Puerto Vallarta, Jalisco, Mexico - Just before the economic downturn in 2008, Mexico's Costalegre region was expecting a new airport to be finished and investors were looking to take advantage of property purchases before things really took off.
After the economic crisis, investment slowed down and the beautiful stretch of coastline between Puerto Vallarta and Manzanillo has been working hard to recuperate ever since. Plans for the new airport were put on hold and developers put their projects on standby. Well all of that is about to change in a big way.
According to Alfonso Espinoza Estrada, delegate for the Secretary of Tourism for the State of Jalisco, "The fist step for the new airport will be to receive the permission from the Civil Aviation department to operate the airport. In the beginning we are looking for private airplanes to land for vacation travel because we already have various exclusive hotels in the area. Included in the Costalegre zone are Polo Tournaments in November and March. In order to participate in events like this you need to be able to bring in world class horses, have training spaces for them, and areas for the horses to rest so they can compete. This type of activity requires a large investment and for this we are working towards having the new airport open before this administration leaves office."
The governor has earmarked $21,000,000 USD to start the project of the new airport, highway expansion, utility services and infrastructure.
Highway 200 Expansion
The highway from Puerto Vallarta to Barra de Navidad is already in the process of adding lanes, which will better handle the traffic and make the commute much faster along Jalisco's coastline.
Chic On The Beach – Louis Vuitton Moet Hennessy's Hotel Cheval Blanc
Soon the Costalegre will be a little more glamorous with the addition of the new Cheval Blanc Hotel that will have 52 luxurious vacation units in it's resort. The Initial investment of the LVMH group for its new Costalegre Hotel will be $150,000,000 USD. According to Lorenzo Klanderos Volquartz, Grupo Invermar's representative and the developer of Zafiro, construction should be finished by 2017. The property will be located in the new Zafiro complex in the town of La Huerta. The LVMH Group has been looking throughout the Americas and found "one of the most beautiful beachfront regions in the world, especially the Bay of Chamela, for its quaint private beaches and nine islands and was the place we most liked" according to Landeros Volquartz.
LVMH owns the brands for Louis Vuitton, Dior, Givenchy, Bulgari, Moet & Chandon, Dom Perignon and Hennessy, among others.
One & Only Hotel
Sal Kerzner's group, Kerzner International Holdings Limited is building the new One & Only Santa María de Xala, which will be part of a new development of 1,200 hectares; with beachfront of 8 kilometers and with frontage on a beautiful lagoon that will be about 100 kilometers from the Puerto Vallarta Airport. Mr. Kerzner is also known for creating the Atlantis Hotel in the Bahamas and the famous Sun City Resort in South Africa.
The key concept is a hacienda on the ocean's edge with a master plan that integrates social and cultural elements of the region, including the quaint fishing village and architecture typical of the old Haciendas of the past. The resort will consist of seventy-five luxury villas and suites with private pools and the new One & Only Residences.
Four Seasons Tamarindo
The new Four Season's Tamarindo Hotel will have 160 rooms and a golf course all located beachfront along the coast. This property will be near the Tamarindo Hotel and the small village of La Manzanilla in an incredibly beautiful setting.
With this investment in the area, and a new airport, look for the Costalegre to become an exciting new vacation location for Mexico, particularly for the vacationer seeking luxury accommodations. For information on how you can invest in this growing area of the Mexican Pacific coastline, contact one of the professionals at Timothy Real Estate Group.
Timothy Real Estate Group is a full-service real estate sales, rentals and development agency representing some of the most distinguished properties and developments across Puerto Vallarta, Bahía de Banderas and the Riviera Nayarit. For more information, visit TimothyRealEstateGroup.com.
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