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If south of the border is where you want to be, then the Villages of Loreto Bay in Loreto, Mexico should be your destination. At the moment, Loreto is only a small village whose mainstay is the local fishing but whose borders are the magnificent mountains and sparkling Sea of Cortez. This will soon be changing, however, as the retirement community, The Villages of Loreto Bay, move in and change the landscape forever.
Butterfield, a multi-millionaire land developer, is the party responsible for this new private community development. He has already invested more than $3 billion in this new 6,000 home resort – the single largest real estate deal that has ever been made by the Mexican government. And, Butterfield has reason to be encouraged: within the last two years, more than 524 buyer have signed up to be apart of the new retirement community and backed it up with more than $200 million.
Within the next 12 to 15 years, The Villages of Loreto Bay will be coming into its own. The plans include 8,000 acres in all with amenities that include:
* Two 18 hole championship golf courses
* A 5,000 acre natural preserve
* A beach club
* A tennis center
* A marina
* Multiple restaurants
* Shopping galleries
Homes in The Villages of Loreto Bay run from large to modest in size. 1,500 square foot, single family homes are priced from $250,000 and customized houses on the beach can cost more than $2 million each. Everyone wants to be apart of these homes from the typical retirees who have traditionally traveled south in the winter of their lives to the newer buyers: Mexican-Americans who are growing wealthier and wealthier as well as young.
There's something for everyone in The Villages of Loreto Bay – just don't snooze on this deal or you'll lose out on the next big real estate venture in private communities.
