La Casa II, 225 senior apartments in Santurce, files for early review
El Nuevo Día (elnuevodia.com) profiled the founder and chief executive of Putnam Bridge on October 26, 2026, tracing the company from Ciudadela in Santurce to a marina in Fajardo and solar power in Salinas. The executive told the outlet that La Casa, the company's building for residents aged 55 and over next to Ciudadela, has 151 apartments and a 20-year waiting list, and that La Casa II, across the street, is another $300 million investment with 225 more apartments.
Where La Casa II stands
A project filed as La Casa 2, a mixed-use building of housing for older residents with shops at 1510 Avenida Juan Ponce de León in Santurce, has a construction consultation with the permits office, filed October 7, 2026 and marked incomplete (case 2026-703155-CCO-016813). The consultation is an early review that comes before a construction permit, and the project has no construction permit for the new building yet.
The site is being cleared. The permits office approved the demolition of the existing structures at 1508 and 1510 Avenida Ponce de León on July 7, 2026, the one at 1508 a building of seven levels, and of a building at 610 Calle Belaval on September 24, 2026. An infrastructure recommendation for the project was approved on July 28, 2026.
Prices at Ciudadela
Ciudadela has drawn criticism over rising property values and accusations of gentrification, the outlet reported, and the executive rejects both. He told the outlet that 3,000 new investors cannot displace a population of 3.2 million.
Inside the complex, prices have climbed since the company arrived in 2012. Sale deeds recorded at the Ciudadela condominium over the past 12 months carried a median price of $585,000, about three times the $191,520 median of the deeds recorded there from 2012 to 2014. The units sold differ in size and tower between the two periods, so the median tracks the mix of units as well as their prices.
