TSD’s recently launched The Villages of Loreto Bay, a series of romantic, walkable seaside villages in Baja California Sur, Mexico. The Villages of Loreto Bay is emerging as the largest resort community in North America committed to the principles of sustainable development and New Urbanism.
Loreto was one of five areas identified about 30 years ago by FONATUR (Mexico’s tourism development agency) as a prime tourism destination. In the years since, FONATUR has developed Cancun, Los Cabos, Ixtapa-Zihuatenejo and Huatulco. In Partnership with Loreto Bay Company, development in 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 electric cars as primary transportation. The project includes development of a world-class Beach Club and Spa, Golf Club, plus space for retail, entertainment, an 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, compressed earth blocks that provides energy efficient heating and cooling. In the Founders’ Neighborhood, one of the many neighborhoods that comprise The Villages of Loreto Bay, 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. In 2005, Loreto Bay Company launched Phase II, Agua Viva, a new neighborhood right along the Sea of Cortés with a vibrant confluence of human habitation and a series of regenerated estuaries.
“Our vision was 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 continues 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; create, through solar or wind power, more energy than it uses; and 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.
“Loreto Bay has already begun to set the standard for sustainable developments around the world,” continued Butterfield. “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.”
To date, Loreto Bay Company has sold more than 600 homes totaling nearly $300 million. As organized by TSD, one percent of each sale is donated to the Loreto Bay Foundation, an independent non-profit foundation 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, fund a sea turtle conference and an eco-tourism program, among other initiatives.
This level of commitment came from Loreto Bay Company’s founding principals. Chairman Butterfield was also president of the Trust for Sustainable Development, the parent organization that began the development of Loreto Bay. His experience in and commitment to sustainable development and New Urbanism established the vision for Loreto Bay. Jim Grogan served as president and CEO and brought 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.
In December of 2005, the company partnered with Citigroup Property Investors to purchase the Camino Real Hotel, which is now known as the Inn at Loreto Bay. The 530,000 sq. ft. resort, which opened in 2002, sits on a secluded beach, offering spectacular views of the Sea of Cortés. Its location directly adjacent to The Villages of Loreto Bay will provide additional amenities to the resort community Loreto Bay is developing there.
Loreto Bay has enjoyed international acclaim for creating a town that brings architectural beauty to a stunning natural setting in a way that enhances the land and its people. For more information on Loreto Bay, visit www.LoretoBay.com.