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Punta Mita Update – Fall 2008

Created by DINE, the Mexican real estate developer, Punta Mita is a gated resort and residential community sited on Mexico’s Bahia de Banderas Peninsula, with nine and half miles of Pacific Coast shoreline. This season Punta Mita will expand its resort, leisure and real estate offerings with new openings that include the St. Regis Resort Punta Mita and a second 18-hole Jack Nicklaus Signature Golf Course.

The St. Regis Resort Punta Mita, opening November 2008, will join the Four Seasons Resort as the second international luxury hotel brand within the private gated community. The new resort will offer 120 guest rooms. Guests and owners will enjoy a 10,000-square-foot spa and fitness center, two restaurants, butler service and a private beach club with a poolside grill.

Punta Mita’s second 18-hole Jack Nicklaus Signature Golf Course, Bahia, will open for play in November. Like the original Jack Nicklaus championship course, Pacifico, the second eighteen holes will offer challenging fairways and greens amidst magnificent ocean views and dramatic vistas that weave in and around the strategically sited St. Regis and other luxury residential communities.

The initial phase of the expansion of Punta Mita’s Tennis Center was completed in September 2008. Managed by Four Seasons and Peter Burwash International, the upgraded facility will ultimately offer 10 courts – a combination of hard surface and synthetic grass courts lighted for evening play. The first phase consists of four courts plus a new apparel and equipment shop as well as men’s and women’s locker rooms.

Punta Mita’s second Residents’ Beach Club is opening in the community of Kupuri in 2009 and will serve all residents and renting guests. The oceanfront Club will offer a series of pools, dining options, event facilities and a specialized children’s activities area, among other amenities.

New Punta Mita developments available to buyers, many with enhancements underway, include Ayia Punta Mita. Developed by Chicago-based Emini Equities, this 27-unit boutique residential community complete with a stunning reception and concierge center, sexy poolside deck, gourmet bistro and intimate fitness and yoga center, is designed by renowned Mexican architect Jose “Pepe” deYturbe. Each of the fashionable two-bedroom condominiums transport the indoors out and the outdoors in with a generous use of glass and an expansive terrace. Prices start at $700,000, with 0% developer financing for a limited time, no origination fees, and immediate approval. Properties will be ready for occupancy in November 2008.

Las Cañadas is an enclave of large private mountainside casitas located in a wooded setting like no other on the peninsula. Casitas are priced from $1.45 million to $2.35 million, and offer panoramic views of the gorgeous Jack Nicklaus Signature Golf Courses and Pacific Ocean. During the first three months of sales, six of the 14 available properties have been sold (or are in closing).

At Porta Fortuna, two-story, three-bedroom “Zen Casitas” offering some 4,000 square feet of indoor and outdoor space, as well as luxury condominiums, will be available in late 2008. A new private beach club, Playa Fortuna, will also open, providing immediate access to Punta Mita’s surrounding waters. It will feature a palapa-style gathering spot, a full-service restaurant called Sufi, a bar, sleek saline pool, swinging daybeds, comfy puff pillows, lounge chairs, and several semi-private nooks and social areas.