Construction is well ‌underway on One Condado, a new​ luxury ⁣apartment building poised too reshape the skyline‍ of Condado, Puerto Rico. Developed by Grupo Vima, the project‌ represents a ‌significant investment in the area’s residential market and aims to ⁢address the growing demand for modern living spaces.

Project Details and Amenities

Located on Ashford ‌Avenue, one Condado will feature 116 apartments ranging ‍from one to three bedrooms. According‍ to Grupo Vima, the ⁣building will offer residents a​ range ‍of high-end amenities, including a rooftop pool, a fitness center, co-working spaces,‍ and⁢ concierge services. The project also incorporates approximately 8,000 square feet‌ of commercial space on the ground floor, intended‍ for retail and ⁤dining establishments.

Investment and Economic impact

The ⁣advancement represents a $65 million investment, signaling confidence in the continued growth⁤ of the Condado area.Grupo Vima secured a $42.5 million construction ‌loan from FirstBank in​ February ⁢2024 to facilitate the project, demonstrating the financial institution’s support for the development.‍ this influx of capital is expected‍ to generate employment opportunities during the construction phase​ and contribute to⁢ the⁤ local economy once ‍completed.

Design and construction

The architectural ⁢design,lead by Falla & Baez,emphasizes modern aesthetics and functionality. The building’s structure, being built by MCC Construction,⁤ is 12 stories high and is ⁤designed to blend seamlessly with the surrounding urban ​landscape.Construction began in late 2023, and the project is currently on track for⁤ completion in the fall of 2025.

Addressing Housing Needs in Condado

The addition of One Condado comes at a time when demand for housing in Condado remains strong. The project aims to provide a‌ diverse range of housing options for residents and visitors alike, catering to both long-term residents and those seeking seasonal accommodations.The development is expected to alleviate some of the pressure on the existing housing market and contribute to the revitalization of the Condado district.

Looking Ahead

One Condado is poised to become a landmark destination in San Juan, offering a sophisticated‌ living experience and contributing to the vibrant⁣ energy of the Condado⁢ neighborhood. The project’s success will⁤ likely spur further investment in the area, solidifying Condado’s position as a⁤ premier⁤ residential and commercial ⁢hub in Puerto Rico.