BAHIA ESCONDIDA
1/30/2007 10:20:43 AM by Jane Malory
The hottest new property on the globe is already turning heads — and getting commitments — well before it’s even built. Herewith: Introducing the world’s best kept secret.
In a vacation-home market where many former hotspots are suddenly losing their prestige, Bahia Escondida is a breath of fresh, Costa Rican air.
Nestled within the protective enclave created by Golfo Dulce Bay on Costa Rica’s South Pacific coast, Bahia Escondida is a master-planned residential, resort and marina destination currently under construction in the town of Golfito. Since its inception in the 1930s, Golfito has been recognized worldwide as a lush, tropical paradise. This popular historical town is now being revitalized by Costa Rica developer Jim Lynskey and Las Vegas-based Great American Capital, whose plans for Bahia Escondida have begun making waves in the real estate, tourist and fishing industries for their state-of-the-art luxury amenities and old-world Plantation Victorian charm.
Construction officially began on the development this past October. For the past several months, crews have been clearing the site while trucks loaded with backfill materials have continued to arrive. An official February 2007 groundbreaking ceremony has been scheduled to coincide with the inauguration of Golfito’s newly elected Mayor, Jimmy Cubillo, who is a strong supporter of the project. Work has also begun on Phase I of Bahia Escondida’s state-of-the-art marina, which includes 81 slips and is on track for a December 2007 completion. An additional 136 slips will be available in early 2008.
Blueprints for Bahia Escondida include a quaint bayside village, complete with condominiums, town homes, private residences, boutique shops, restaurants, a luxury boutique hotel, yacht club, casino, spa and two pools. The Phase I one-, two- and three-bedroom waterfront residences are priced from $380,000 to more than $800,000 and feature stunning picturesque views of Golfito’s native rainforest, towering mountains and sparkling bay. Unlike the imposing skyscrapers that loom above visitors in Miami and the Bahamas, Bahia Escondida’s low-rise buildings will be integrated within the village, creating a luxurious, yet relaxed lifestyle.
“What’s not to like about Costa Rica?” says retired Florida Circuit Judge Arden Siegendorf, who recently purchased a condominium at Bahia Escondida. “Somewhat reminiscent of Key West and its ‘end-of-the-road’ ambiance, Golfo Dulce and Golfito are also unique in their atmosphere of laid-back luxury. Oh, and did I mention the fishing? Unbelievable!”
Long known as one of the Pacific Coast’s premier fishing destinations and a gathering spot for avid sports fishermen, Golfito’s safe, natural harbor is located within the closest sheltered bay to the Panama Canal and offers the possibility of catching “granders.” The surrounding waters are full of blue, black and striped marlin, Pacific sailfish, yellowfin tuna, giant dorados and wahoo, in addition to in-shore fish such as snapper, roosterfish, grouper, pompano, amber jack, cierro mackerel, snook and blue travelli.
Bahia Escondida’s full service marina has been designed specifically to take full advantage of both Golfito’s prestigious reputation and its gorgeous location. For those more interested in pleasure yachting than in landing a monster fish, the available concierge service will organize excursions, as well as provide airport transport and other conveniences. A private yacht club will boast upscale amenities, including individual wine storage, cigar humidor lockers, a cognac bar, a pool, a fitness center, Internet access and boutique hotel. Marina slips range in size from 45- to 120 feet and are priced from $175,000 to more than $400,000, with vessels up to 240 feet having the opportunity to purchase two adjacent slips to accommodate their crafts.
Whether by land or by sea, Bahia Escondida’s location is one of the most beautiful in the world. Eco-tourists traditionally flock to Golfito in large numbers in order to explore its picturesque national parks and virgin rainforests, and surfers are drawn in huge numbers to nearby Pavones. National Geographic Traveler Costa Rica designates Golfito’s surrounding area (Corcovado National Park) as “The Crown Jewel of Rain Forests” and indicates that approximately one-tenth of all mammal species found in the Americas live within the park. Among that population are jaguars and other big cats, endangered spider monkeys and Costa Rica’s largest population of scarlet macaws and toucans.
While endangered species have thrived in Golfito, the town itself initially struggled after the United Fruit Company closed its headquarters in 1985. Tourism began to fill the gap left behind by Chiquita, and now Bahia Escondida promises to return the area to its once-proud, successful roots. Both Lynskey and Cubillo, expect the bayside village and marina to create hundreds of jobs and to lead to a significant boom in Golfito’s economy.
“This development is poised to revitalize and restore this area, and we couldn’t be more pleased that Bahia Escondida has chosen to call Golfito home” says Cubillo. “We look forward to welcoming visitors and new residents to experience our rich culture and matchless natural beauty.”
Costa Rica’s famed political peace and stability, along with its easily accessible airports, ensure that tourists are not in short supply, but right now this Central American paradise is attracting home-buyers in equal measure. Those turned off by the poor price/value ratio of South Florida’s real estate bubble and the overbuilding in the Bahamas have begun to take notice of Costa Rica’s tourism-friendly atmosphere and respect for U.S. currency. Even as projects and sales grind to a halt in other areas, Bahia Escondida has seen unprecedented success. In fact, the initial overwhelming response to the development led Lynskey to redesign Phase I in order to incorporate more residences. Recent figures have continued to prove Bahia Escondida’s staying power; at October’s Fort Lauderdale International Boat Show, Digital Capital Group, the development’s exclusive sales representative, reported an impressive $5 million in sales.
“Our buyers thus far have shared similar interests,” explains Phil Perko, President of Digital Capital. “They want world-class fishing, the charm of a historic town and the knowledge that their boats are secure in a natural harbor that doesn’t experience hurricanes. Bahia Escondida is the ideal vacation residence for young entrepreneurs, the perfect second or third home for professionals, and an idyllic, low-cost tropical destination for retirees.”