CONDADO TRIO CONTRACT SIGNED.
The remodeling and rehabilitation of the properties, which Will revive the Condado (San Juan's traditional tourism and Residential neighborhood), is estimated to cost U$183.3 million. During the next 6 months, IH will focus on finalizing plans and obtaining permits. Construction is scheduled to begin late this year, or early In 2003, said CDH President Milton Segarra.
IH President Hugh Andrews said UBS PaineWebber will structure financing for the various projects. Government participation, he said, will be limited to a US$44.3 million Afica bond, and US$8.8 million in tax credits, with the rest coming from private sources.
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|Date:||Aug 1, 2002|
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