The Most Ambitious Nicaragua Real Estate Development on the Pacific Coast
A group of business men from Pennsylvania are developing the most ambitious Nicaragua real estate development on the west coast. Gran Pacifica Beach and Golf Resort has been master-planned as a community to match any in Florida, with hundreds of Spanish colonial-style houses, villas and condominiums and cobblestone streets. Residents will be able to walk to a square with shops and restaurants. A 250-room hotel, golf course, casino and marina are also planned. This Nicaragua property is along one of the widest, gentlest, and longest stretches of beach on the Pacific coast. This custom-made beach town encompasses 2,200 acres and three-and-a-half miles of beach.
The key figures in this Nicaragua real estate development are Sewickley attorney Joel Nagel, Rotary International district governor in Western Pennsylvania, Richard White, retired president of Bayer Corp. in Pittsburgh, and Michael Cobb, Gran Pacifica’s president who is experienced in sales and property development. He has been living in Managua with his family since 2002 and has overseen construction that will support the 203 homes in the first phase.
Gran Pacifica’s golf course, designed by Tommy Haugen plans to take advantage of the Pacific oceanfront location and hopes to host major tour events when it is complete. Several of the fairways will overlook magnificent beaches and headlands that are accessible to Gran Pacifica residents. The lots are cheap now and will escalate as the homes are ready but to produce higher returns, the developers will utilize the Nicaraguan Tax Incentives act by adding a major international hotel chain. Many of the current investors are from Western Pennsylvania looking forward to a lush vacation or retirement experience. Homes can be built for as little as $100,000, far below prices in Florida or Costa Rica.
Gran Pacifica is 40 miles from Nicaragua’s capital city, Managua but at the completion of the project the residents will not want or need to go to town; it is meticulously planned with everything at hand. The ambitious project will be completed in five phases over the next ten years and this perfect getaway in Nicaragua has been designed by Pittsburgh based architectural and planning firm Urban Design Associates.
