by Randy Thompson
April 13th, 2007
Dear Friends & Associates:
I thought I should drop you a few lines and give you a progress report on San Jose Del Cabo. In this sleepy village of approximately 55,000 inhabitants (my guess) there is much to talk about. Let me speak of a few projects worth mentioning.
On the waterfront, there is a hotel under construction by a company named “Mayan Resorts”. They recently purchased the 9 hole golf course in San Jose and are currently doing a facelift on it. I am excited to see the end result of that large project.
The marina known as Puerto Los Cabos is taking shape and the earth removal continues as does the road progress out the East Cape. This project is said to be the largest project in Latin America and currently in North America. Their plans include 3 hotel sites, 36 holes of the golf course designed by Greg Norman. The marina will accommodate 535 boats with slips ranging from 30 – 150 feet. This is an amazing project and promises to put us on the map of top destinations to visit.
Along the corridor across from Brisa Del Mar R.V. Park, there is another 18 hole golf course being built as well. This promises to be a beautiful course as the project is another of Eduardo Sanchez Navarro’s. His past projects include, the Eldorado Golf Course, The Melia Hotel, and Puerto Los Cabos.
There are a number of condominium projects currently being built as well in San Jose. The final phase of Las Mananita’s is being built and should be completed within a year. It is a 6 storey waterfront condominium with 2 and 3 bedrooms selling in the area of $600,000.00. Cabo Del Mar on Paseo Finisterra. This is a 36 condominium development with breathtaking views of the new marina, Punta Gorda, and the sea of Cortez. There are 1,2, and 3 bedroom units available priced from $137,000 to $259,000.
There are a number of small projects which I am aware of thanks to my Mexicano contratista (contractor) Mariano Palma. I don’t have all the Chisme (gossip) on what is happening in San Jose, but I can see no signs of a slow down in construction. There is a demand for construction labor in this area. There is much optimism here amongst those of us in the real estate industry.
I must end on a positive, well a few positive notes. The first thing I would like to mention is, for Canadians and Americans alike, the exchange rates are excellent today making your money go further here. This area has an extremely bright future and I see real estate of any form being a good investment. Oh, and on a lighter note, on my way to work there were 14 cows at the roundabout on Paseo Finisterra. A prestigious street in San Jose’s favorite neighborhood. This is ranch country and the animals pretty much have the run of the town. Nobody gets excited they are spotted everywhere including the beach. Somehow the rancher knows where to find his animals when he needs them. This ties in to the chisme from my mexicano compadre Javier. He shared with me a story about the early beginnings of Los Cabos. He spoke of a man named Valerio Gonzalez, who was a politician in Mexico city. Gonzalez and his family vacationed to the tip of the peninsula when it was a territory. He fell in love and decided to buy cattle and graze them along the coastline. He would later claim that stretch of coastline now called the corridor. The land was the 20 miles between Cabo San Lucas and San Jose and roughly 4 miles inland. When he passed away he willed the property to his 2 sons, Lido and Raul. The two brothers have since sold, and developed much of the property. The cattle were 3 blocks from Valerio Gonzalez street, so there reason for me to be alarmed.
Thanks for the ear.