Overview

Property ID: ECO20PVH04
  • Commercial, Farm, Projects
  • Property Type

Description

Ricovida Rio Grande was envisioned an exclusive, self-contained 300+ acre community in the near-perfect, year-round climate of the Costa Rican Central Valley. The Project site now contains 250 acres following the sale of 50 acres to the Chucas dam project. With this change the site now overlooks a lake with access to the property over a new well-constructed road and 2 lane bridge, making it an excellent property for investment and development. And more good news, as the property is only 2 kilometers from the new on/off expressway ramp at Balsa, via the new Caldera expressway. The site location is especially well situated with routine shopping only 6 kilometers in Atenas, 22 km to the full shopping experience at Multiplaza in Escazu, and only 16 km to the recently announced international airport at Orotina.
Now in addition to single unit luxurious guest houses and other amenities such as a spa, Ricovida will offer a state-of-the-art fitness center, 24-hour health clinic, shopping on site and recreational opportunities that will include horseback riding, tennis courts, swimming pools, hiking trails and maybe even pickle-ball courts, our site plan includes 6 six story condominium apartment buildings. This adds even greater flexibility to your living needs.
Ricovida will be surrounded by luscious landscaping and scenic views, with the new Rio Grande Lago providing a beautiful, flowing backdrop.
All Ricovida development and construction strategy is intended to adhere to strict “green” principles. Sustainable building techniques and guidelines will assure its status as one of the world’s most environmentally friendly communities and very consistent to Costa Rica philosophies and culture.
An on-site waste-water treatment facility will also be built. The two and three bedroom villas (available with casita (guest house)) will feature distinctive architecture and interiors with the latest electronic technologies. All facilities and villas will embrace an attractive universal design, which will allow easy access for all of our residents.
Ricovida will bring together a strong sense of community, sustainability, health care and educational opportunities. More reasons why Ricovida is indeed the Rich Life.

Property Notations
• Property has 2 approximately equal parcels totaling 104 Hectares
• Using 5000 square meter sites, there approximately 300 buildable spaces
• Architectural renderings provide plans for 6 six-story high-rise residences
• Property is 2 kilometers from Balsa exit on new #27 expressway
• 22 kilometers from largest commercial & shopping center (San Jose)
• 16 kilometers from Orotina (site of recently announced principle new airport)
• Overlooks lake created by hydroelectric dam on Rio Grande
• Assessable by new 2 lane road and bridge

• A Similar development off #27 near prison has been highly successful
• Suitable housing for rapidly growing middle class with limited options

Investment Assumptions
• Safe Financial Investment Climate
• Costa Rica highly stable politically
• Banking system regulations have been no problem (RRG uses Scotiabank)
• US$ exchange is approximately $1 = 600 ₡ (Colons) and used throughout CR
• Growth Opportunity
• Country continues to have a prosperous economy with foreign investment welcomed
• Government Investment in infrastructure (roads, bridges, airports)
• Construction is on the rise following the recession
• Modest inflation
• Taxes are low for RRG, currently $2000 for property & corporate
Utilization of Property
• Utilizing property as a resource holding entity without further investment
• Property should acquire notable increased value due to new airport, new highways and spread of development both industrial and residential toward site.
• Property has potential for passive investment through Carbon Credit Plan from tree planting on non-buildable areas of property
• Even with limited development, location supports sale of only land sites with profitable margins
• Original project plan was for expat residences from US & Europe, but due to demand for domestic housing, immediate construction of dense high-rise facilities adds large potential to original design.
• (Option: Build pilot start-up units as demo for subsequent sale & development.)
Real & Intangible Values
• Property is on one of only three inland lakes in Costa Rica
• Other two sites have had notable development even though not as well positioned geographically to population centers, work locations, transportation and recreation sites as this property (Real estate mantra: Location, Location, Location)
• Wellness, assisted care residencials, elderly care, Tourism with Boutique Hotel, balsa Lake could be positioned as Tourism opportunity.
• Local politicians have been aware & supportive of development project
• Regardless of investment strategy, previous work and connections can expedite return on investment. All prep work done by recognized experts
• Location of property will contribute security for residences, a selling point for many people
• Power & water access support project success. Site will utilize a geophysical survey for water access (in process); site & pricing could also utilize solar power economies
• Other commercial ventures could be available on site (Bring in other partners) CR allows skilled and semi-skilled foreign workers to help build facilities
• Acquiring RRG instead of property alone, allows current property valuation assessment to remain at current low level ($2000)
• Location, generally free of hurricanes & damaging earth quakes
• Strong alternative to other Caribbean locations with infrastructure issues
• New US Tax law provides favorable R.O.I for real estate investment.
Acquisition Options
• The pricing is a 35% reduction from list price
• New airport construction starting in 2018 suggests pricing stability or increase
• To support easy purchase, financing flexibility can be available
• See options chart
• Multiple year buy out
• Partial purchase options with first right of refuse able
• Reduced price with minority silent investor and option to eliminate minority investor
• Low adviser fee available with purchase, (limited duration)
• Consideration of purchaser counter offer

Address

  • City San Mateo
  • State/county Alajuela
  • Zip/Postal Code 20401
  • Country Costa Rica

Details

Updated on November 24, 2020 at 11:37 pm
  • Property ID: ECO20PVH04
  • Price: $3,250,000
  • Land Area: 105 Hectares
  • Property Type: Commercial, Farm, Projects
  • Property Status: For Sale, Reduced Price

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