Puerto Rico's First Luxury 5-Star Beachfront Community is Thriving Amid a Global Slowdown

Puerto Rico's First Luxury 5-Star Beachfront Community is Thriving Amid a Global Slowdown

Residential News » Residential Real Estate Edition | By Michael Gerrity | September 4, 2009 8:30 AM ET

(BAHIA BACH, PUERTO RICO) -- Located just under the foothills of the tropical rain forests of El Yunque is a thriving upscale 483-acre, master-planned beachfront resort and golf community with two miles of private beachfront on the northeast coast of Puerto Rico called Bahia Beach Resort and Golf Club.

It is a new mixed-use development by Interlink Group and Munoz Holdings that has just completed the first phase of a planned three-phase development and construction build-out over the next five years worth over $800M.

The recent completion of phase one created four distinctive vacation home neighborhoods within their high-security gated community that include Las Verandas, Las Olas, Las Ventanas and St. Regis - Las Estancias.

In addition it also included a new Robert Trent Jones, Jr. oceanfront championship golf course and club house that was recently voted by the Robb Report as the "Best of the Best."

They offer a variety of residential product mix ranging from 1,700+ s.f. golf front villas and condos from $700,000, to custom-built 10,000+ s.f. luxury oceanfront and golf front estate homes for as much as $10M.

St. Regis Residences - Las Estancias, their most upscale estate homes community, already boasts having two world-class sports celebrities as homeowners: Carlos Beltran of the New York Mets and boxing's "Golden Boy" Oscar De La Hoya.

There is a maximum of only twenty-five luxury estate homes that are going to be built in St. Regis - Las Estancias neighborhood, which is bordered on three sides by the championship golf course and the ocean on the north side.

Phase two of construction calls for the development of a $170M luxury 5-Star St. Regis Resort Hotel (currently under construction for a Q3, 2010 opening) that will feature 139 luxury hotel suites, a Remede Spa, world renowned chef Jean Jorges Restaurant, upscale shopping and art gallery along with their own private beach area - all inside Bahia Beach Resort and adjacent to the beachfront golf course clubhouse. This will be Puerto Rico's first 5-Star resort located on the island.

Bahia Beach Resort is also being developed in a very eco-friendly manner with a Certified Gold Audubon International Signature Sanctuary designation. Signature certification is awarded only to new developments that are designed, constructed and maintained in accordance to Audubon International's precise planning standards and strict environmental criteria.

In a one-on-one sit down interview with Interlink Group President Federico Sanchez-Ortiz, he told the Real Estate Channel the reasons for their current sales success amidst a global economic slowdown (51 closings and 18 more under contract to close shortly, out of a total of 138 initial home/condo/villa units in phase one - as of this report's posting date) was because of several key factors that went into the pre-planning of their project.

Federico Sanchez-Ortiz commented, "Bahia Beach started off with several brainstorming sessions with some of the best and brightest real estate, finance, environmental, resort and golf minds available. These brainstorming sessions coupled with upscale brands, experienced and well-funded developers, prudent capital structures to mitigate against risk [Puerto Rico's Government Bank provided a $120M construction loan for the St. Regis Hotel component], and a truly unique location with easy airport and flight access to many U.S. cities made this project as successful as it is today."

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