Honored to represent Ponce Paradise – Nos honra representar a Ponce Paradise

 

 

We are honored to have been selected to represent Ponce Paradise – a magnificent parcel in Ponce, Puerto Rico within the land of great history, arts, culture, energy, and elegance.   Due to the volume of messages our team has received from recent Puerto Rico publications in El Nuevo Día and La Perla del Sur, we humbly extend our gratitude for the passionate letters of support, hope, and mutual environmental awareness.  We share in the excitement for Ponce’s growth.   

Our dedicated team was recently commissioned by several Puerto Rican families that have been living in Ponce for generations.  At AG&T- Puerto Rico, we are a development and boutique brokerage firm and have active on the island for the over 25 years.  Together with Douglas Elliman’s Oceanfront International group, a leading National brokerage company, we have been entrusted to manage the sales and marketing for Ponce Paradise.  In order to honor, preserve and elevate Ponce’s unique resources, we sought the collaboration of a two internationally recognized architecture and land planning firms, Winstanley Architects & Planners and Land Design.

Together we have created some initial development concepts for a world class medical and tourism destination. Ponce Paradise is undoubtedly a grand and lofty vision that will necessitate the input from community, government, and other key stakeholders alike. We understand this is a long process but one that together can lead to the creation of a once in a lifetime iconic development.    

Our guiding principles for the conceptual drawings are: 

  1. to preserve and elevate Ponce’s unique resources with sustainable and eco-friendly land planning leaving over 60% of the site intact.
  2. to help maximize Ponce’s already existing 21st century infrastructure, airport, port, and convention center.
  3. to offer robust opportunities of beneficial economic prosperity with services catering to Puerto Rican communities and tourists alike
  4. to attract quality developers and investors with strong visions of sustainability and resilience to natural environmental forces
  5. to build upon a longstanding sense of community pride and appreciation for Ponce’s existing regality

The potential of Ponce Paradise is one that cherishes the past, respects the present, and paves the way for a new future.  We are humbled to be part of this vision.  

 

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Nos honra haber sido seleccionados para representar y mercadear para la venta a Ponce Paradise, una magnífica parcela privada en Ponce, una ciudad de gran historia, arte, cultura, energía y elegancia. Debido al volumen de mensajes que nuestro equipo ha recibido por las publicaciones recientes en los periódicos El Nuevo Día y La Perla del Sur, les extendemos nuestro agradecimiento por las apasionadas cartas de apoyo, esperanza y conciencia ambiental mutua.

Compartimos en el entusiasmo por el crecimiento económico de Ponce. Nuestro dedicado equipo fue contratado por varias familias puertorriqueñas que llevan décadas viviendo en la isla y en Ponce.  Nosotros en AG&T- Puerto Rico tenemos más de 25 años en Puerto Rico y estamos trabajando en colaboración con un grupo de corredores de los Estados Unidos – OceanFront International Group de Douglas Elliman y los arquitectos Winstanley Architects y Land Design.  

Este concepto inicial busca ofrecer una idea preliminar de como podría desarrollarse estos predios en Ponce resaltando la sostenibilidad, su proximidad a la facilidades de transportación y su potencial. Estamos claros que algunos de los conceptos iniciales se descartaran y otros se incorporaran. Siempre hemos estado abiertos a los comentarios que se nos han brindado y el deseo final es que se desarrolle algo que sea de beneficio para Ponce y por esto nos sentimos honrados de ser parte de esta visión.

Nuestros principios para el diseño conceptual generado son:

  1. Honrar, preservar y elevar los recursos únicos de Ponce con una planificación sostenible y ecológica donde se incorpora energía sostenible, cosechas en sitio para el uso directo e indirecto del desarrollo propuesto y dejando intactos mas del 60% de los predios en su totalidad.
  2. Por su localización única próxima al aeropuerto, puerto maritimo, centro de convenciones y playas únicas de Ponce, se desea continuar incentivando y darle uso adicional a estos grandes recursos
  3. Ofrecer oportunidades sólidas de prosperidad económica beneficiosa con servicios que atienden tanto a las comunidades puertorriqueñas como a los turistas.
  4. Atraer a desarrolladores e inversionistas de calidad con visiones sólidas de sostenibilidad y resiliencia a las fuerzas ambientales.
  5. Inculcar un sentido de orgullo y aprecio de comunidad por la rica historia y vida cultural de Ponce.

El potencial de Ponce Paradise es uno que aprecia el pasado, respeta el presente y prepara el camino para un nuevo futuro.

 

 

Saint Martin Making A Comeback

back Irma

Saint Martin is making a comeback. While there is still work to be done, this unflappable island is ready to welcome visitors with new infrastructure, revamped resorts, and unmatched natural beauty.  Saint Martin, the half-Dutch, half-French gem of the Leeward Islands, has been a popular vacation destination for Americans since the 1950s. Tragedy struck in September 2017, however, when the Category 5 Hurricane Irma raged over the island for a full eight hours. This was one of the worst-hit islands, and it’s estimated that more than 90 percent of the buildings were damaged; one-third were completely destroyed.

Most of the population is involved with tourism in some way, so residents, the European Union, and the World Bank knew it was crucial to put infrastructure back in place quickly to get evacuees out and supplies in. There have been people on the ground working tirelessly to get this beloved Caribbean destination back, slowly but surely, on its feet.

At this point, despite the largely completed work on infrastructure, only about half of the island’s pre-storm hotel capacity has been restored.   

Read More at https://www.travelandleisure.com/trip-ideas/island-vacations/saint-martin-sint-maarten-hurricane-recovery-new-resorts

Caribbean Hospitality Summit Draws Record Numbers

The Caribbean’s Hospitality Renaissance:

 

For decades, the Caribbean has been recognized as one of the world’s premier tourism destinations. Today, it is emerging as one of the most compelling regions for hospitality investment, infrastructure development, and long-term capital deployment. At the center of that transformation is Puerto Rico—a market whose financial renaissance is helping redefine investment across the Caribbean.

At AG&T, we have had the privilege of participating in that evolution for more than three decades.

As a Caribbean real estate development and capital advisory firm, our mission extends well beyond individual transactions. We have worked to strengthen the economic ties between Puerto Rico, the U.S. mainland, and the broader Caribbean by bringing together developers, lenders, institutional investors, hospitality brands, family offices, government agencies, and industry leaders. We believe that successful hospitality markets are built on relationships, collaboration, and confidence in long-term investment.

This philosophy has guided AG&T’s partnerships with organizations such as the Puerto Rico Builders Association, the Urban Land Institute, Bisnow, hospitality conferences, investment forums, and numerous public and private initiatives designed to showcase the Caribbean as a world-class destination for investment as well as tourism.

One such milestone was the Puerto Rico Builders Association’s conference, where AG&T organized and moderated a discussion on the future of development finance featuring senior executives from FirstBank, the Economic Development Bank of Puerto Rico, and Acrecent Financial. While the conversation centered on financing new construction, it reflected something much larger: Puerto Rico’s financial sector was entering a new era, creating opportunities not only for the island, but for hospitality and real estate investment throughout the Caribbean.

Looking back today, that conversation marked the beginning of a broader transformation.

Puerto Rico has emerged from years of fiscal restructuring with renewed financial stability, strengthened institutions, and a growing ecosystem of capital providers. Traditional banks have returned to construction lending, private credit has expanded, institutional investors are increasingly active, and billions of dollars in federal investment have accelerated infrastructure modernization. Together, these developments have created one of the strongest investment environments the island has experienced in decades.

The implications extend far beyond Puerto Rico.

Hospitality has always been one of the Caribbean’s most important economic engines. Across the region, demand for luxury resorts, branded residences, mixed-use destinations, marinas, wellness communities, and experiential travel continues to grow. Meeting that demand requires sophisticated capital markets, experienced development partners, and trusted financial institutions.

Puerto Rico’s financial resurgence is helping create that foundation.

As capital markets mature and investor confidence grows, the island increasingly serves as a gateway for institutional investment into the Caribbean. International hotel brands, private equity firms, family offices, lenders, and developers are viewing the region with renewed optimism, supported by stronger financial structures and improved access to capital.

At AG&T, we have worked to help build those connections.

Through partnerships with organizations such as Bisnow, the Urban Land Institute, the Puerto Rico Builders Association, and numerous hospitality and investment organizations, we have organized conferences, investor forums, educational programs, and networking events that connect mainland U.S. capital with Caribbean opportunities. These initiatives are designed not simply to promote projects, but to foster meaningful dialogue between investors, public officials, hospitality leaders, financial institutions, and developers.

Our objective has remained remarkably consistent: position Puerto Rico and the Caribbean as globally competitive destinations for investment, innovation, and sustainable economic growth.

The Caribbean hospitality sector is entering a defining period. Record tourism, expanding airlift, increasing demand for luxury accommodations, resilient infrastructure, and growing interest from global investors are reshaping the region’s development landscape. At the same time, public-private partnerships, innovative financing structures, and collaborative leadership are creating opportunities that would have been difficult to imagine only a decade ago.

Economic transformation does not occur in isolation. It is the product of sustained collaboration among governments, financial institutions, developers, investors, and industry organizations that share a common vision.

Puerto Rico’s financial renaissance is strengthening not only the island’s economy, but also the future of Caribbean hospitality.

At AG&T, we are proud to continue serving as a bridge between Caribbean opportunity and global capital—helping build the relationships that will shape the region’s next generation of hospitality and real estate development.

Puerto Rico Ready for Development

Ponce Paradise

A Beachfront Acre For $30K In An OZ? Welcome To Puerto Rico

Published by Deidra Funcheon, Bisnow Miami

Puerto Rico was already struggling from decades of fiscal mismanagement and had just declared bankruptcy over its $123B debt when it was hit by two hurricanes in September 2017 — only to run into a botched disaster response. The way some see it, though, rock bottom is behind Puerto Rico, and the island is in the early stages of an upswing. “Puerto Rico is setting an incredible pace for economic recovery,” said Brad Dean, CEO of Discover Puerto Rico, a destination marketing organization that promotes the commonwealth. “Airport arrivals are exceeding pre-Hurricane Maria levels, as are lodging revenues. Given the quick rebound, reinvestment in hotel product and tremendous potential for the island’s tourism industry, this is Puerto Rico’s time. From an investor’s perspective, there’s never been a better time to invest in the island’s tourism industry.”

Buildings and infrastructure are still being repaired and upgraded, and the government has instituted a full slate of tax incentives to lure investors, said AG&T Managing Partner Adam Greenfader, who advises clients from his base in Miami. “You can still acquire assets for 50 cents on the dollar,” he said. “Beachfront land in Puerto Rico today can still be acquired at $30K an acre.” Dean and Greenfader will be panelists at Bisnow’s Caribbean Hospitality & Tourism Summit Aug. 1. Puerto Rico’s economic spiral goes back decades. After World War II, it gave big tax breaks to manufacturers, and to cover for revenue shortfalls, issued more bonds than it could repay. In turn, it implemented austerity measures that did little except drive the population away. Its problems were exacerbated by that fact that it has no voting power in Congress.

Greenfader outlined some key developments toward a turnaround. Puerto Rico’s cash-strapped government has tried to lure investors with laws like Acts 20 and 22, passed in 2012 and designed so that people who move to the island pay little or no federal income tax, even on passive investments. Greenfader said this has attracted 250 to 500 families per year, including big names such as billionaire John Paulson.  Other incentives include one that lets people with tourism-related projects get back 40% or 50% of their acquisition costs.  

 

Development Land
80 Acres in Naguabo, Puerto Rico

 

Puerto Rico’s massive government debt is currently being sorted out by a federal oversight board. “The major bonds, COFINA and GO, have been renegotiated and the bondholders have been put into payment plans,” Greenfader said.  Since the 2017 hurricanes, federal disaster aid — including $1.4B authorized in June — has trickled in. Hotels damaged in the storms were forced to remodel or rebuild and are now offering better products at higher rates. Many are incorporating solar and microgrids to be resilient for the future. The storms raised the profile of Puerto Rico — one study found that prior to them hitting, about half of Americans hadn’t known the commonwealth was part of the U.S. Airport arrivals and tourism revenue have already set records this year. On top of this, Puerto Rico is the beneficiary of community development block grant funding, and 97% of the entire commonwealth — much of it beachfront — has been designated a qualified opportunity zone. “Puerto Rico never had a 1031 exchange, so from a tax perspective, it’s the first time it’s getting capital gains money,” Greenfader said.  

Lifeafar Investments Chief Financial Officer Cole Shephard, who will also be a panelist at the Bisnow event, said his Colombia-based company is already taking advantage of Puerto Rico’s investment climate, raising $16M in an opportunity fund to reposition a 61-room hotel. Shephard said Lifeafar, which started by offering real estate services to expats in Medellín, was drawn by the tax incentives and that the opportunity zone designation was a bonus. He is now doing due diligence on additional properties. “I see the sophisticated money chasing metro San Juan,” he said, suggesting that there is a lot of opportunity for small to mid-market projects outside of the city. Not everything in Puerto Rico is rosy. 

Development Land
29 Acres in Isabella, Puerto Rico

 

As the government has scrambled to generate revenue, sales tax was raised to 11.5%, pensions have been cut, college tuition increased and some 300 public schools closed. Critics have complained that wealthy investors have been protected while ordinary Puerto Ricans suffer. “The locals have had to carry the brunt of these austerity measures,” Greenfader acknowledged. “I’d understand completely, if I see a guy who’s a hedge fund manager with $500M earnings pay hardly any taxes, versus the regular guy paying 35% taxes who’s a salaried worker at Bacardi,” Shepherd said. But Shepherd added that conversations with Puerto Rican officials convinced him they have carefully calculated the tradeoff and found that luring private investment now will help island residents long-term, even though it may take years for the effects to be obvious.

Greenfader suggested that boosting tourism is a winning solution for both investors and residents. Because Puerto Rico since the Kennedy era has been focused on manufacturing, its tourism industry was relatively neglected. The industry now accounts for less than 7% of Puerto Rico’s gross domestic product. In other Caribbean islands, that number is typically between 30% and 80%. Dean’s destination marketing organization, Discover Puerto Rico, was established last year to actively promote tourism. Bisnow’s Aug. 1 Caribbean Hospitality & Tourism Summit will also include Puerto Rico Tourism Co. Executive Director Carla Campos, Hilton VP for Development Juan Corvinos Solans, Puerto Rico Builders Association President Ing. Emilio Colón Zavala and more. 

Event Ended On: Thursday August 1 2019

Puerto Rico’s Gets A Hyatt Regency

 

 

Governor Announces Puerto Rico’s First Hyatt Regency

The Weekly Journal Staff 6-4-19

Gov. Ricardo Rosselló announced that Gran Meliá Hotel was bought by Monarch Alternative Capital in partnership with Royal Palm Companies and Ambridge Hospitality.  Together they will rebrand and relaunch the hotel as the Hyatt Regency Grand Reserve. The governor announced that the developers are contemplating a 10-year master plan. This will include  six hotels in the Grand Reserve (Coco Beach) peninsula in Río Grande, of which three are expected to be opening by 2022. “Transactions such as these that are happening now validate that our commitment to tourism is a successful one, and there is a positive environment for investment,” Rosselló said at the 41st International Hospitality Industry Investment Conference by New York University (NYU). The governor added, “we have managed to streamline processes to grant tax benefits and permits, which proves that this administration maintains a bureaucratic battle so that the private sector may have better investment opportunities.”

New Project

The Hyatt Regency Grand Reserve Resort will have five new restaurants and will create roughly 200 new jobs. The average rate is expected to fluctuate by $300 per night. During his presentation, Rosselló revealed blueprints and mockups for the property. He stressed that Puerto Rico’s “fertile and positive” environment for investments in the hotel industry.  The Hyatt Regency Coco Beach Resort is part of a $120 million deal made possible through an agreement with the Puerto Rico Tourism Co. (PRTC), which granted tax credits conforming to the P.R. Tourism Development Act (Act No. 74-2010). Of the total investment, $100 million correspond to development costs to elevate the property to Hyatt’s luxury standards. The PRTC has been working on this business deal along investors for several months. PRTC Executive Director Carla Campos assures that Tourism is focused on increasing the island’s hotel inventory in the short term, emphasizing Puerto Rico’s “competitive and incomparable” investment advantages.

After damages caused by Hurricane Maria in 2017, Monarch Alternative Capital, which already had interests in the peninsula, seized the opportunity to acquire the Gran Meliá Resort, with 486 rooms, 135 bedroom units, and 14 more terrain acres. In order to proceed with the transaction, Monarch made a conjoint agreement with Royal Palm Companies and Ambridge Hospitality. According to Campos, this project makes part of a “long-term master plan” that seeks to add 2,500 new rooms to the island’s hotel inventory and 1,500 new jobs. “This will result in a total investment of roughly $1.5 billion, when the six hotels are finished,” she added. Both the governor and the PRTC executive director stressed Puerto Rico’s strategic position as a connector between the United States and Latin America and the island’s structural reforms, which they claim positions Puerto Rico as the most competitive U.S. jurisdiction for hotel investment.

The officials also highlighted the investment tools that provide a combination of tax benefits at state level, in addition to the competitive advantage of being almost entirely eligible for certain benefits and exemptions under the Opportunity Zones incentive as included in the U.S. Tax Cuts and Jobs Act of 2017. 

For more information on Caribbean hospitality projects, contact AG&T. 

The New Reality of Climate Risk: How the Insurance Industry Is Reshaping Caribbean Development

The New Reality of Climate Risk: How the Insurance Industry Is Reshaping Caribbean Development

The New Reality of Climate Risk: How the Insurance Industry Is Reshaping Caribbean Development

See Video
The New Reality of Climate Risk: How the Insurance Industry Is Reshaping Caribbean Development

 The Caribbean has always lived with hurricanes.What has changed is not simply the storms themselves—but how the insurance and capital markets evaluate risk.

Following the unprecedented destruction caused by Hurricanes Irma and Maria in 2017, insurers, reinsurers, catastrophe modelers, lenders, and institutional investors fundamentally changed the way they assess climate exposure throughout the region.

In this interview with AM BestTV during the RMS Exceedance Conference in Miami, Adam Greenfader, Chairman of AG&T, discusses how these historic storms marked a turning point for Caribbean real estate, hospitality, and infrastructure development.

A New Era of Catastrophe Modeling

One of the most significant changes has occurred behind the scenes.

Insurance companies are no longer relying solely on historical storm data to price risk.

Today’s underwriting increasingly incorporates sophisticated catastrophe models, high-resolution climate data, predictive analytics, flood modeling, storm surge analysis, and forward-looking climate scenarios.

These tools allow insurers and reinsurers to evaluate individual assets with far greater precision than ever before.

As a result, climate risk is becoming increasingly measurable—and increasingly influential in investment decisions.

The Rules Are Changing

The conversation highlighted an important reality for developers.

The standards used to design projects twenty years ago may no longer be sufficient for the decades ahead.

Climate scientists continue to observe stronger hurricanes, more rapid storm intensification, heavier rainfall, higher storm surges, and storms that maintain destructive strength for longer periods.

While the official Saffir-Simpson Hurricane Wind Scale currently ends at Category 5, researchers have begun discussing whether future storms may warrant an additional classification as wind speeds continue to exceed historical benchmarks.

Whether or not a formal Category 6 is ever adopted, the message for developers is already clear.

Projects entering planning today should anticipate more demanding environmental conditions over their operating lives.

Resilience as an Investment Strategy

The insurance industry is increasingly rewarding resilient design.

Developments that incorporate stronger building envelopes, elevated finished-floor elevations, impact-resistant materials, redundant utility systems, flood mitigation, backup power, and nature-based resilience strategies are becoming more attractive to insurers, lenders, and institutional investors.

In many cases, these investments can improve insurability, reduce long-term operating costs, and enhance asset value.

Resilience is no longer viewed simply as a construction expense. It has become part of the financial equation.

 

Beyond Building Codes

One of the key lessons emerging from the discussion is that simply meeting today’s building code may not be enough.

Developers increasingly need to ask a broader question:

How will this project perform thirty or fifty years from now?

Forward-thinking owners are designing beyond minimum standards by considering higher wind loads, longer-duration storms, greater rainfall intensity, coastal flooding, and the increasing importance of energy independence and infrastructure redundancy.

Those decisions are becoming critical not only for public safety but also for financing, insurance availability, and long-term investment performance.

Implications for the Caribbean

For island economies that depend heavily on tourism and hospitality, these changes have profound implications.

Hotels, resorts, marinas, airports, residential communities, and critical infrastructure must increasingly demonstrate their ability to withstand future climate conditions.

Institutional investors, lenders, and insurers are placing greater emphasis on resilience during underwriting and due diligence.

Projects that fail to adapt may face higher insurance costs, more restrictive financing terms, or reduced investor interest. Conversely, resilient projects are increasingly viewed as lower-risk, more durable investments capable of generating stronger long-term returns.

AG&T’s Perspective

At AG&T, we believe the insurance industry is helping drive one of the most important transformations in Caribbean development.

By redefining how climate risk is measured and priced, insurers are encouraging developers to rethink not only how projects are built—but how they are planned, financed, and operated over their entire lifecycle. The future of Caribbean real estate will not be defined solely by beautiful architecture or exceptional locations. It will be defined by resilience.

Developers who embrace higher design standards, smarter infrastructure, nature-based solutions, and long-term climate adaptation will be better positioned to attract capital, secure insurance, and create projects that endure for generations.

 

The conversation is no longer about recovering after the next storm. It is about building communities capable of thriving despite them.

From Ideas to Action: Helping Rebuild Puerto Rico Through ULI Advisory Services

From Ideas to Action: Helping Rebuild Puerto Rico Through ULI Advisory Services

 

 

Thought leadership is important…But real leadership is measured by action.

Following the catastrophic devastation caused by Hurricane Maria in 2017, Puerto Rico faced one of the greatest rebuilding challenges in its modern history. Communities across the island were confronted not only with repairing damaged infrastructure and housing, but with a much larger question:

How do we rebuild stronger than before?

Rather than simply discussing resilience from the conference stage, AG&T joined a multidisciplinary team of national experts through the Urban Land Institute (ULI) Advisory Services Program to help answer that question.

 

 

Supported by The Kresge Foundation, ULI Southeast Florida/Caribbean, Alvarez-Díaz & Villalón, and the Puerto Rico Builders Association, the Advisory Services Panel traveled to the Municipality of Toa Baja to work directly with local government, business leaders, community organizations, and residents to develop a practical roadmap for long-term recovery and resilience.

Turning Expertise into Action

ULI’s Advisory Services Panels are among the organization’s highest forms of professional service.

Rather than serving as conferences or academic exercises, these panels assemble nationally recognized experts in planning, architecture, engineering, finance, economic development, housing, resilience, public policy, and real estate to solve complex urban challenges.

For one intensive week, the team immersed itself in Toa Baja meeting with local stakeholders, touring neighborhoods, evaluating damaged infrastructure, reviewing economic data, and identifying opportunities that could strengthen the municipality for generations to come.

For AG&T, organizing and participating in the panel reflected a core belief:

Knowledge creates value only when it leads to action.

The Challenge

Among Puerto Rico’s municipalities, Toa Baja was one of the hardest hit by Hurricane Maria.

The municipality sustained more than $1.3 billion in damages, with widespread impacts to housing, businesses, transportation infrastructure, utilities, and public facilities.

Its geographic location also made it particularly vulnerable to future flooding, storm surge, sea-level rise, and other climate-related hazards.

The challenge extended well beyond reconstruction.

The objective was to create a strategy for a safer, stronger, and more economically resilient community.

Looking Beyond Recovery

The panel’s recommendations extended far beyond repairing damaged buildings.

Instead, the team examined how resilience could become a catalyst for economic development.

Among the key areas explored were:

  • Identifying Toa Baja’s long-term competitive advantages within Puerto Rico and the Caribbean.

  • Strengthening economic drivers capable of creating sustainable employment.

  • Improving land use planning to reduce exposure to flooding and future storm events.

  • Integrating resilience into future housing and commercial development.

  • Leveraging public-private partnerships to accelerate investment.

  • Creating more efficient land development processes.

  • Expanding access to resilient housing for residents across all income levels.

  • Aligning reconstruction efforts with long-term economic growth rather than short-term recovery.

The panel also examined how natural systems, coastal conditions, transportation networks, and infrastructure investments could work together to create a more resilient municipality.

 

Resilience as Economic Development

One of the panel’s most important conclusions was that resilience should not be viewed simply as disaster preparedness.

Well-designed resilient communities are also stronger economies.

Investments in flood mitigation, resilient infrastructure, modern utilities, housing, transportation, environmental restoration, and thoughtful land planning improve quality of life while making communities more attractive for residents, businesses, investors, and employers.

Today, that philosophy has become increasingly accepted throughout the development industry.

Institutional investors, lenders, insurers, and governments now recognize resilience as a critical component of long-term value creation.

From Recommendations to Lasting Impact

Although the Advisory Services Panel lasted only one week, its influence extended well beyond the final presentation.

The report continues to serve as a strategic resource for municipal planning, resilience initiatives, economic development discussions, and future investment opportunities.

More importantly, it demonstrated what can be achieved when the public sector, private industry, nonprofit organizations, and community leaders collaborate toward a common objective.

The challenges facing island communities require integrated solutions.

No single organization can solve them alone.

AG&T’s Commitment

For AG&T, participating in the Toa Baja Advisory Services Panel reflects the type of work we believe matters most.

Our role extends beyond advising individual developments. We are equally committed to helping strengthen the communities in which those projects exist.

Over the years, AG&T has contributed to numerous initiatives involving the Urban Land Institute, the Puerto Rico Builders Association, universities, government agencies, institutional investors, and nonprofit organizations, all with the shared objective of advancing sustainable economic development throughout Puerto Rico and the Caribbean.

Whether the challenge involves resilience, housing, hospitality, infrastructure, climate adaptation, or economic competitiveness, we believe meaningful progress begins with collaboration.

Because rebuilding communities is about more than replacing what was lost. It is about creating places that are stronger, safer, more prosperous, and better prepared for the future.

That is the kind of work that creates lasting impact.

Download the complete ULI Advisory Services Panel Report for the Municipality of Toa Baja to explore the team’s recommendations for building a more resilient and economically vibrant community.

Investing in the Next Generation of Caribbean Real Estate Leadership

Thought leadership

Investing in the Next Generation of Caribbean Real Estate Leadership

 

At AG&T, we believe that one of the most important investments we can make is not in a development project, but in the people who will shape the future of our industry.

For many years, AG&T has proudly supported the University of Miami’s Master of Real Estate Development + Urbanism (MRED+U) Program by mentoring graduate students, providing internship opportunities, and exposing future industry leaders to the realities of real estate development throughout the Caribbean.

Our commitment goes well beyond offering a semester internship.

Each year, Adam Greenfader, Chairman of AG&T, personally mentors a graduate student, providing direct exposure to every aspect of the development process, from market analysis and capital structuring to hospitality development, public-private partnerships, investment strategy, and project execution. Interns are encouraged to participate as members of the AG&T team, working alongside developers, investors, architects, hotel operators, government officials, and financial institutions on active assignments across the Caribbean.

Many have had the unique opportunity to travel throughout the region, gaining firsthand experience in destinations including Puerto Rico, Sint Maarten, the Dominican Republic, and other Caribbean markets. Rather than learning solely through case studies, they experience the complexities of island development, hospitality investment, infrastructure planning, and capital markets in real time.

This philosophy is deeply personal.

Adam Greenfader’s own professional journey was profoundly influenced by his education in the Master of Real Estate Development program at the University of Southern California. The interdisciplinary approach of combining finance, planning, design, development, and public policy provided the foundation for a career spanning more than three decades and over fifty-five development projects throughout the Caribbean.

Having benefited from exceptional mentors early in his career, Adam has made it a priority to provide similar opportunities for the next generation.

Over the years, AG&T interns have gone on to build successful careers with leading development companies, investment firms, hospitality organizations, lenders, and advisory firms throughout the United States and the Caribbean. Several have remained active collaborators with AG&T long after completing their internships, reflecting relationships that extend well beyond a single academic semester.

The internship program is also a reflection of AG&T’s broader mission.

As a Caribbean real estate development and capital advisory firm, we believe the future of the region depends on cultivating talented professionals who understand both the global capital markets and the unique opportunities and responsibilities of developing within island economies. Technical skills are essential, but equally important are curiosity, integrity, collaboration, cultural awareness, and a long-term commitment to creating places that strengthen communities.

Each new class brings fresh perspectives, diverse backgrounds, and innovative ideas that challenge all of us to think differently about the future of real estate.

This year’s University of Miami MRED+U cohort is no exception.

We are excited to welcome another outstanding group of graduate students to AG&T. Representing a remarkable diversity of professional experiences, cultures, languages, and academic disciplines, they embody the global perspective that is increasingly defining our industry. Their curiosity, ambition, and willingness to engage with complex development challenges give us tremendous optimism for the future of Caribbean real estate and hospitality.

The exchange of ideas works both ways. While we hope to share our experience across the Caribbean, our interns continually bring new thinking, emerging technologies, and fresh approaches that enrich our own work. Mentorship is not simply about teaching—it is about learning together.

To this year’s class: welcome to AG&T.

We look forward to working alongside you, challenging you, learning from you, and helping you build the foundation for what we hope will be long and meaningful careers in real estate development.

The future of our industry is in good hands.

Caroline Cozzi – See Linkedin Profile 

Francisco Masso –  See Linkedin Profile

Xiaoyun Jiang 

 

If you are interested in joining our internship program contact us. 

 

Creating a Forum for Caribbean Thought Leadership: The First ULI Caribbean Roundtable

Creating a Forum for Caribbean Thought Leadership: The First ULI Caribbean Roundtable

 

Great ideas rarely emerge in isolation. They are born through conversation, collaboration, and the willingness to bring together people with different perspectives to solve shared challenges.

That belief inspired the launch of the ULI Caribbean Roundtable, an initiative created to establish a regular forum where leaders from across the Caribbean real estate, hospitality, finance, planning, and development industries could exchange ideas and discuss the opportunities shaping the region’s future.

Chaired by Adam Greenfader, Chairman of AG&T and then Chair of the ULI Southeast Florida/Caribbean Council, the inaugural Roundtable brought together a diverse group of developers, investors, architects, financial advisors, and industry leaders committed to advancing thoughtful, sustainable growth throughout the Caribbean.

Among the featured speakers were:

  • Emilio Colón Zavala, President, Puerto Rico Builders Association

  • Ricardo Álvarez-Díaz, Founder and CEO, Álvarez-Díaz & Villalón (AD&V)

  • Robbie Karver, Ernst & Young (EY), Hospitality Advisory

The event was made possible through the collaboration of the Urban Land Institute Southeast Florida/Caribbean District Council and its outstanding leadership team, whose commitment helped establish what would become an ongoing series of conversations focused on the future of Caribbean development.

A Region Entering a New Chapter

The discussion took place during a pivotal moment for the Caribbean.

Only two years after Hurricanes Irma and Maria, the region was rebuilding with renewed optimism while simultaneously attracting increased interest from institutional investors, global hotel brands, and international developers.

Despite recent challenges, the panel shared a remarkably optimistic outlook.

  1. Tourism fundamentals remained strong.
  2. Airlift continued to expand.
  3. Hotel occupancy was recovering rapidly.
  4. Luxury travel demand remained resilient.
  5. Most importantly, investors continued to believe in the long-term strength of the Caribbean hospitality market.

 

Key Themes That Continue to Shape the Region

Several observations made during the Roundtable remain remarkably relevant today.

Access Drives Investment

The panel agreed that air connectivity remains one of the most important drivers of tourism and hospitality investment.

Destinations with strong international airlift continue to outperform, creating greater confidence among developers, lenders, hotel operators, and institutional investors.

The Caribbean Is Maturing

Rather than being viewed as a collection of isolated resort destinations, the Caribbean has increasingly evolved into a sophisticated investment market offering diverse opportunities across hospitality, branded residences, mixed-use development, marinas, logistics, and infrastructure.

This maturation has attracted increasingly sophisticated sources of capital seeking long-term investment opportunities.

Puerto Rico’s Competitive Position

The discussion also highlighted Puerto Rico’s unique advantages.

Federal disaster recovery funding, Opportunity Zones, tourism incentives, and the island’s attractive tax framework were already positioning Puerto Rico for renewed investment.

Many of those early observations have since materialized, with Puerto Rico experiencing record tourism performance, significant hospitality investment, and growing institutional interest.

Resilience Creates Value

One of the most encouraging conclusions reached during the Roundtable was that resilience does not necessarily reduce investment returns.

Developers increasingly recognized that resilient design, stronger construction standards, and sustainable planning can enhance long-term asset performance while reducing future risk.

Today, resilience has become a central component of hospitality development throughout the Caribbean.

Building More Than Conversations

Looking back, the greatest achievement of the Caribbean Roundtable was not any single discussion.

It was the creation of an ongoing community.

Over the following years, the Roundtable welcomed leaders from organizations including Hilton, CBRE Hotels, IDB Invest, Discover Puerto Rico, Apple Leisure Group, Sculptor Real Estate, major financial institutions, developers, architects, government agencies, and global investors.

Each conversation expanded the dialogue around the issues shaping Caribbean development—from hospitality and branded residences to climate resilience, institutional capital, infrastructure, manufacturing, tourism, and public-private partnerships.

AG&T’s Perspective

For AG&T, organizing the Caribbean Roundtable reflected a long-standing philosophy.

Economic development begins by bringing people together.

Throughout our history, we have sought to connect government leaders, investors, developers, hotel brands, universities, planners, architects, financial institutions, and entrepreneurs around one common objective: creating a stronger, more resilient Caribbean.

The Roundtable became one of many platforms through which those conversations could occur.

Today, those discussions continue to influence the way we think about hospitality, resilience, investment, and sustainable development across the region.

Because while individual projects may define skylines, it is collaboration that ultimately shapes the future of communities.

ULI Panel To Advise Puerto Rico on Hurricane Resilience

The Urban Land Institute to Advise Toa Baja, Puerto Rico on Hurricane Preparedness and Resilience

POSTED ON NOVEMBER 29, 2018 BY JUSTIN ARNOLD

https://americas.uli.org/advisory-service-panels/toa-baja-puerto-rico-resilience-advisory-services-panel/

Nationally Renowned Panel of Land Use and Urban Planning Experts to Visit Area December 3-7.

For more information contact Adam Greenfader at adam@agandt.net.

WASHINGTON (November 29, 2018) – A group of nationally renowned land use, real estate, and urban planning experts representing the Urban Land Institute (ULI) will be providing strategic recommendations and advice next week to the municipality of Toa Baja, Puerto Rico, on how to best improve preparedness for extreme weather events and ensure all residents benefit from investments in resilience.

ULI is a global, multidisciplinary real estate organization whose work is driven by 42,000-plus members dedicated to responsible land use and building thriving, sustainable communities. The ULI representatives, convened through ULI’s renowned Advisory Services program, will be visiting Toa Baja, Puerto Rico from Sunday, December 3 through Friday, December 7. The panel will provide strategic advice on resilience, economic development, housing, and land use protocols. Items to be addressed include:

  • implementing land use processes to mitigate environmental risks,
  • securing access to partnerships and investment opportunities, and
  • leveraging competitive economic advantages and drivers to ensure all residents benefit from improved resilience.

During the week, the panelists will tour the study area and spend two days meeting and interviewing stakeholders from the public and private sectors, including Toa Baja Municipality leadership and Mayor “Betito” Marquez. After carefully analyzing the site and completing the interviews, the panelists will then frame their recommendations and draft a presentation that will be made to the public at the end of the visit.

 

The panel’s upcoming visit was initiated when the Urban Land Institute Advisory Services team was invited by ULI SE Florida/Caribbean, Puerto Rico’s Builder’s Association and the municipality of Toa Baja leadership in late August 2018 to discuss the opportunity to provide technical assistance to enhance the community’s economic and climate resilience. The team received context of Hurricane Maria and Irma’s impacts as well as a guided tour of areas the municipality identified in need of reinvestment.

“This is a unique opportunity to showcase a community that represents a microcosm of the entire Island of Puerto Rico,” said ULI Foundation Governor and ULI Puerto Rico Co-Chairman Ricardo Alvarez-Diaz, who is chief executive officer and president of Alvarez-Diaz & Villalon. “Our goal is to take the panel’s recommendations and implement them not only in Toa Baja but throughout the whole island.”

The chairman of the panel is ULI Life Trustee James DeFrancia, president of community development at Lowe Enterprises in Denver, Colorado. “We are excited to bring the expertise of our members to Toa Baja,” DeFrancia said. “The strength of the Advisory Services program lies in ULI’s unique ability to draw on the substantial knowledge of members representing all aspects of the real estate industry. The independent views of the panelists bring a fresh perspective to land use challenges. The advisory services program is all about offering creative, innovative approaches to community building.”

DeFrancia will be joined on the panel by Sarah Sieloff, executive director, Center for Creative Land Recycling, Oakland, California, who will serve as vice chairman, and panel members Michael Bloom, department manager, sustainability practice, R.G. Miller Engineers, Inc, Houston, Texas, Trini Rodriguez, principal, ParkerRodriquez, Inc., Alexandria, Virginia, Thomas Roth, principal, Grass River Property, Coconut Grove, Florida, Don Edwards, chief executive officer and principal, Justice & Sustainability Associates, Washington, D.C., Chris Calott, LaLanne Chair – R.E. development, architecture and urbanism and associate professor of architecture, University of California, Berkley, California, Jessica Boehland, senior program officer, environment, The Kresge Foundation, Detroit, Michigan, and Bob van der Zande, director of residential markets, City of Amsterdam, Metropolitan Region.

The assignment for Toa Baja is part of a series of advisory panels being supported by a generous grant from The Kresge Foundation to advance the Institute’s promotion of urban design and development practices that are more resilient and adaptable to the impacts of climate change. With Kresge’s support, ULI is leveraging the substantial expertise of its members to provide guidance on community building in a way that helps to preserve the environment as well as boost prosperity and foster a high quality of life.

Now in its 71st year, ULI’s globally renowned advisory services program assembles experts in the fields of real estate and land use planning to participate on panels worldwide, offering recommendations for complex planning and development projects, programs and policies. Panels have developed more than 700 studies for a broad range of land uses, ranging from waterfront properties to inner-city retail.

Past sponsors of ULI advisory service panels include: federal, state and local government agencies; regional councils of government; chambers of commerce; redevelopment authorities; private developers and property owners; community development corporations; lenders; historic preservation groups; non-profit community groups; environmental organizations and economic development agencies.

NOTE TO REPORTERS AND EDITORS: Members of the public and media are invited to a reception on Monday, December 3rd, from 5:30 pm – 7:00 pm at the Centro Las Dos Fuentes, 867 Carr Rio Hondo, Toa Baja, PR. The panel will provide its recommendations at a public presentation on Friday, December 7th at 9:00 am at the Centro Comunal Rafael “Pipo” Negron Calle Aetria Ingenio in Toa Baja, Puerto Rico.

About the Urban Land Institute
The Urban Land Institute is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the institute has more than 40,000 members worldwide representing all aspects of land use and development disciplines.

 

 

Sponsor thanks:

 Kresge Foundation, ULI Southeast Florida,  Puerto Rico Builders Association.

For more information: adam@agandt.net