Aug 13, 2012

Encanto for Sale in Pavones, Costa Rica: What's included with the land provides enormous value

Summary:

Encanto, Costa Rica, is a planned development of  vacation homes near Pavones.

Encanto is the only titled and permitted multi-unit project in the area of Pavones, Punta Banco and Zancudo, Costa Rica.

The project includes
  • 58 acres of ocean view property on the southern Pacific coast,
  • evergreen construction permits for seven residences in the phase one parcel ("Phase I"),
  • the Encanto trademark and
  • the Webby-award winning web site www.EncantoCostaRica.com.



The project is currently permitted for immediate groundbreaking in Phase 1 with 7 residences.

The 7 residential units have separate titles and can be sold as condominiums.  Alternatively, title can be held under one owner for a luxury, boutique hotel.

Aqui Volvere S.R.L. is seeking a buyer with access to long-term equity capital and construction financing to unlock the potential of the property as a boutique hotel managed by a hospitality provider, a mixed use hotel and condo residence, or an exceptional private estate.  Aqui Volvere S.R.L. will accept purchase of the property and its assets in its entirety, or is available to consult with new owners for future development.

Encanto is one of the few large pieces of land available in an area that is still pristine and underdeveloped.  Encanto has multiple building sites on natural plateaus, ocean views, clean drinking water and incredible natural beauty.  The site has almost half a kilometer of road frontage for high visibility and easy access.  The site contains a natural artesian spring, which has been enclosed within a 25,000 liter cistern.

The building permit has been obtained for Phase I and is evergreen, i.e. without expiration date.  For a new owner to begin construction, the only requirement would be to update the filing fee to reflect any change in estimated materials costs.  The Phase I permits allow for construction to be adjusted up or down by 10% on a square meter basis.  Alternatively, a new owner could apply for a building permit for a different building and master plan of their own design.

The permitted residences of Phase I include one 5-unit multi-family building, "Miradores" that contains a food and beverage service area, and one 2-unit building, Aguas Verdes, and various outbuildings including a guard house.  The residences were designed by Brain R. Neumann, AIA (American Institute of Architects) of Berkeley, California.

A furnished sales office exists at the entrance to the property and comprises one large receiving room and office, one large enclosed storage area for materials and equipment, a side room to serve as an employee or guard house, spacious covered terrace and finally a wash closet / restroom.

Pricing and Details:

Aqui Volvere S.R.L. is offering the development project for $1.2 million, which includes the fully titled 58 acre property (23 hectares) with several ocean view sites; on-site sales and construction management office; building permit for the construction of 7 residences in the 2.8 acre phase one parcel; the Encanto trademark name registered for use in vacation residences in Costa Rica; and the Webby award-winning Encanto web site at www.EncantoCostaRica.com.

Local Area

Encanto is located in the town of Cuervito de Pavones and overlooks the Golfo Dulce, a rare tropical fjord.  Encanto is near the world-famous Pavones surf break, one of the top surfing spots in the world.  The broad Pavones area has surf breaks for all levels, from beginner to expert. Kite-surfing and standup paddle boarding have also taken root in the area. The area is also frequented by birders and nature lovers.  The Golfo Dulce is a renowned sport fishing destination, where anglers can find billfish, tuna, red snapper and rooster fish.

The water temperature is approximately 27 Celsius (80 degrees Fahrenheit) year-round.  A five minute drive from Encanto brings visitors to public access beach areas, where one can walk for miles along soft sand without seeing a single high rise or hotel.  The area's beaches are protected by a strict zoning law which forbids ocean-front construction.

The local area has a significant expatriate population of second home owners from the United States and Europe.  While demand for higher end properties has continued through the recession, there is a very limited supply of homes that meet buyers' standards for design and quality.

Exceptional design by San Francisco area architect

The phase one parcel includes 2.8 acres (1.13 hectares) with spectacular views of the Golfo Dulce.  On this parcel, seven exquisitely designed residences have building permits from the Municipality of Golfito.  These are the Miradores jungle lodge, which contains five residential units and a food and beverage caf√©, and the two unit Aguas Verdes duplex.

Mr. Neumann said, "The design of Miradores is influenced by the Hacienda movement that spread from Spain to Costa Rica's coffee plantations, and Aguas Verdes is inspired by the lowland plantation homes of the pineapple barons."  The residential units are designed with energy saving and sustainable features.  Perspectives and elevations are available on-line at www.EncantoCostaRica.com/residences.html.

Access and infrastructure

The 58 acre (23 hectare) property is fully titled and transferable.  The property has 450 meters of public road frontage, giving the project excellent access to electricity, telephone service and internet connections. In accordance with the Central American Free Trade Agreement, Costa Rica is opening its telecommunications market to competition, which will further enhance communications options.

Health care

A health clinic is located in the town of Comte, a fifteen minute drive from Encanto.  Regional hospitals and private health clinics in Golfito (1 1/2 hours by car) and Ciudad Neilly (2 hours by car) offer outpatient and emergency services.  While 1 1/2 hours may seem "far" for a hospital, it is comparable to many rural and resort areas in the United States; e.g. in Montauk, New York, one has to drive 1 1/2 hours to reach Southampton hospital.

Physical site, natural resources

Encanto's 58 acres (23 hectares) sit at an approximately 100 meter elevation.  There are 11 identified building sites on rolling pasture.  A mile-long hiking path winds through the large green areas set aside for wildlife habitat and nature exploration.  These areas include primary and secondary forest and a natural waterfall and swimming hole.  Titi monkeys, white face monkeys, sloths, armadillos, toucans, and parrots are some of the wildlife that call Encanto home.

Encanto has abundant sources of drinking water.  A 25,000 liter cistern encloses a year-round artesian spring within the phase one parcel.  Water sources for future phases of development are available throughout the property.

Links:

The Encanto marketing website, winner of a Webby Honoree.  Flash introduction, front page modified to reflect "for sale" status.

Map of Encanto's location

Interview with Brian R. Neumann AIA, Supervising architect for Encanto

Architectural perspectives and floor plans for the 2-family Aguas Verdes home. (1.65MB download)

Architectural perspectives and plans for the 5 unit Miradores jungle lodge (3.61 MB download)

Local area news:  www.GoodMorningPavones.com

LaMagna Neumann Development, Inc. is a real estate development and marketing company in Berkeley, California.  For more information send an e-mail to lisa.lamagna@encantocostarica.com.