Tamarindo Paradise Resort Development
Full property description
Tamarindo Paradise Resort Development
1) Resort Development Platform – Investor Ready
Tamarindo Paradise is a gated, 7-acre opportunity that can support a range of development scenarios beginning with a family retreat or business center, and increasing in intensity through luxury private homes and secluded townhomes, to high-rise condominiums. The property/improvements already includes:
a) A spectacular resort pool/deck/group jacuzzi core at is heart,
b) 2, Two-bedroom vacation villas overlooking the resort pool,
c) 6, One-bedroom guest suites,
d) Regulation sports courts (tennis, basketball),
e) Restaurant/Bar with covered outdoor seating/event area,
f) Deluxe Office Suite near entry,
g) Administration Building near entry,
h) Gated Entrance with guardhouse,
i) Well approved to 5 liters/second,
j) 60% of land uncommitted and available for development,
k) Record of prior approvals for high-rise condominium project (must be renewed).
2) Resort Location – Strategic Advantages
Tamarindo Paradise is located at the gateway to Tamarindo and on the emerging development corridor between it and Villarreal. The advantages include being a 2-3 minute drive from the center of Tamarindo, with its beaches and attractions, while also enjoying a quiet, secluded setting away from the hubbub of this global tourist destination. The location features:
a) Easy, paved road access to Tamarindo by car, taxi, bus, bike, golf cart, etc.,
b) Sloping site with sunset views to west, and possible ocean views from upper floors of development,
c) Current Tamarindo Airport in close proximity with anticipated golf course development,
d) Very convenient access to Villarreal with multiple retail options and services,
e) 15-minute drive radius to golf courses, other mega resorts, and commercial centers,
f) Large development potential with significant investment in amenities, not available in central Tamarindo.
3) Resort Development Scenarios
Tamarindo Paradise, with its existing features, can be plugged into a number of development scenarios, depending upon the goals of a future owner. These include:
a) High-Rise Condominium Project – This original plan for approximately 140 condominium residences was approved and ready to proceed before 2009 market conditions led the developer to cancel the effort. In the current improving market, this scenario may again become feasible.
b) Townhome Retreats – The creation of 80-100 townhomes, designed as mini-retreats with private pools, can be accommodated on the available land around the common area amenities. This residence category is attractive to retail investors seeking an oasis near to Tamarindo’s activity, but not needing to live within it.
c) Private Home Community – Approximately 20, luxury, single family homes could be attractively positioned on the Tamarindo Paradise property around the existing amenities with private yards.
d) Legacy Investment – This property could become a legacy investment for a large family or corporation with an interest on a long-term presence in Costa Rica near the beach for vacations, relocation and retirement, or executive retreats and meetings.
e) “Hold and Enjoy” – The available vacation accommodations and intrinsic value suggest that a family or a corporation could “bank” this property, and enjoy it as it is, until a preferred development scenario or resale opportunity emerges.
4) Project Financing
Tamarindo Paradise has already been reviewed by Commercial Lending Capital, a Costa Rica funding company, and they are ready to work with qualified, candidate investor/developers, to explain options for project financing.
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