribe Plaza, Laguna Plaza and Bahia Plaza, along with an open-air retail lifestyle center and parking complex for more than 1400 vehicles, of which 700 are dedicated to the retail center.

Internationally known fashion designer Nono Maldonado was selected to design the model residences at Laguna Plaza, as well as enhance the building's public spaces. The signature element of the public area is the Residents' Lounge and outdoor entertainment space, which overlooks the retail courtyard and offers dramatic views of the Condado Lagoon and Atlantic Ocean. Maldonado's sophisticated vision and style make Laguna Plaza the ideal urban sanctuary for business or leisure homeowners.

Maldonado says San Juan's dynamic culture and rich history inspired the design for Laguna Plaza. "Our goal was to create an unmistakably sleek, modern residential experience that captures an understated luxury, and the creative energy and unique architecture of Puerto Rico, making Laguna Plaza the most fashionable address in San Juan."

The centerpiece of the project will be the newly developed retail component, The Shops at San Geronimo, that will offer a mix of Puerto Rican merchants combined with global retailers and several waterfront dining and entertainment venues. When complete, the retail complex will house between forty and fifty specialty shops, boutiques and restaurants.

"Similar to the world's leading metropolitan neighborhoods - Barcelona, London, New York City, Los Angeles - we envision the perfect blend of local designers and restaurants with the most interesting global and emerging boutiques, brands and personalities, along the lines of Intermix, Scoop, Lululemon, and Rosa Mexicana," added Tolbert. "This level of retail, dining and entertainment is long overdue in Puerto Rico, and we are thrilled to deliver it in a first to market environment at Paseo Caribe."

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