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Hello and thanks for inquiring about our project. I follow We Love CR and get a lot of useful information out of it so I felt compelled to respond.
CR Limited is correct that we do have a lot of our infrastructure in place which includes brick paved roads, underground utilities, sewer, storm drainage, etc. We are currently finalizing our budgets so we can restart construction and finish the infrastructure work as well as build the main entrance on the highway. We believe that this will put a face on the project to the public and will have a nice impact for future tours, sales, general exposure.
We postponed construction when we had run into delays with the registration of the master condominium which has now been completed. Our 45 home sites in Camino Real now have individual titles and we are starting our closings with our clients of which the majority are still on board to close.
We are also continuing our efforts on securing a luxury hotel partner. We have spoken with people from China to Dubai, from Spain to South Korea and although there seems to be a high level of interest in Costa Rica and our site along the Central Pacific, these groups want to see the market conditions improve a bit more before committing to invest the amount that would be required. We feel it is a matter of time and that the overall market conditions have improved compared to the last 24 months or so. This is probably why there has not been any announcements of any significant hotels coming to Costa Rica for quite some time yet the tourism numbers are encouraging.
This may be why at times, people think we are selling the project which is not the case versus selling a part of the project such as our commercial site or hotel site which are viable options.
In short, the last two years have been challenging for anyone who has been involved in real estate around the world which includes us, but we have made the necessary moves to position the project going forward as the Costa Rican market rebounds. I believe that during these past two years there have been improvements to our area which our project will benefit from such as the new highway to the Central Pacific, the new marina opening in Quepos, 3G network which covers our entire property offering high speed internet and of course, Costa Ricas improved investment grade status which should attract investors from around the world.
[quote=”gkbiz”]If it is Las Olas you are considering, the project seems to be abandoned with only a couple of concrete walls of their “beach club” standing in an abandoned, fenced lot just behind the Low Tide Surfer Bar. I personally met a “gentleman” in Escazu who was selling all contents of his home and clearing out of CR in a hurry. He claimed to be a major money-silent partner in Las Olas. He claimed that all investors got their money back. I wouldn’t bet on it. Said he would be back in 5 years when the economy gets better. Sure bet!!!
Cabo Caletas who uses Mussio architects seems to also be shut down due to inability to get titles for their lots as the lot sizes vs home size do not meet CR law. This is what I have heard is the reason.
Several houses in Costa Montana and Costa Esterillos have been designed by Mussio and are already built. In my opinion, there is way too much unfiltered glass in these homes that lets all the heat in and doesn’t keep them properly insulated. He never heard of double pane insulated glass. The homes can be entered in Architectural Digest but I would not like to be paying the A/C bill.
You can see many of them at costadevelopers.com , see model homes in Montana and Esterillos, most are his designs.[/quote]
Hello, I am responding to the incorrect information that one of the posters had posted on Cabo Caletas. Cabo Caletas has never used Mussio for anything related to the project. Our architects name is Alberto Reifer and he has one of the most successful firms and development companies in Costa Rica. Secondly, Cabo Caletas has not been shut down. They are in the process of getting their home sites registered with the national registry. The average size is 2000 M2 so they are plenty large and well exceed any regulation that Costa Rica has put forth. It is a typical case where the Costa Rican system is causing unnecessary delays although this should be resolved very soon.
As far as Esterillos Oeste goes, I truly believe after living here for 5 years that if someone is strongly considering to purchase something in Costa Rica, that this area/town is the place to invest. Too many positives happening.
Robin,
Have you been to other parts of the country as there are major differences from one area to the other. For instance, the Central Pacific of Costa Rica has a different feel to it than up North and South in the Osa. We have found that the central pacific has superior infrastructure, beautiful beaches and a more mild climate to where the trees stay green year round. Plus the price per square foot for finished construction is less than up North. Just a thought so you know all of your options. Some people love Guantecaste while others hate it for various reasons, just depends on personal taste as there is quite a difference.
