One Developer’s Nine-Figure Plan to Build the Palm Beach of Puerto Rico
Juniper Capital’s Carter Redd has a vision for a master planned community that will include a 100-acre organic farm, the island’s first-ever Auberge Resort with branded residences, an 18-hole golf course and a slew of amenities where little currently exists.
A rendering of an Auberge-branded villa at Moncayo.
Source: MoncayoAs it stands now, the small city of Fajardo is a nature-rich oasis just 30 miles east of San Juan on Puerto Rico’s coast, with marine reserves and a bioluminescent bay. It’s also home to some 30,000 locals, a gateway to El Yunque National Forest and a hub for Puerto Rico’s wealthiest denizens, though usually they’re just passing through on their way to somewhere else.
In 2027, when developer Carter Redd realizes part of a vision for a master planned community and tourism enterprise there called Moncayo, he hopes these deep-pocketed passersby will have reason to stay. The project he’s building will sprawl across a 1,100-acre parcel of forested coastline in eastern Puerto Rico and will include 400 residences—all $3 million and up—and a splashy Auberge Resort. It could be the Palm Beach of Puerto Rico, a lush new home (or second home) for the global rich that has everything a jet-setter could want all in one place.