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Prices start at $375,000 U.S. for a three-bedroom condominium and top out at $630,000 U.S. for a four-bedroom penthouse. Amenities include concierge, surf valet and private airport shuttle. Maintenance, upkeep and security are included in the maintenance fee estimated to be between $10,000 and $16,000 U.S. annually. A model unit was completed in June 2007; the first occupancy is slated for spring of 2008. Some full ownership opportunities are also available. Your MLS-member realtor can assist with the purchase of both the fractional and full ownership opportunities.
• New Community in Rancho Paraíso
El Cielito is the new private community in the Heights section of Rancho Paraíso, the gated community just a few kilometers from Cabo San Lucas. In addition to panoramic views of Cabo San Lucas Bay and the Sea of Cortés, the twenty-two 'town villas' will offer luxury amenities. The majority of the villas will be three-bedroom residences; a limited number of two-bedroom units and penthouses will also be offered. The penthouses will feature private pools; all units will have a terrace and private garage. Pre-construction price for the initial eight units released this summer is $880,000 U.S. for a three-bedroom unit with garage. Cash discounts are expected to be announced. The pricing for the remaining units was unavailable at press time. Delivery of finished units is expected mid-2008.
• The Media Luna Lofts
The Media Luna Lofts near downtown Cabo San Lucas have broken ground. This 18-unit complex features two-bedroom condominiums with underground parking and extra storage. The model unit is estimated to be ready in November, with completion of the building expected at mid-year 2008.
• Update on Hacienda
Construction continues on the new Hacienda luxury resort on Médano Beach in downtown Cabo San Lucas. In April, Hacienda achieved another major milestone by securing $130 million U.S. in construction financing from Wachovia Bank, the largest loan of its type ever recorded in the Los Cabos area. With the entire site prepared and Sea Wall construction nearly complete, crews continue to work on the construction of Hacienda's luxurious Resort Residences. Currently, more than 90 of the 109 Phase I Villas and Resort Residences have been purchased totaling over $220 million U.S. in sales. At press time, the developer announced that remaining Phase I inventory would be released with Phase II at a date to be announced shortly.
• Puerto Los Cabos
The developers of Mision La Serena in Puerto Los Cabos have announced that the front nine holes of the Jack Nicklaus-designed course will be playable in October of 2007. This public course is only the tip of the iceberg for golf in Puerto Los Cabos; a Greg Norman course is under construction and expected to be open for play in the spring of 2008. And work is underway on the back 18 holes of the Nicklaus and Norman courses with opening dates to be announced. Puerto Los Cabos is a master planned community, which includes a just-opened marina, restaurants, parks, and of course, golf. In addition to the Mision La Serena upscale fractional resort, there are three neighborhoods where building lots are available for custom homes: La Noria, El Altillo and Fundadores. Residents in each will have special privileges such as private beach and golf clubhouses, golf memberships, marina space and private spas. Both the building lots and fractional residences are available through all MLS-member realtors. Puerto Los Cabos is located in San José del Cabo just east of the estuary.
• Pedregal Desalinization Plant
Work continues on the private desalinization plant being built to serve the residents of the prestigious Pedregal community in Cabo San Lucas. When complete, the plant will provide all water to the new fractional resort Capella Pedregal and also the individual homeowners in Pedregal. An estimated 1,200 homes will be taken 'off the grid' and will no longer burden the public water system. Although desalinated water is common in Los Cabos, this is the first time a private plant has been built to provide water for individual homes. Pedregal is located on the mountain behind Land's End in downtown Cabo and was the first gated community in the area. The home owners association Colonos de Pedregal has set up a private water company to administer the plant and expect it to be online in early or mid-2008.
Article by Carol S. Billups
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