March 2, 2011 — Beverly Hills, CA-based Alta Vista Companies recently announced a joint venture for the development of a luxury JW Marriott Hotel in Rio Grande, Puerto Rico. The proposed JW Marriott Coco Beach Resort will consist of 197 guestrooms and an additional 218 “common membership interests” condo-hotel suites to be developed on an oceanfront parcel contiguous to the resort hotel facilities. Additionally, 63 vacation ownership units will be constructed on a beachfront portion of the site.
The facilities will be located on a 27.2 acre oceanfront site within the 1,000-acre Coco Beach Golf & Country Club resort in Río Grande, Puerto Rico, about 25 miles east of San Juan. The waterfront site location provides extensive views of the Atlantic Ocean and the Caribbean National Rain Forest of El Yunque. Hotel facilities and amenities are planned to include 110,782 square feet of main hotel building space (9,723 square feet for lobby, 6,370 square feet for casino and 92,047 square feet for BO-H), 17,775 square feet for a spa building, 2,375 square feet for a pool grill, 106 square feet for a recreational pavilion, and 340 square feet for an entry gate house.
According to Steve Muehler, President of Alta Vista Companies, hotel guests will have access to the EXISTING Coco Beach Golf & Country Club located within the resort. The golf and country club facilities feature 36 holes of championship golf and 46,000 square foot clubhouse with meeting facilities, restaurant and lounge. PGA Style designed Golf course will be a full 36-hole of championship golf course.
About Alta Vista Companies:
Established in 2009, Alta Vista International Real Estate Fund I was conceived with the idea of providing a low risk high reward participation through a diversified approach to balancing both value and international real estate growth. This strategic focus remains its guiding principle, with continued analysis of countries, property markets, and the portfolios and management of individual companies. Capital appreciation is a primary focus, with income secondary.