Puerto Rico marina awaits $450M renovation

Associated Press + More

SAN JUAN, Puerto Rico (AP) — The Caribbean's largest marina is getting a $450 million makeover.

A Connecticut-based hedge fund is improving infrastructure and facilities at the Puerto del Rey marina in northeast Puerto Rico.

Gov. Alejandro Garcia Padilla said Friday that Putnam Bridge Funding LLC also is considering adding more docks to expand the current capacity of 1,100 boats and allowing boats longer than 200 feet (61 meters) to dock there. He said the company also has plans to build condo-hotels and villas.

Putnam Bridge Funding bought the marina earlier this year after its former owners filed for bankruptcy.

Garcia said he expects the renovation to create up to 400 temporary jobs and up to 500 permanent ones.

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