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Playa del Carmen Construction Update - January 2009

435836 — Fri, 09 Jan 2009 11:30:00 GMT

We are back from a short holiday break with a fairly extensive update of the various residential construction projects going on in and around Playa del Carmen. The economic slump in the U.S. is definitely having an effect on the sales climate down here. Last year, at this time, we were selling luxury beachfront condos hand over fist. This year, the Buyers are still here, they have just tightened their spending belts. Developers with projects in the range of $200K - $300K are seeing the bulk of the action. So, it's good news for some, not so good for others. Many projects are reaching completion. Others are delayed. It seems that a few have come to a complete standstill. People are definitely starting to see the value in smaller boutique properties set off of the beach a few blocks. Let's take a look at what's going on in Playa: the good, the bad and the ugly.

First up is Papaya, now 100% complete and making deliveries. This is a smaller complex right in the middle of downtown Playa del Carmen, just 4 blocks from the beach. The interior finishes are clean and modern. The project features a pretty lap pool surrounded by tropical plants and a large jacuzzi on the roof overlooking Playa and out to the Caribbean.

Habita is 100% complete and nearly sold out. Very modern, almost minimalistic in style, this project is chic yet inexpensive. Located in the north end, 6 blocks off of the beach, this well priced building is ahead of the curve for this up and coming neighborhood, assuring good appreciation.

Casa del Mar at Coco Beach is getting its finishing touches. The exterior looks great, the landscaping is in and taking hold and all of the streets surrounding this and The Elements are now laid with pavers. They are close to delivery.

The Lotus will be the next project to reach completion from one of Playa del Carmen's most prolific developers. Each project, undeniably, is unique and always a departure from the norm. His attention to detail and his use of unusual materials make each property stand out from the crowd. We did a full tour of Lotus this week and were really impressed with the most of units. The ground level two bedroom we found dark and a bit claustrophobic in comparison to the other spacious airy apartments. The pool is still being completed as well as the water/element on the second level. The worksite was abuzz with activity, everyone hurrying to get this one buttoned up. A sign of the times, two of the 10 units (including the ground level flat) are up for re-sale at a steep discount from a Buyer who needs to liquidate quickly. This could be an excellent opportunity to buy a nearly completed unit at less than pre-sale prices! Contact us for details on this one.

Next up is Haab, another stylish, well made project from one of Playa's well reputed developers. The popular Coco Beach/Shangri La location paired with reasonable pricing has brought a lot of Buyers to their door. The unusual lines and materials used on the exterior, really make you stop and look twice. They are planning to be complete in 5 weeks. Sorry about the sketchy "sign-blurring". A girl's gotta make a living.

Next up, we've got Casa Blanca, a complete departure from the current norm in Playa. Rather than trying to cram in as many small units as possible into a project, the developer has chosen to build an in city "townhouse" with just four luxury residences, one per floor. The units will have a whopping 135 m2 (nearly 1500 sqft.) of interior space, practically unheard of in this market and at this price point. With large parcels in town getting harder and harder to come by, expect to see more and more of these smaller, more exclusive "townhouses" being built. Good news to those of us who would hate to see whole neighborhoods (and worse yet, previously protected green spaces) obliterated to make room for another giant condo complex.

It seems no Construction Update would be complete without a mention of Azul Fives. However, with many Buyers now taking delivery and the resort due to be officially open in February, this may be one of our last photo updates. The new lobby and reception area is complete and lovely. The majority of the units have been completed and are being furnished and outfitted for occupancy. The beach club is almost done. The kids club area is complete. The tennis courts are in. The finishing touches and final plumbing is being done on the pool bars. At the beach club, the large infinity pool is beautiful and the one full service restaurant that is currently open is pretty, the food tasty and nicely presented. The staff are very definitely still working through the training phase to get up to Karisma's exacting standards. The other restaurants are working steadily toward completion however, it appears the majority of the work force is concentrating their efforts on the enormous spa. The Buyers we toured the site with this week were very pleased with the progress and excited about their investment. You can expect to see more pictures of the beach club in upcoming entries. It will be open to the public and you can be sure, we will be back!

OK, now let's move on to some of the projects that seem to have lost stream or halted construction all-together. I don't imagine this is going to make me very popular with several developers. Sorry guys. I promise to be back when they're well under way and looking beautiful!

Blume. We love the innovative designs they have proposed, but so far, all we have is a bad water feature to show.

The Loft II has been temporarily delayed, construction halted. A victim of these new, more tentative market conditions, the developer still has unsold units in The Loft I.

Zaphira appears to be dead in the water. It has been months since I have seen any activity on the job site. Today, I noted that the sales van was gone and the only signage was for rental of the commercial spaces. It appears one had found a tenant as they were working inside when I came by. No work was being done on the rest of the units. Too bad. This great 5th Avenue location, next to the famous Cueva del Chango and just a few moments from Shangri La beach should have made it a homerun!

Well, that's about enough for this month. As always, I am happy to go out and drive around taking pictures on request. Feel free to send me an email or just leave a comment on the blog. I hope all of you have had a Happy Holiday season with your families and friends. Let's all look forward to an exciting and economically prosperous 2009!!

Playa del Carmen Construction Update - May 2008

435836 — Tue, 13 May 2008 14:08:00 GMT

As requested by "Life's a Beach" Readers......

Far and away our most popular and fastest selling investment property of the year, The Fives is teaming with activity as the enormous free-form pool that meanders throughout the property gets dug in and poured. Many of the towers have been completed and are getting a fresh coat of paint and windows fitted. We spent several hours onsite today with buyers looking to snap up the few remaining units. Due to the recent purchase of a neighboring parcel, The Fives beach frontage has been dramatically increased and is, as always, spectacular.

In Playacar Phase 2, a large swath of land has been selectively cleared and dug in preparation for the new project from Origo, Vaiven del Viento. This is the first phase of the ambitious Vaiven project consisting of 149 2 and 3 bedroom luxury condominium residences set on over 9000 square meters of property. Features of this project include underground parking facilities, a cinema lounge, a fully equipped gym, Yoga, dance and Tai Chi Solariums, an onsite infirmary and a children's playground. A majority of the mature tropical trees have been preserved on the property and the developers plan to make use of sustainable resources for their building materials and impliment a rainwater catch system to irrigate the massive gardens and green spaces on the property. Delivery is scheduled for Fall 2009.

Playacar Phase 1 has quite a bit of construction going on including this enormous 2 villa project going up quickly next to Casa Vista. Reported to boast a whopping 8 bedrooms each, these new ocean-view homes will certainly be a great vacation rental option for large groups or families traveling together. I should mention that this is the most professional and well managed worksite we have ever seen in Mexico. Notice the hard hats and reflective vests. The clean and orderly appearance of the jobsite, the covered lunch area and laundry facilities make the standards of this builder unique in this region. Bravo. We look forward to seeing the final results!

Back in downtown Playa del Carmen, just one block from the beach, Acanto Condominiums are ready to begin construction. The lot, located next to the popular Acanto Hotel on calle 16, has already been cleared. These luxury 1, 2 and 3 bedroom condominiums have been designed by the same award winning architect who created the Villas Sacbe, Porto Playa, El Taj and most recently, Maya Villas. In keeping with the design of the hotel, these condos will have a romantic appeal with influences from the far East. Prices for full ownership include gym menbership and start in the low $300,000s.

Just next door on Avenida 1, the construction of Maya Villas is progressing rapidly. Today, the crews were putting a smooth finish on the exterior and painting. Some palapa is already in place over the spacious terraces. Delivery of these units in time to capture high season rentals seems very likely. This is a beautiful project with just a few units left to sell.

The construction of El Faro Residences is moving along quickly with its well funded crew. The model unit is ready to show and several of the buildings have been completed. The interiors remain to be finished but it appears that this controversial project will successfully reach completion and delivery.

OK, that's all for this month. Feel free to contact me and let me know if you would like a photo update of a particular property added to June's roster.

April 2008 - PDC Construction Update - Issue 1

435836 — Thu, 10 Apr 2008 16:12:00 GMT

In response to numerous inquiries from friends and customers, today I will be starting a series, reoccurring monthly, of construction updates via actual photos of projects going up in and around Playa del Carmen! Many of you have already purchased pre-construction property here in the area and are now back at home, no doubt, wondering what the heck is going on with your money! Well, here you go! At the beginning of every month, I will visit various properties in progress, take pictures and report back. And the best thing.....I take requests! That's right! Even if you are NOT one of our customers, (and shame on you for not coming to us) if you have made an investment here in Playa, let me know and I will be happy to go and snap some photos at the beginning of the month. Hopefully, this will be a good way to not only reassure you, the investor, but also your family and friends who may think that you had too many "Panty Rippers" while you were here on vacation, have clearly lost your mind and might as well have thrown your money into a giant cenote! For those of you still working through the process and trying to make a decision, I hope this helps you feel more in touch with the real estate market in Playa del Carmen and the many options available!

Sabbia - Ave. 20 at Calle 34

Sabbia - May not look like much right now while they are digging and putting in the VERY IMPORTANT substructure but not to worry. There are tons of workmen bustling around the site and everything is moving along well. This is the slowest part of the process to show progress. All good here!

Oasis 12 - Ave. 15 and Calle 12

Oasis 12 - This project is flying along. Lots of people onsite. Their showroom is already complete. This should be a very attractive project, completed on-time if not sooner!

Arena - Coco Beach Area

Arena Condominiums - Done, just cleaning up a bit. Most, if not all, of the units have been delivered. A very nice project, well done.

Costa Turquesa - Coco Beach North

Costa Turquesa - This is a seriously HUGE project! The developers are very experienced and have plenty of money behind them. Lots of activity onsite and one of the condo towers appears to be nearing completion. Once that is complete and the showroom is open, right on beautiful Coco Beach...look out. Sales will start flying!!

The Elements - Coco Beach

The Elements - After what seemed like an eternity of drilling and ground work, (which we like to see FYI) The Elements has finally sprung skyward. The site is teeming with workers and the project is moving right along, it seems, on schedule. If The Elements turns out to be half as beautiful as the plans portray, it will be a real feather in your "investor cap".

Casa del Mar - Coco Beach

Casa del Mar - Moving right along, next door to The Elements. Well priced but no ocean-front condos remaining. Good purchase for those lucky Buyers who got in early!! Lots of workers onsite, everyone is hustling to get open before the next high season!!

Capri II - Ave. 10 and Calle 38

Capri II - Done and most units sold and delivered. Good location, not much from the outside but inside, the units are actually quite lovely.

The Building Loft I - Ave. 10 and Calle 28

The Building Loft I - Putting on the finishing touches, cleaning up and ready to go! The Winery had been open for some time and doing a brisk business. One unit left to sell in Phase 1? The Building Loft 2 is just starting on Ave. 10 and Calle 26. Lots of digging and groundwork for the supports and underground parking.

So, that's what I've got to show for this 1st monthly update. I hope this has been and will be helpful. Let me know what you would like to see michelekinnon@gmail.com and I'll be sure to get it up here. Updates will come in the first week of every month. Bookmark this site www.LifesaBeachBlog.com for easy reference or sign up for an automatic RSS feed if you don't mind suffering through all the entries about raising our children, travelling and the demanding social schedule here in Playa. OK, there's actually some good stuff there...so sign up!!