Centric: Discover the new residential project being developed in the heart of Ponce
Puerto Rican investors lead the way in offering contemporary homes
August 01, 2025 – 11:10 a.m.
By: José Orlando Delgado Rivera | Senior Digital Media Editor
The design of Centric Contemporary Urban Residences in Ponce includes high-end finishes both inside and outside the units.
With a contemporary design aimed at attracting families and professionals living in southern Puerto Rico, the Centric Contemporary Urban Residences project was born in Ponce.
The project, developed by Misla Villalba Group, is located on Albizu Campos Street, near Miguel A. Pou Boulevard, an area known for its economic and industrial activity.
Abel Misla, a renowned architect and investor from Ponce, said the total investment in the project amounts to approximately $7 million.
To bring the project to life, the developers secured $5.4 million in financing through Sygnus Capital, according to Property Registry records.
“It is a very sexy residential project for Ponce. It is a small project, but it is a very good project because it contributes to the economy by creating more contemporary residences in Ponce. And it is centrally located, right in the heart of Ponce,” Misla said in an interview with El Nuevo Día.
Centric will have a total of 24 units, with prices starting at $425,000. The residential complex was designed with controlled access and parking.
According to the developers, each home has 1,500 square feet distributed across two levels. The units feature three bedrooms, three bathrooms, a study, and two parking spaces.
Designs published by Misla Villalba Group showcase high-end finishes throughout the interior and exterior of the residences, along with minimalist architectural details.
Misla emphasized that the residences are already available for sale and said there is sufficient demand for the project in Ponce.
The developers are primarily targeting creatives, professionals, and urban residents, according to the report.
“Everyone asks me if there is demand. And I tell them: let me build it. I say there is,” the businessman said.
According to Misla, construction of Centric is expected to take between 14 and 18 months.
The property where the project is being developed, which the entity Centric Holdings LLC acquired in June for $550,000, has already undergone initial cleanup and preparatory site work, the investor said. Before changing ownership, the property belonged to TAI Development Group LLC, according to the Municipal Revenue Collection Center (CRIM).
The Municipality of Ponce confirmed that the project is in the process of submitting documents to access the incentives available through the municipality to promote economic development.
An Additional Investment in Ponce
The development of Centric is part of Misla’s broader investment in Ponce’s economy, where he operates and develops multiple projects.
As recently as April of this year, the investor, together with Antonio D’elia Smith, began the reconstruction of the former Intercontinental Hotel in Ponce, at a cost of $40 million.
The property, which ceased operations 50 years ago, will operate under Marriott International’s Tribute Portfolio brand and will target an “elevated” tourist profile.
Meanwhile, in 2022, Misla, through the entity Heritage Holdings LLC, purchased the former Banco de Crédito y Ahorro Ponceño, just steps from Plaza Las Delicias, for $950,000.
The project has not yet begun, but Misla intends to convert the building into a hotel that would operate under the name Hotel Nacional.
Misla, president of Misla Hospitality Group, also owns the Meliá Century Hotel, The Fox Hotel, and Solace by the Sea.
Asked whether he would continue investing in the residential sector, Misla said he is developing another housing project called Arca.
