Costa Rica Real Estate
Beautiful Development Parcels - Tamarindo Vistas
Location:
Tamarindo Vistas is a development project with a total of 450 acres of land, located in the northwestern Costa Rican province of Guanacaste, the fastest growing area of the country. It was assembled from the purchase of 4 adjacent farms from 4 different sellers over the past 3 years. The Project is located in the hills behind Tamarindo, next to the village of Santa Rosa. It is 4.5 miles
from the ocean by line-of-sight with many good ocean views. When driving, Tamarindo Vistas is: 12 minutes to the beaches of Tamarindo, 10 minutes to Hacienda Pinilla,8 minutes to the Tamarindo airport, 15 minutes to the Flamingo Beach marina and 50 minutes from the new Liberia International airport.
Development Plan and Project Permits:
The Project is divided up into 5 parcels, A-E, and will have a total of 256 lots. The developer/owner, Terry Huggins, has had a complete survey done for the entire Project as well as a topographical study to 3 feet (1 meter). Using this information, as well as a professional engineering company, the developer has mapped out a complete road system as well as designing the best location for each proposed lot. During the past year the developer has constructed 3.5 miles (4.5 km.) of roads for parcels A-C as well as a high quality drainage system. Most of the lots in Parcel A have just been legally segregated. As there are no zoning restrictions on the property, all lots can easily be segregated within about 4 months time. All roads and tree cutting that have been done on the Project were done with proper permits. The developer imported a $40,000 wood chipper from the U.S. to environmentally dispose of trees that were removed instead of using burning or leaving large piles of cut trees lying around the project. No trees greater than 5” in diameter were removed. The project has been done professionally and is neat and clean in appearance.
Project Water Supply:
The Project has a contract with the water municipality in the nearby village of Santa Rosa to provide water for the lots and homes. The developer has installed a water transmission line that runs directly from the municipality’s water system to a holding tank on the Project. The holding tank has been filled with water from the municipality’s system. Additionally, a well was permitted, drilled and registered next to the Project holding tank. The well provides 1.5 liters per second and the municipality’s water transmission lines to the Project’s holding tank provides another 3 liters per second for exclusive use by the Project. The developer’s contract with the municipality specifically prohibits any other user from ever being able to use the Project’s transmission line to the holding tank, any water in the holding tank or any water from the adjacent Project well. Securing the Project’s water supply with the municipality was a significant achievement, took 18 months to accomplish and is critical for a development in Costa Rica
Appraisals:
The Project was appraised, ‘as is’, by a licensed Costa Rican appraiser on April 28, 2008 for $17,450,000, or, $9.75/square meter. Even though this appraisal was done prior to the market down turn, it did not take into account having any of the lots legally separated or the infrastructure that is completed.
Pricing:
The following prices are per parcel and may be lower for the purchase of more than one parcel.
PARCEL A: $ 1, 460,000 ($5.69/SQ. meter and equals $27,000/lot)
PARCEL B: $ 940,000 ($5.10/SQ. meter and equals $23,500/lot)
PARCEL C: $ 1,590,000 ( $4.45/SQ. meter and equals $27,900/lot)
PARCELS D/E: $ 2,240,000 ($2.24/SQ. meter and equals $21,300/lot)
Depending on the parcels purchased the owner may be able to supply some seller financing.
For Project Maps with Lot Sizes, Topographies and Views
Ocean and mountain views - Internal roads - Legal water connection
Electrical service - Public road access - Development plans for 5,000 m2 lots
A short 10 minutes to Tamarindo
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All information presented here and in these sites is proposed and is subject to change or elimination by the Owner or Developer at any time without notice. The questions and answers on this website are for informational purposes only. All questions and answers proposed are subject to any change without any notice.
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