Cabo Welcomes Olamar
Located on one of the most celebrated yet secluded beaches in Cabo San Lucas, Olamar is a new community with a contracted collection of whole and fractional ownership homes that offer amazing views of the landmark Land’s End arch. Developed by Italian financier, Giammarco Vela, who moved to Cabo in 2004, and long-time Cabo devotee, John Penz, Olamar is Cabo’s first LaTour Signature Resort, a joint venture between The LaTour Group and ResortCom Elite. Known as the luxury division of ResortCom International, the mission is to design, create, and deliver extraordinary, personalized properties. The community will consist of five residential buildings designed by HKS Architects and residences uniquely appointed by Marisabel Gomez Vazquez of Arquitectura de Interiores. Whole ownership oceanfront villas from $2 million US. Residence Club from mid-$3oo,ooo (sold in 1/8 shares.) Forty-eight units; two- and three-bedroom floor plans. First occupancy scheduled in June 2008.
“Green” Community To Debut in Pescadero
Rancho Palmar, a new private gated community, will shortly be offering 57 one-half acre parcels in the beach-front town of Pescadero, just 11 miles south of Todos Santos and approximately 40 minutes north of Cabo San Lucas. The vision and goal of the community is to be sustainable and “green,” completely off the energy grid. The community will rely on solar or wind power only, water will be provided from fresh water wells within the community. In accordance with the concept of this property, plant cultivation will be encouraged within the development. The Vitamar Group has announced that they have obtained all the permits necessary to begin sub-dividing the lots, building the infrastructure and drilling the wells to provide the community’s fresh water supply. Work is proceeding on drafting the Homeowner’s Association regulations and documentation. Initial pricing for the parcels is planned to be $21,000 to $40,000 US. For more information, see your MLS member real estate agent.
Las Villas de Mexico Plans Two New Developments
Las Villas de Mexico, is developing two separate Cabo areas, one at Club Campestre in San Jose del Cabo and the other at the south side of the Cabo San Lucas marina near Cabo Dolphins. Plans include single-family homes, condos and townhouses, as well as a commercial plaza for each development. Additional information and reservations will be available soon.
New Concept In Full Ownership
Condo Hotel ownership has thrived in some parts of the United States and Canada, and is now here in Cabo San Lucas. The Bay View Suites, adjacent to the Cabo Villas Resort, offers full ownership of two and four bedroom suites. The property is designed to rent as a hotel suite when not being occupied by the owner. When owners are not using the unit, the hotel will integrate it into their inventory of suites and a projection of 80% or higher occupancy is expected. Currently under construction, the units feature spectacular views of Medano Beach and the Arch. Bay View Suites is fully integrated into the Cabo Villas Beach Resort, and owners will have the use of all services of the existing hotel and enjoy concierge service, full beach amenities, daily maid service, and even room service from any of the hotel’s restaurants. The seven-story tower also offers underground parking and a private beach club. Prices range from $600,000 US to $3,200,000 USº during construction. Financing is available. Title insurance is available. For more information contact your MLS member realtor.
Pacific Side Beachfront Development
Rolling Hills Estates, eight minutes from Cabo San Lucas up the road to Todos Santos, is a new development that stretches four kilometers from the highway down to the Pacific Ocean. Home sites run from 13,200 sq. ft. and lots are priced from $100,000 US. Sites offer views of the Pacific Ocean, Cabo San Lucas, and panoramas of the desert and mountains. The development is a 24-hour secured gated community with paved roads, underground electricity, tennis courts, and a community clubhouse and pool. There is a ten percent discount for cash payment and another ten percent discount for buying three or more lots. Developer financing is available 30-50% down, 8-10% interest, fully amortized over ten years. Bank Trust “Fidiecomiso” and title insurance are available to U.S. and Canadian owners. On-site consulting for custom home construction by the developer.
Remarkable!
Undeveloped Property Until Now
With a prime location that has been undeveloped until now, Puerta Cabos Village, a full-ownership condiminum complex is located on the main boulevard in Cabo San Lucas, near the Pueblo Bonita Rose. Two- and three-bedroom untis are included in the complex, prices starting in the mid-$400,000 US, as well as penthouses with roof-top gardens, Jacuzzis and barbeque grills, starting in the upper $700,000 US. Distinctive residential priviledges include underground parking, health clubs, swimming pools and landscaped tropical gardens.
Luxury Villa Collections
Opened in March, Luxury Villa Collections is a new property management company for homeowners who are not full-time residents of Los Cabos. Luxury Villa handles rentals for extended periods of time or even just one night. Their helpful vacation planners will see to every pre-arrival need, such as transportation and grocery shopping. The 24-hour concierge service attends to your needs while at this boutique escape. Spacious homes and villas have views of the sea, the golf course or the tranquil infinity pools. The Cabo Villa Collection is perfect for visitors to Cabo, whether on business or vacation.
Tax Time
If you are a U.S. taxpayer and have filed form 3520 (Beneficiary of a Foreign Trust) with your tax return in the past, ask your tax preparer about form 3520A to be filed in subsequent years. Consult your tax advisor for more details or write to your congressperson.
Attention Developers!
To have your property considered for inclusion in New and Notable, send a press release to edgar@loscabosguide.com. Your release should include location, amenities, floor plans, contact information and pricing. Photos in jpeg format are welcome.
