Scarcity is always an important component in establishing value. This applies to all goods or services. Whether it is art, jewelry, talent or expertise, the scarcer the resource, the more valuable it is. It is in this spirit that I would like to address the master plan for The Sanctuary at Osa Peninsula, and the proposed full service Crocodile Bay Marina, which just happens to be the closest international full service marina to the Panama Canal.
At first glance, you might think that a marina in Costa Rica would be common place, especially since we are surrounded by water. Actually, if we turn back the clock, it was only in 1998 that a new law permitted the development of touristic piers and marinas on the coast. Prior to that date the law dictated that the first 50 meters of coastline within the country had to remain public and free of any development or marine infrastructure.
Let me tell you a little bit about the process to gain the zoning approvals in order to be able to start the permitting process to build a marina in Costa Rica. It is estimated that it can take more than five years just to gain the entitlements to begin the permitting process. As you can imagine, this complex entitlement process represents a formidable barrier to entry for any marina project. It is this component that greatly limits the future supply of marina slips in the country, and this is what fuels scarcity..and in turn, value.
Add this to the fact that only about 1% of the coastline in Costa Rica has the environmental, legal and technical requirements needed for construction of a marina, and you begin to see the reality of the situation and the degree of scarcity that these facts represents.
Today, Costa Rica Has Only Three Operating Marinas
- Los Suenos Resort and Marina which is anchored by a 200 room Marriott hotel. It has a large and very successful residential offering which, to date, represents over $600 million worth of condominium and villa sales and over 1000 residences in the total project.
- Marina Papagayo is located to the north of Los Suenos. This marina services the upscale and exclusive Papagayo Peninsula. This area has several surrounding residential and hotel offerings including Central America’s only Four Season’s Resort, a One and Only resort, as well as a newly constructed Andaz hotel by Hyatt which is built next to the marina.
- Marina Pez Vela is located in Quepos, south of Los Suenos and does not have a hotel or residential component.
There is Nothing More Charming than a Seaside Village
It has taken Crocodile Bay more than 10 years to gain the entitlements and permits to transform its existing facility into a world class international marina. As you can see in the master plan, the marina is also approved for a seaside commercial village. This village will include a market deli, yacht chandlery, a two story Tiki bar overlooking the marina, gift shop, concierge services, and tour office for residence owners and marina guests. Marina services will also include a guest laundry, luggage storage, meeting facilities and a boat launching area complete with a 20 ton yacht crane. An ice cream parlor and bakery will add to the charm of this seaside village.
But our true claim to fame and the element that sets us apart, is that we will be the only resort in Costa Rica to have a luxury hotel set out over the water. Our 84 room hotel will offer stunning views of the gulf and, along with the upland residential portion of the project, will be branded by a major international hotel operator.
The One and Only Hotel in Costa Rica to Plant a Flag over the Water
One can only imagine the caliber of a brand that can boast to be the only hotel in Costa Rica to have their flag over water. It is here that owners of the first phase of the residential offering will benefit from a lifestyle that few on the planet can experience. The pioneers of our first phase will have the option to stay within the tranquility of their private residential sanctuary, or to venture a short distance to the pier and marvel at the variety of boats that adorn the marina. The rooftop café and bar at the hotel, along with the two story Tiki bar will provide stunning vistas of the Golfo Dulce and neighboring Playa Preciosa, translated to Precious Beach. A more fitting name could not be created for this remote corner of paradise. It is the perfect place for our owners to take in the sounds and sights that only a marina within a seaside village can afford.
A Professionally Managed Rental Program
In addition to the lifestyle that this offering will afford you, our new residential owners will have the option to participate in a professionally managed rental program that will be marketed to a global network of loyal followers.
The Sanctuary at Osa Peninsula is the Only Branded Residential, Hotel and Marina Development in Costa Rica
Within the Sanctuary at Osa Peninsula, our homeowners will also have access to tennis courts, a sand volleyball court, a mini soccer field, a fire pit, and prviate swimming pools. To keep you strong and healthy, a world class fitness center containing the finest weight machines, cardio equipment, and free weights is available. With an investment of more than $100,000.00 for exercise equipment, one can only imagine the quality of the rest of this resort. For those who opt for relaxation, we have a luxury spa offering a variety of organic rainforest treatments and even a yoga center tucked away in the trees. Fine international cuisine will be available, as well as a rooftop café and bar for those special sunsets overlooking the gulf.
Crocodile Bay Marina is the only marina in Costa Rica to use 100% floating wave attenuators to provide protection for the marina. Due to its favorable location tucked behind a beautiful beach point, the marina is naturally sheltered from the deep water swells of the Pacific. The concrete floating breakwaters provide the marina with completely unobstructed views of the gulf regardless of the tide. The marina basin has a very generous depth of up to 60 feet, allowing for the comfortable docking of sailboats and super yachts. The design of the first phase of the marina includes 107 slips with most servicing 35ft-60ft sport fishing boats but also includes a handful of mega yacht slips up to 250ft to accommodate the existing seasonal demand for these super vessels. It is also worth mentioning that the calm waters of the Golfo Dulce are also the only destination within Costa Rica for the pickup and delivery of all the major yacht transport companies. Dockwise, Seven Seas and United Yacht Transport all sail to the Golfo Dulce and can safely and easily deliver your boat right next door to your home.
First phase reserved and off-market.
Now accepting reservations for the second phase consisting of 25 luxury branded, professionally managed residences.
What Comes Next?
As a Priority Reservation Agreement Holder, you will be receiving, by post, the complete master plan layout in a cylindrical tube container. Other specific information regarding the project is also included such as floor plans for each residence in the first phase and renderings of interior and exterior views. This will enable you to see the true scope of the development and understand why I am so convinced that the pioneers of this development will do well with this endeavor. It will also be easier for you to make a selection as to which location, view, floor, and building will be ideal for you. These renderings are magnificent and when you see the finishes, you will understand the inspiration for the term “rustic elegance”.
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