Business View Caribbean | July 2020

40 BUSINESS VIEW CARIBBEAN JULY 2020 million and moving forward. We do mainly residential housing and we also have a joint venture with a consortium group to do a lot of recovery work for the federal government. Last year, we worked on 23,000 houses that were damaged by Hurricanes Irma and Maria, under the STEP program, with repairs up to $15,000. Right now, we are one of four Construction Management companies, and the only fully local JV, that have a contract with the local Department of Housing, using CDBG-DR funds, to repair up to $60,000, and to demolish and reconstruct new homes up to $250,000 in the northeast part region of Puerto Rico, for families whose houses were damaged by Hurricanes Irma and Maria in September 2017.” Being a successful business for 48 years presents a distinct competitive edge of its own, in addition to F&R’s strong economic base and continuity with its owners. “If we did a building for you 10 years ago, we’ll probably be doing a building for you again today,” says Ángel. “And