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Infrastructure in Loreto by Fonatur, Baja California Sur, Mexico
Notice the street lamps
FONATUR Development in Loreto
Living in the Baja is getting better and better by the day. More than half a million American citizens live in Mexico. With a population of only 14,000, the beach town of Loreto has been chosen by the Mexican federal tourism agency FONATUR for development as a resort town because of Loreto's unique beauty, gentle warm climate and perfect location. Similarly endowed well known cities like Cancun, Los Cabos and Ixtapa have already benefited by FONATUR development and as a result, those resort towns have experienced a boom in tourism and exploding price appreciation.
$200,000,000 Loreto Infrastructure
For the past several years, Loreto has received over $200 million in government money to improve the infrastructure in Loreto. Now, Loreto is on its way to becoming a tourism hotspot. Those of us who have been coming to Loreto for over twenty years will tell you that this is a remarkable departure from the past.
New Loreto Infrastructure. FONATUR has recently re-paved the main streets in Loreto and installed new drainage and sewer lines. In part, red brick surfacing was used instead of asphalt for aesthetic reasons. In certain neighborhoods, they have installed streetlights. At important intersections, there are new signal lights. Certain housing layouts, such as the location of the lots offered for sale in this website, have city services such as underground water and sewer and above ground electricity and telephone lines, paved streets and concrete sidewalks. FONATUR has put in new roads, utilities, and water treatment plants. Loreto has its own international airport and is less than a two-hour flight from Los Angeles. Loreto's infrastructure reflects the best in modernization coming to Baja California Sur, Mexico.
New Marina and Hospital
Loreto's new marina
As a great boost to Loreto's infrastructure, a few years ago, FONATUR built a new marina in Loreto plus two hotels and a golf course. Just this year, a brand new state-of-the-art hospital was finished, complete with an emergency room, just several blocks from the lots offered for sale in this website. New hotels are popping up and you can see construction on several big hotels right in town and on the boardwalk by the beach. For years, Loreto had only one Bancomer bank branch, located next to the mission, downtown. As of this year, several new Bancomer branches have been completed and now two other banking institutions have opened branches in Loreto in addition to Bancomer.
Loreto's new hospital completed in 2008
Sustainable Planned Development
One of the very unique features of FONATUR's plan for the infrastructure in Loreto, is that the plan will be very different and very forward looking. It will be a "sustainable" way of developing the town to improve the quality of air and water. With the guidance of FONATUR, the regional plan for the development of the areas surrounding Loreto stipulates low rise buildings with designated areas for hotel districts that do not block off beaches, pedestrian friendly villages with no cars and plenty of shopping opportunities, and where commercial districts will go.
Affordable Beach Front Property
There's really no affordable beachfront property left in southern California. Loreto is still a relatively undeveloped area with low prices in comparison to Los Cabos, Cancun, and California beach locations. Relaxed zoning requirements make it easy to do development in Baja, and keep Loreto sustainable and livable. Developments in Loreto are 1/3 the cost of projects in Cabo, and a sixth to an eighth of the price in southern California. Demand for properties in Loreto is increasing as high prices in Los Cabos and in California soar out of reach. It is quite obvious to everyone here that more and more people are coming to Loreto to buy homes and to live and retire here. Loreto wants more foreign investment in the city. As prosperity in the form of tourism and real estate investment comes to the town, more and more businesses are needed to meet the demand for more goods and services. This is what has been going on for the last year and a half. That means prosperity for the locals and that’s good for everyone. The recent investment in infrastructure in Loreoto has made all this possible.
UPDATE 2009 - Recent worldwide financial problems has changed the brisqueness of development in the Baja. As economies around the world and more specifically the faltering economy of the USA are slowing down significantly, the real estate market and rate of real estate development in the Baja is slowing. The result is that the rapid appreciation of Baja real estate has halted and prices have stabilized. There some evidence of dropping prices of real estate, but not by much. While prices for real estate in the USA have dropped by as much as 50% more or less around the country, prices in the Baja have only stropped appreciating and in some cases dropped a little. The number of sales of properties in the Baja have dropped, but the prices haven't dropped by much, if at all. The reason for the modest drop in Baja prices is that, by comparison to beach town property in the USA and around the world, Baja beach property is still low. Similar beach town property in the USA is still 3 to 6 times more expensive than that in the Baja. Let's face it, beach property in the USA is held by the wealthy and since beach town property is tied to worldwide pricing, the wealthy around the world and in the USA still have the money to pay for it, especially lower priced beach property in the Baja. The real bargains are found in the properties that are farther away than 1/4 mile from the beach. See description of these properties at the following lings: Home Prices, Home Finding, TOP
Opposing views of the Loreto beachfront boardwalk aka, the "Malecon"