The Opportunity
Space Group would like to offer the ability to bid one of Costa Rica’s best remaining beach front development sites. The land consists of a fully serviced 402 acre beach front development parcel, ideal for a hotel resort master planned community. The land offers over 1.2 KM of secluded frontage along the Central Pacific’s most desirable beach area. The master plan contemplates the development of a hotel and spa, private beach club, 121 estate lots, 49 single family home sites, 184 Ocean view condominiums, 36 exclusive villas and a retail facility. The site is currently in the initial stages of planning. The expected gross project sell out is estimated at $133 million.
Project Highlights
- Best Hotel Resort site in the Dominical area
- Parcel offers over 1.2 kilometer of secluded beach frontage
- Property offers incredible ocean views, maximizing the site’s development value
- The Pan American hwy is going along the property line making it an easy access.
- Property will benefit with the opening of the planned international airport in Palmar Sur
- Property priced below market.
Property Description
Overview
Hatillo Dominical is a well proportioned 402 acre prime development site with 1.2 Km of breathtaking beach front, and a clean beautiful river winding through the land. Costa Rica’s leading firm, Zurcher Architects’ master planning division, Green Plan, have created a conceptual master plan for which approval is currently pending. The current design includes the following development proposal :
- Hotel
- Beach Club
- 121 estate homes
- 49 single family residences
- 184 luxury condominiums
- 36 ocean view villas
- 25 retail units in commerce center
- A Spa / Meditation center
The improved Pan American highway is running through the north end of the site and separate a small elevated section from the main site, for which the master plan suggests to develop the commercial areas and focus on mountain view residences. Located along some of Costa Rica’s most pristine coast-line, the Hatillo Beach master planned resort residential community offers its resident’s luxury in a tropical destination. The project is projected to be completed in three distinct phases. Phase I consists of the development of the project infrastructure and amenities. Phase I will also include the development of a boutique hotel, a private beach club, plus 60 beach condominium units and 75 estate homes. Phase II of the development will consist of 66 ocean view luxury condominium units, the spa and mediation center, 23 ocean view estate homes, 10 ocean view single family residences and 36 luxury ocean view villas. Phase III of the development consists of 58 ocean front condominium units, 23 luxury estate homes, 39 luxury single family residences and a commercial center.
Hatillo beach is expected to take 5 years from ground break to final sell out. A projected $133 million in real estate unit sales are expected over the life of the project.