? Is this what $700k buys you in Washington? |
| No Commercial Real Estate Bubble ?
February 19, 2006
Welcome to the Jungle--Costa Rican style
Imagine a master planned community without the acres of cookie-cutter housing and (insert name of over-the-hill pro)-designed golf course. That's what hotel entrepreneur Hal Wright--he of the Homewood Suites and Extended Stay America chains-- is doing with his Punta Dominical http://puntadominical.comdevelopment on 1,000 acres of Costa Rican beachfront. Half of the 150 units, which range from $330,000 villas to $1 million custom-built homes, have already been sold. Wright's building on just 10% of the land and leaving some of the roads unpaved, so everyone will get a feel-good, eco-friendly vibe. Sounds like paradise to me.
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