Loreto Bay Company Creates Sustainable Community In Growing Tourist Destination On Baja Peninsula
The Villages of Loreto Bay Combine Luxury and Ecology, with New Urbanism Focus
Loreto Bay, Baja California Sur, Mexico – The Loreto Bay Company, in partnership with FONATUR, Mexico's tourism development agency, is developing The Villages of Loreto Bay, a series of walkable seaside villages in Baja California Sur. The Villages of Loreto Bay will be the largest community in North America committed to the principles of sustainable development and New Urbanism.
Loreto was one of five areas identified about 25 years ago by FONATUR as a prime tourism destination. In the years since, FONATUR has developed Cancun, Los Cabos, Ixtapa-Zihuatenejo and Huatulco. The focus on Loreto is taking a very different approach.
Loreto is located approximately 700 miles south of San Diego along the Sea of Cortés in Baja California Sur. This $3 billion project, which will be built over 15 years, will create a town of approximately 6,000 homes in pedestrian-oriented, car-free neighborhoods with the use of bicycles and photo-voltaic powered electric carts as primary transportation. The project includes development of a world-class Beach Club, Golf Club, plus space for retail, entertainment, artisans' village and recreational facilities. Of the 8,000 acres encompassed in the master plan, 5,000 acres will be maintained as a natural "green lands" preserve. This area will have trails for hiking, cycling and horseback riding, plus areas for organic farming and orchards.
Homes at The Villages of Loreto Bay are constructed primarily of adobe block, compressed earth that provides energy efficient heating and cooling. In the Founders' Neighborhood, design options include Village homes, condominiums and custom beachfront and golf course villas all designed in Spanish Colonial style architecture. Private and public courtyards combined with lush native landscaping provide a natural and beautiful cooling effect.
"Our vision is to create a peaceful, authentic Mexican community that preserves and enhances the integrity of the environment and allows people to experience the natural beauty of this seaside village," said David Butterfield, president of The Trust for Sustainable Development. "Loreto Bay is sure to attract those looking to embrace the casual, outdoor lifestyle of Baja."
The ecologically sensitive area of Loreto Bay is bounded by the vast Sierra de la Giganta Mountains on the West and beautiful Sea of Cortés on the East. Just off shore, the largest national marine park in Mexico ensures the waters continue to teem with a wide variety of sea life. The Sea of Cortés is the nursery of the blue whale and home to sea lion, turtle, dolphin, yellow tail, dorado, rooster fish, sea bass, tuna, bill fish and sardine.
To protect and enhance the environment, Loreto Bay will harvest more potable water than it consumes, through re-use, groundwater retention and de-salinization. The community will create, through solar or wind power, more energy than it uses and will enhance the habitat and nurture the bio-diversity of the land it occupies. In addition, the new community will foster economic opportunities for the region in the form of housing, planning and training, as well as the creation of jobs and business enterprises for the local community.
"It is our goal that Loreto Bay set the standard for sustainable developments around the world," says Jim Grogan, president and CEO. "Our focus is on conserving energy, reducing water consumption, solid waste materials and air pollution, as well as creating economic opportunities through new jobs and local businesses."
Loreto Bay Company has sold more than 270 homes totaling approximately $135 million in its first 18 months. One percent of each sale is donated to the Loreto Bay Foundation, a non-profit dedicated to serving the economic and social needs of the historic town of Loreto as it absorbs the impact of this development. The first donations were used to acquire equipment and enhance services at Loreto's hospital.
This level of commitment comes from Loreto Bay Company's three principals. Chairman David Butterfield is also president of The Trust for Sustainable Development, the parent company developing Loreto Bay. His experience in and commitment to sustainable development and New Urbanism have established the vision for Loreto Bay. Grogan serves as president and CEO and brings more than 25 years' experience in law and real estate development. Tom Nolan, principal and CFO, joined Loreto Bay Company from AEW Capital Management, where he served as Principal and Head of Private Equity.
About The Loreto Bay Company
The Loreto Bay Company, headquartered in Scottsdale, Arizona, is developing The Villages of Loreto Bay, a series of seaside villages in walkable neighborhoods built near the historic fishing village of Loreto, Baja California Sur, Mexico. The Villages of Loreto Bay will be a showcase for sustainable development practices. Founded in 2003, the company is led by Chairman David Butterfield, President and CEO Jim Grogan and CFO Tom Nolan. For more news and information, visit www.loretobay.com.
Source: The Loreto Bay Company