Hurricane Maria caused “apocalyptic” devastation, as one news report put it, in Puerto Rico and other parts of the Caribbean. And, even more than two months later, thousands of people are still without power and clean drinking water—and, this may be the case for months to come.
Because of the extent of the damage, many in Puerto Rico and the Caribbean are still faced with cleaning up the damage and destruction. Only once the areas are cleaned up and stabilized can the long process of rebuilding begin. But, getting to that point could take months.
Seacoast Construction founder George Abadie has a few suggestions for anyone interested in rebuilding on these islands.
How can investors or developers get involved with the rebuilding of Puerto Rico or the Caribbean?
These areas are ravaged. After the clean-up efforts are done, rebuilds will vary based on the proximity to building resources. Considering these are islands, the ports will be an important point of entry where I believe the building will start. It will then spread from there. Power and utilities are another import factor, and once the government decides what areas to restore first, more rebuilding can occur. Based on this, there will be numerous opportunities to rebuild in these areas.
What isneeded to start the rebuild? How soon can you break ground? What is needed in advance?
If the government is flexible and allows private businesses to bring in and start using engineers and architects as soon as possible, in lieu of going through a bureaucratic permitting process, it can streamline the cleanup and rebuilding processes. The government needs to be flexible during the rebuild, and developers must be responsible in utilizing resources and getting the process of rebuilding .
We are already working with clients who are looking to establish a presence in Puerto Rico as the island continues to focus on rebuilding. If you’re looking to get involved in building in the islands, give us a call today.
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