Puerto Rico, Navy Reach Agreement over Roosevelt Roads EDC
- January 18, 2012
Next week the Navy plans to transfer about 1,000 acres at the former Naval Station Roosevelt Roads to the commonwealth of Puerto Rico, jumpstarting the property’s conversion into an eco-tourist and commercial destination.
The scheduled transfer follows the economic development conveyance (EDC) agreement the two parties signed last month for 1,370 acres at the 8,700-acre base located on the eastern tip of Puerto Rico. The deal calls for the commonwealth to pay the Navy $8 million along with 40 percent of all real estate proceeds in excess of $56.8 million through September 2035, according to Jimmy Anderson, director of the Navy’s BRAC Program Management Office Southeast.
Also coming soon is the Navy’s auction of 2,036 acres at the base. The auction, scheduled to begin Feb. 13, will offer two separate parcels:
- Parcel I covers 1,539 acres and offers a variety of potential reuses, including a town center, recreation, a retreat/conference/learning center and collateral development; and
- Parcel II consists of 497 acres and includes hundreds of existing homes and other buildings; the parcel is designated for a residential, corporate and institutional community.
The tract the Navy is handing over to the commonwealth will take advantage of two existing harbor areas and the site’s natural environment to develop:
- entertainment and retail waterfront facilities, an international cruise port and ferry terminal, a small craft marina and fishing piers;
- a signature hotel, recreational facilities and a tourism complex with a casino;
- an eco-tourist resort, including a national park lodge, an eco-institute research and visitor center, oceanfront resort villas and a harbor-side fishing village;
- a golf course; and
The LRA updated the base’s reuse plan in 2010, increasing its emphasis on tourism to take advantage of the site’s lush natural setting. The oceanfront property is situated amid a rain forest and other conservation areas, and offers views of the nearby islands of Vieques and Culebra.