Real Estate Development · Puerto Rico & Rhode Island
Building What’s Next, Together
Torrado Development plans, structures, and delivers real estate and infrastructure-linked projects with expertise in public-private partnerships, project finance, entitlements, and execution.
2,183+
$1.7B+
in completed projects
housing units delivered
Years Operating
PR + RI
28+
active markets
About the firm
Torrado Development is a real estate development firm specializing in affordable housing, mixed-use communities, single-family residential development, and port-related planning. Since 1997 the firm has worked in Puerto Rico as principal, partner, and consultant on assignments requiring financial rigor, careful planning, and execution discipline.
In 2017 the company expanded operations into Rhode Island, adding residential and port-related development. Across both markets, Torrado Development has built a reputation for handling projects with layered financing, public-sector coordination, and long development timelines.
A defining strength is the ability to align private execution with public-sector requirements — navigating entitlements, incentives, and institutional coordination while keeping projects commercially grounded and moving forward.1997, founded in Puerto Rico
A development partner built for complexity
Our History
Three Decades of Building
Torrado Development's track record is defined by firsts. The first LIHTC project in Puerto Rico, the largest in the nation, and a consistent pattern of taking on complex, multi-layered assignments that require a rare combination of financial, regulatory, and construction expertise.
28+
Years in Operation
2,183+
Housing Units Delivered
$1.7B+
In Completed Projects
1997
Founded in Puerto Rico
Torrado Development begins operations in Puerto Rico, establishing its foundation in affordable housing and public-private development partnerships. Rafael F. Torrado sets out to build a firm capable of taking on the most complex assignments in the market.
Puerto Rico Operations Begin
First Major Milestone
First LIHTC Project in Puerto Rico
Rafael Torrado pioneers Low-Income Housing Tax Credit development on the island, a landmark achievement that opens entirely new financing pathways for Puerto Rican housing development and establishes the firm as a leader in affordable housing finance.
National First
National Record
Largest LIHTC Project in the United States
Torrado Development delivers the largest Low-Income Housing Tax Credit project in the nation, valued at $133,890,000. This achievement demonstrates the firm's capacity to execute at an extraordinary scale and cements its reputation as a top-tier affordable housing developer.
$133,890,000 Project Value
Execution Record
400 Units Delivered in 24 Months
Completed 400 residential units in Puerto Rico in just two years, establishing the firm's reputation for construction management speed, delivery discipline, and the ability to coordinate large-scale residential projects under tight timelines.
Completed Projects
2,183+ Housing Units Delivered Across Puerto Rico
Across completed communities including Vistas del Rio (418 units), Villa Centroamericana (384 units), Sierra Bayamon (365 units), Jardines de Mayaguez (310 units), and Terrazas del Cielo (210 units), Torrado Development builds a track record of large-scale residential delivery across Puerto Rico.
Global Partnerships
Joint Ventures with Global Port Leaders
Rafael Torrado leads a joint venture with DP World, the 3rd largest port operator in the world, and separately with Inchcape Shipping and Seaport Asia, for master-planned Port and Special Economic Zone development. These partnerships signal the firm's expansion into large-scale infrastructure and logistics-linked development.
DP World · Inchcape Shipping · Seaport Asia
2017
Rhode Island Expansion
Torrado Development extends operations into Rhode Island, beginning work on the Port of Providence Container Terminal, the Flynn Elderly Community, and Crompton Meadows, a luxury single-family residential development in Coventry. The firm now operates across two active markets.
Rhode Island Operations Begin
Active Initiative
Community-Based Relief Housing
Torrado Development leads the creation of two new communities to relocate 200 families currently living in Puerto Rico's flood zones, within one quarter of a mile of their existing homes. Through municipal cooperation and NGO participation, the firm brings private-sector execution to one of Puerto Rico's most persistent housing challenges.
Active Pipeline
4 Projects In Construction
Active Markets
Puerto Rico + Rhode Island
Total Delivered
$1.7B+ In Projects
Get in Contact.
Great communities start with a conversation. Contact us to discuss your next project.