Caribbean Business

03/15/2007
Vol.: 35 / No. 10
Page: 38

Chardón Avenue site of $100 million upscale apartment complex
Two unique 26-story towers to begin construction this year; Prices on 160 units range from $600,000 to $3 million
By JOSE L. CARMONA

At a $100 million investment, local developing firm Quantum Metrocenter Corp. will begin construction of Quantum Metrocenter, a twin-tower upscale apartment complex to be built on Chardón Avenue in Hato Rey beginning the third quarter of this year.

The mixed-used project will also include 11,000 square feet of commercial space on the first floor of the multilevel parking structure.

The apartment complex, which begins its presale later this month, will feature two 26-story cylindrical towers of 80 units each on what is now the parking lot between the main BBVA building and the Federico Degetau Federal Building on Chardón Avenue.

Prices will range between $600,000 and $3 million, depending on the model. There will be several models available ranging between 1,900 square feet and 5,000 square feet of living space, including four subpenthouses and eight, two-level penthouses. Basic units will have two bedrooms convertible to three bedrooms and two bathrooms.

Local architectural firm Sierra Cardona & Ferrer designed the apartment complex, which the developing company hopes will become a landmark in Hato Rey’s Golden Mile sector because of its one-of-a-kind, cylindrical-shaped twin towers.

“The cylindrical shape of Quantum Metrocenter will distinguish it from other boxy, unappealing structures in town,” expressed Quantum Metrocenter Corp. Project Manager Robert Arthur.

According to Arthur, the project will feature details similar to those found in New York-type structures such as three elevators per tower that will provide private access to each unit and an area for concierge and valet parking services for residents and guests.

Available recreational facilities will include free membership for one year to a spa and health center, an indoor digital golf simulator where famous golf courses will be available through digital inputs, a mini theater and multimedia room, activity rooms and a pool, Jacuzzi and sauna in a solarium with bar and deli services.

The developing firm is still negotiating with a local banking institution that will provide the construction financing as well as the permanent financing for the individual units, as well as the general contractor in charge of the construction. Delivery of the first units is slated for summer 2009.