The singer and husband Marc Anthony are said to have viewed a unit in a high-rise luxury complex which many residents consider to be an overbuild of shoreline.
According to the New York Post, residents are up in arms about a piece of public land being sold to a private developer and the preservation of a nearby 17th century fort.
Anthony's rep said she was not sure about the couple’s possible decision to invest, but said they do have 'big plans' for Puerto Rico that they'll unveil in 2011.
'They are looking into creating new projects in San Juan and Latin America in development, entertainment and film,' she said.
A rep for Lopez declined to comment.