Bayshore Villas in San Juan, Puerto Rico is the first mixed-income development on the island, offering 174 apartments for market-rate, moderate-income, and low-income households.

The development was built to withstand tropical storm events, to allow residents to safely shelter- in- place, and to conserve expensive energy (through Energy Star for Homes standards)  The development includes an on- site management/leasing office, a Club Room with a business center and a fitness room. 6,000 square feet of commercial space is soon to be home of a Supermercado Centro Ahorros. Site amenities include landscaping, site lights, site utilities, controlled parking, small playgrounds on each block, and community gardens.

The Bayshore Villas development represents several “firsts” for Puerto Rico. As the first mixed-income development in Puerto Rico, McCormack Baron Salazar had to educate the Department of Housing and the housing finance agency in mixed- finance transactions and forge new partnerships with island tax credit syndicators. MBS also had to earn the trust of public housing residents, many of whom felt overlooked in previous processes.

The property also incorporates design standards that are atypical to the Commonwealth – but it will not be the last. Other developers on the island, seeing the success of Bayshore and its sister property in the business district of San Juan (Renaissance Square), are following McCormack Baron Salazar’s lead and adopting several of the innovations of Bayshore Villas.

Location: San Juan, Puerto Rico
Developer: McCormack Baron Puerto Rico Developer, LLC (an affiliate of McCormack Baron Salazar, Inc.)