The project is to be implemented in the best and safest city for living in Mexico, on a 308 acre lot. The investment represents 35% of the equity of the project. The first stage considers the construction of infrastructure and 60 houses. The goal is to reinvest the profits to finance the stages following.
San Miguel de Allende (SMA) is mainly a tourist city located 155 miles to the north of Mexico City. SMA is a favorite place of Canadians, Americans and other international citizens to establish their temporary or permanent residence, because of its cultural life and the warm and pleasant weather. On July 7th 2008, SMA was declared Cultural Patrimony of Mankind.
SMA is located in the Bajio region of Mexico, connected to main roads and international airports.
Distance in miles from SMA to:
Mexico City - 155
Queretaro - 30
Bajio International Airport - 69
Queretaro International Airport - 40
The Project is about construction of 600 houses on a 308 acres lot located 10 miles form downtown SMA. The houses price range is from US $213,000 to US $369,000 for a 2,100 to 3,000 sq ft house. The project design was made by DTJ Desing.
There will be a club house in each of the 10 neighborhoods and a master club house with restaurant, gym, tennis, paddle-tennis and football courts, jogging track and salons. Additionally, there will be restrooms and sauna among other facilities.
The construction of the basic infrastructure for the first neighborhood will start soon.
Special areas will be reserved for a hotel, hospital and commercial.
The financial strategy is to begin with the construction of the infrastructure, roads, a club house and three show houses, and to start with the pre-sale. Once sales of the first stage reaches 60–70% progress, the construction of the second stage will start.
IRR of the project is 27%.