Ocean, Litigu Bay, and Banderas Bay

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Phebe Wilkins
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2 60 oceanhomemag.com september + october 2009

3 Point break Jutting out into the Pacific and surrounded by miles of beaches, Punta Mita is luring Americans south of the border once again with luxurious oceanfront living in what could be Mexico s next tropical success story. By Alyssa Giacobbe 61

Since its development in 1999, Punta Mita a 1,500-acre gated resort and residential community on the Pacific coast of Mexico has become known as a place where celebrities, VIPs, and everyday

4 Since its development in 1999, Punta Mita a 1,500-acre gated resort and residential community on the Pacific coast of Mexico has become known as a place where celebrities, VIPs, and everyday sunseekers can escape without the risk of running into the spring break crowd (or, for that matter, the paparazzi). Just 30 minutes north of Puerto Vallarta, Punta Mita s nine and a half miles of sandy white beach get put to good use, as the area boasts 340 days of sunshine a year and average temperatures of 80 degrees. Fifteen years ago, Mexico-based developer DINE purchased the peninsula which overlooks the Pacific Ocean, Litigu Bay, and Banderas Bay and offers views of the Sierra Madre Mountains from the Mexican government with a high-end resort community in mind. About $150 million later, there are nearly a thousand condominiums, villas, and private homes (some still in progress) that have thus far appealed to a largely American clientele (85 percent of property owners here are from the United States, 10 percent from Canada, and 5 percent from the rest of the world). Twelve separate communities offer home options ranging in price from $750,000 to $14 million. What makes Punta Mita most desirable, say its developers, is its homes price-to-size ratio, with ocean view residences costing an average of $700 per square foot less than those in comparable upscale communities in Los Cabos, Hawaii, the Bahamas, and Costa Rica. The area s two luxury hotels The Four Seasons and the St. Regis also offer privately owned villas and bungalows, and two other upscale hotels are expected to open within the next few years. And while a constant flow of new visitors help keep property resale values at a premium, clearly, homeowners come for Punta Mita s country-club feel. Amenities available to all Punta Mita residents, following a mandatory, one-time $75,000 club fee, include two 18-hole, Jack Nicklaus-designed golf courses; a tennis center; an equestrian facility; and three residents beach 62 oceanhomemag.com september + october 2009

Between the downturn in the US and Mexico s own share of recent bad press, developers are for the first time offering

clockwise from above: Sea kayaking along the coast, spectacular sunsets, ocean breezes, family-friendly beaches, and

Opposite page: If there s one thing that s in abundance here, it s relaxation.

families, alike. clubs. Slated to open in 2010, the Mii Amo Spa will feature guestrooms and residential condos.

in-development properties. That s not to say property values aren t increasing; they are.

5 Between the downturn in the US and Mexico s own share of recent bad press, developers are for the first time offering belowmarket financing rates. clockwise from above: Sea kayaking along the coast, spectacular sunsets, ocean breezes, family-friendly beaches, and great golf at Pacifico all await you at Punta Mita. Opposite page: If there s one thing that s in abundance here, it s relaxation. previous spread: The rocky coastline of Punta Mita offers plenty of recreational opportunities for couples and families, alike. clubs. Slated to open in 2010, the Mii Amo Spa will feature guestrooms and residential condos. Between the downturn in the US and Mexico s own share of recent bad press, developers are for the first time offering below-market financing rates and, in some cases, zero percent financing for the first two years for both existing and in-development properties. That s not to say property values aren t increasing; they are. Sales shot up by 30 percent between 2006 and 2007, and $700,000 condos are already commanding $900,000 in resale. As Andres Rossetto, Managing Director of Resort Development for Punta Mita and DINE, is quick to point out, Mexico

6 clockwise from above: Surfers love Punta Mita; the view from the Four Seasons; the coast offers great hiking; yoga at sunset; the entrance to the Four Seasons; views from a bedroom and the pool at Ayia Punta Mita. Opposite page: After a long day of activities, there s no better way to relax than a dip the pool. Of course, sunbathing poolside is also a great way to spend an entire day.

has long experienced a stable economy and a healthy banking system, with no mortgage crisis issues, controlled inflation, and, best of all, low property tax.

7 has long experienced a stable economy and a healthy banking system, with no mortgage crisis issues, controlled inflation, and, best of all, low property tax. Twenty-four-hour guarded gates help ensure privacy and safety, but the atmosphere within Punta Mita is still authentically Mexican. Wildlife includes monkeys, the occasional jaguar, and 180 species of birds, while Puerto Vallarta with all its cuisine, nightlife, and co-eds is a mere 30 minutes away. Developers are also at work on a Punta Mita town center, designed to provide the area with more soul and, perhaps, a convenience store. There are a dozen communities within Punta Mita, each offering housing options at a range of costs and in a variety of aesthetic tastes. Porta Fortuna Situated on 14 acres overlooking the Pacific Ocean, Porta Fortuna is made up of 30 three-bedroom condos, 13 oceanfront estates ranging from 6,000 to 8,000 square feet, and 14 casitas, all of which feature Italian ceramic flooring, Miele and Viking appliances, and Scavolini Italian kitchen cabinets. Residents have access to Playa Fortuna, a private beach and yacht club, as well as the full-service restaurant and lounge Sufi, and a saline pool. Its developer offers financing on a selected inventory of completed residences that require a 30 percent down payment with five percent interest for 36 months , portafortuna.info. El Encanto Positioned between Banderas Bay and one of the Nicklaus courses, El Encanto features 54 threeand four-bedroom villas and condos with ocean and golf course views that range in size from 4,000 to 7,200 square feet and in price from $1 to $3.4 million. The look here is high-end Mexican contemporary with tropical wood accents. As with most Punta Mita developments, units can come furnished or unfurnished, with interior designers on hand to assist those who opt for the latter. Current developer financing on september + october 2009 oceanhomemag.com 65

8 Twenty-four-hour guarded gates help ensure privacy and safety, but the atmosphere within Punta Mita is still authentically Mexican. clockwise from above: Ocean view residences in Punta Mita cost an average of $700 per square foot less than those in comparable upscale communities in Los Cabos, Hawaii, the Bahamas, and Costa Rica. Now, that s a reason to celebrate at El Encanto. Opposite page: Snorkel, relax by the beach, or simply admire the lush landscape poolside in Punta Mita new El Encanto residences include five percent interest for 36 months with a 30 percent down payment , elencanto-puntamita.com. Ayia Developed by Chicago-based Emini Equities, Ayia ( sacred place in the ancient Greek language) offers one of the best deals going, with zero percent financing for 24 months after a 30 percent down payment. The 27- unit community features a 24-hour concierge center, poolside lounge area, gourmet bistro, and intimate fitness and yoga center. All units are two-bedroom condos (from $700,000) designed by renowned Mexican architect Jose de Yturbe, and make equal use of both indoor and outdoor space, a feature of many Mexican homes ( just beware of the jaguars) , ayiapuntamita.com. Las Palmas Designed to be the community s most affordable option, Las Palmas features one- or two- story properties with three and four bedrooms, many with private pools and views of Banderas Bay. Amenities include gourmet kitchens, outdoor showers, granite slab countertops, exterior wet bars and grills, and wi-fi. Now in progress, Las Palmas Pacific Villas, four-bedroom and four-bath luxury condos, will appeal to the more upscale, with prices starting at $1.5 million , laspalmaspuntamita.com. Kupuri Currently in development, Kupuri is poised to be Punta Mita s most elite community to date, with 15 homes each boasting ocean views and special owners-only amenities, including the intimate Tuka Beach Club and yacht 66 oceanhomemag.com september + october 2009

pier, as well as a mountainside Sunset Bar accessible only via tram. The community will also feature a shared Residents Beach Club. Prices range from $2.3 to $7.

Four Seasons The Four Seasons Punta Mita, which opened in 1999 as the area s first development, offers 173 guest rooms in tile-roofed Mexican-style casitas set along the Pacific Coast, some with

The hotel also contains 55 private villas and 25 two- to four- bedroom residence club units, many of which are available as shares (prices start at $200,000 for a one-twelfth share).

com. St. Regis Less than a year old, the St.

9 pier, as well as a mountainside Sunset Bar accessible only via tram. The community will also feature a shared Residents Beach Club. Prices range from $2.3 to $7.1 million with certain developer financing options available , kupuripuntamita.com. Four Seasons The Four Seasons Punta Mita, which opened in 1999 as the area s first development, offers 173 guest rooms in tile-roofed Mexican-style casitas set along the Pacific Coast, some with beachfront access. The hotel also contains 55 private villas and 25 two- to four- bedroom residence club units, many of which are available as shares (prices start at $200,000 for a one-twelfth share). Private villas start at $3.5 million. All feature amenities are available to hotel guests, including room service, private chefs, on-call transportation, and maid service , fourseasons.com. St. Regis Less than a year old, the St. Regis features the hotel chain s typically lush environs: a 10,000-square-foot spa and fitness center, two restaurants, a golf course, tennis courts, butler service, and a private beach club with a poolside grill. The hotel offers 120 rooms, while 65 private villas are available for both fractional and whole ownership, starting at $300,000 for a one-twelfth share , stregis.com. Sayulita Fifteen minutes beyond the gates of Punta Mita, the town of Sayulita has evolved into a place populated by surfers and, increasingly, retirees. stay Villa Amor has 23 villas scattered up the mountainside, some with individual plunge pools, and all with views of the sea , villaamor.com. The six-room Moroccan-inspired Petit Hotel d Hafa features Pop Art décor and impeccable service for very reasonable rates , sayulitalife.com/hafa. eat Choco Banana is the de facto town center; if you re looking for someone, chances are you ll run into him or her here. Go for the breakfast burritos, strong coffee, and the eponymous frozen treat At Sayulita Fish Taco, order the handmade stone-ground tortilla with super-fresh fish. Local: , sayulitafishtaco.com. Don Pedro s features a Cuban salsa band whose Tuesday night performances draw a diverse crowd , donpedros.com. shop Belying its more rustic surroundings, the luxe Pachamama deals in home accessories and high-end bohemian-inspired jewelry made by co-owners Nathalie Mignot and Laurence Mignot Hodge. lesgazelles.com. At Gypsy Gallery, Guatemalan textiles and Oaxacan pottery satisfy those looking to take home something more salt of the earth , sayulitagypsy.com. september + october 2009 oceanhomemag.com 67

Located on fourteen acres of prime oceanfront land within the private Community of Punta Mita, Porta Fortuna combines stunning landscapes, calming

Located on fourteen acres of prime oceanfront land within the private Community of Punta Mita, Porta Fortuna combines stunning landscapes, calming water features and inspiring indoor and outdoor living.