GOLFITO, Costa Rica, Oct. 25 /PRNewswire/ -- The developers of Bahia Escondida today announced construction officially is underway on its master planned residential, resort and marina destination situated on Costa Rica's Golfe Dolce Bay in the famed resort town of Golfito. The first phase of the $350 million project will include 75 condominium units, the most complete state-of-the-art marina on the country's idyllic Pacific coast and a charming bayside village complete with boutique shops, bayside restaurants, yacht club, spa, pools and more.
Construction crews currently are clearing the site and soon will deliver backfill materials in preparation of a planned December groundbreaking. The initial phase of the marina, which will include 86 slips, is scheduled for completion in December 2007. The condominium units and village are slated for a late 2008 completion.
"It's incredible to begin watching our dream transform from concept to reality," said developer Jim Lynskey, a Miami native, who is partnering with Las Vegas-based Great American Capital to create Bahia Escondida. "This is one of the most magnificent locations in the world and we are excited to launch construction of our one-of-a-kind development."
Priced from $300,000 to $800,000, Bahia Escondida offers one-, two- and three-bedroom waterfront residences surrounded by picturesque views of Costa Rica's native rainforest and towering mountains. The low-rise buildings will be integrated within the unique Plantation Victorian-style village creating the quintessential destination for those seeking luxurious amenities in a laid back lifestyle. Marina slips ranging in size from 50 to 150 feet are priced from the mid $100,000s and will include golf cart concierge service and a high-speed fuel dock.
Merging miles of picturesque beaches, national parks, rain forests and world-class fishing, Golfito is nestled within the heart of one of the most bio-diverse locations on the planet. National Geographic Traveler, Costa Rica states, "The surrounding area of Golfito (Corcovado National Park) has been labeled 'The Crown Jewel of Rain Forests.'" The guide indicates about one- tenth of all mammal species in the Americas live in the park, including Costa Rica's largest population of Scarlet Macaws and Toucans and such endangered species as the Spider Monkey. It also is one of the few places in the country where sightings of jaguars and other big cats are common.
The area's safe, natural harbor is located within the closest sheltered bay to the Panama Canal and has long attracted mega yacht cruisers, avid sports fishermen and luxury eco-travelers. Expert surfers also flock to Golfito, where nearby Pavones is "legendary for what is ostensibly the longest surf ride in the world," according to National Geographic Traveler, Costa Rica.
Now, Bahia Escondia is also luring vacation homebuyers and real estate investors to this tiny town on Costa Rica's inviting South Pacific coast.
"Initial buyer response to the condominiums and marina slips was overwhelming," said Phil Perko, president of Digital Capital International Sales Group, the project's exclusive sales representative. "That led us to redesign Phase I in order to include additional residences."
As the home to Chiquita Banana, Golfito enjoyed a magnificent heyday during much of the 20th Century. The city remains a paradise for fishermen and eco-travelers, and Lynskey expects Bahia Escondida will create hundreds of jobs and lead to a significant boom in the area's tourism industry.
"Golfito is a wonderful town and we are honored and thrilled that Bahia Escondida will help lead its rebirth and revitalization," said Mayor Aida Soto. "The project will provide a tremendous future for the entire area. We look forward to visitors from various cultures around the world coming to Golfito and sharing and enjoying our beautiful waterfalls and mountains."
Jim Lynskey is a pioneering developer with more than twenty years of experience creating resorts and real estate projects throughout Caribbean and Costa Rica.
Great American Capital is a fully diversified real estate development company experienced in all facets of development including land acquisition, site design, entitlements, construction, leasing, and property management. In addition to building more than 2.5 million square feet in retail and office space, Great American provides investment capital to joint-venture partnerships developing mixed-use projects.
When complete, Bahia Escondida will feature 217 marina slips and approximately 400 hotel and condominium units. Phase II is scheduled for introduction in 3rd quarter of 2007.
Bahia Escondida is accessible via daily commercial flights into Golfito from San Jose, Costa Rica. Coral Gables, Fla.-based OBM International is the project architect.
Bahia Escondida
