Developer targets Atlantic coast for new marina resort
Wednesday, June 18th, 2008A Florida-based developer is trying to create the first-ever large-scale, yacht-friendly resort project on the little-traveled Atlantic coast of Costa Rica.Isla Moin is located near the city of Limon, a 30-minute flight from the capital or, as marketing materials quaintly describe, a “breath-taking” 2 1/2- hour drive through the mountains. Developed by SolerPazos Group, a company founded by Costa Rica native Jose Soler, with Costa Rica construction company Edificar as a partner, the first phase of the 200-acre project calls for the construction of more than 200 housing units around canals and beachfront, as well as a 123-slip marina.
Eventually, Isla Moin is expected to include 800 condominiums, villas and estate homes, a luxury hotel and room for 500 boats.
While new projects sprout up seemingly every week on Costa Rica’s Pacific Coast, developers have practically ignored the jungle-covered Atlantic coast, which has little in the way of roads or infrastructure. And there is not much in the way of attractions for the yacht crowd. From Mexico south there are few docks, nevertheless deep-bay mega-yacht moorings below the hurricane line.Beyond the marina, the developers are pitching the affordability of the project, offering “all of the benefits of Costa Rica at a fraction of the recently inflated prices of Costa Rican real estate,” according to the marketing materials. In the pre-construction phase, units are priced between $175,000 and $2 million. Marina slips, the real prize, range from $100,000 for a 40-foot slot to $1.5 million for a 250-foot parking spot.
Local coverage notes other marina projects have faced local protests, but it appears Isla Moin is “going to happen with little opposition.” SolerPazos hopes to begin construction later this year.
