Thank you for joining us today to celebrate the unveiling of the new town of Las Catalinas. It really is a pleasure to have you here in our home to talk about my favorite subject! On behalf of Ginny and our whole Las Catalinas team I’d like to welcome you. I hope that you have a great time, and that you find Las Catalinas as exciting as I do! As I talk I’ll be showing photos from Las Catalinas, and some plans and renderings. I’ll also show some pictures of places we have visited from which we have taken lessons and inspiration. I suspect some of them will look familiar!To begin I’d like to take you through a day with me in the Las Catalinas of the not very distant future. So, let’s get on with my imagined day:
Waking up in Las Catalinas is a joy. The sounds of the ocean, the birds, the monkeys, and the early stirrings of the village always take me straight to the terrace.
The beautiful view of this town nestled up to that ocean is always enough to lure me up and out. Doing something in the water first thing has become a ritual. It might be a swim, or kayak, or maybe just a walk on the beach, but I like to reconnect with that ocean first thing every day.
4 Today it was a day for kayaking. I like to paddle out halfway to Flamingo and just sit there quietly and see what I notice. Usually I can count on a turtle, or some dolphins, or a manta coming to check me out. I am imaging that they actually know me now.
5 Afterwards I walk through the town to gather fresh baked goods and fruit for Ginny and the children.
6 I can count on seeing a few early morning regulars,
7as well as an interesting collection of visitors.
8 I love our house here.
9 We are right in town, yet we have beautiful views.
10 And with our courtyard, we have plenty of privacy. But it is not the house that really makes this place for us.
11 It is what lies outside our door. And that is the village of Las Catalinas…
12 and the nature that lies right at the edge of town.
13 The town is absolutely seductive.
14 Every street seems to lead to a stunning view.
15 Every little passageway seems to lead to something ... secret.
16 Our fellow homeowners in Las Catalinas are a fascinating multi-national bunch.
17 We are passionate about nature – preserving it, enjoying it, and being a part of it.
18 We are passionate about beauty,
19 and have chosen to surround ourselves with it.
20 We live a rich life here
21 -largely under our own power on foot, on bikes, and in boats.
22 It makes us healthy, it makes us feel good, and it binds us to this place, and to each other.
23Anyway, back to my day. The family scattered after breakfast.
24 Lucy went horseback riding.
25 Charlotte went to the beach to swim, play soccer …
26 and mess around in the tide pools.
27 McHenry went to visit his buddies and set up a lemonade stand.
28 Ginny went out with one of the morning hiking groups .
29 So after a morning of work I rode my bike to Lola’s del Norte for lunch.
30 I knew half the people there, so I sat up at the bar and had a great time.
31 Afterwards, nap time. We have this big swinging bed up on the upper terrace, with a peaceful view. I love to take my guitar up there and play myself to sleep, which I did today, quite blissfully.
32 Later on Ginny and I hiked up to the ridge for sunset. I still can’t get used to how magical the sunsets are here. Then, dinner at home.
33 Then everyone was off for a stroll around town. It’s not quite the old Spanish tradition of the evening promenade. But it is close!
34 We all love it.
35 And each other.
36 And this place. The creation of Las Catalinas is very personal. We are building the place that we want to live in. We are building literally the town of our dreams.
37 A beautiful gem of a town, surrounded by spectacular nature on land and at sea.
38 Our mission is to build one of the most beautiful and enjoyable places that has ever been built.
39 Anywhere.
40 Ever. I know that doesn't sound very modest. Sorry!
41 Let me tell you a little bit about Costa Rica and especially about our area of Guanacaste, on the Pacific Ocean in the northwest part of the country.
42 Costa Rica is a unique, beautiful, peaceful, prosperous country. It ‘s people are consistently ranked as the happiest in the world – seemingly no matter who is doing the ranking.
43 It has had no army since 1949. It has had a continuous democracy for 59 years – making it one of only 22 countries in the world that can say that.
44 It has a health care system that is the envy of many other countries. And Rush Limbaugh, apparently. The literacy rate is 97%.
45 When I set out on the quest to develop a walkable beach town somewhere in the new world tropics, Costa Rica was not the first place I visited. But in the end I picked it primarily because of the people there. They are nice. They value important things like education and the environment. Many of them are not so different than the people in this room.
46 Just happier.
47 And warmer in the winter.
48 And cooler in the summer.
49 The climate varies by geography in Costa Rica. In the central valley where most of the people live it is perpetual springtime. Lows in the 50’s and highs in the 70’s.
50 Where we are in Guanacaste it is warmer. There is a dry season – November through April.
51 Humidity then is very low, there is generally a nice breeze called the Papagayo Wind, and high temperatures get up to the mid-nineties. It is not unlike summer in parts of Southern California.
52 The wet season is from May through October. High temperatures are in the mid-eighties this time of year with generally sunny mornings and often an afternoon rain.
53 Year 'round the lows are around 70 each night. Evenings are just perfect, just about always.
54 There are no hurricanes. Ever. We are too far south. No coriolis effect to give the spin to the storms.
55 And the cost of living is very reasonable. You will not be encountering the St. Barth $45 hamburger.
56 Costa Rica and Las Catalinas are really easy to get to from Atlanta. It is about a three and a half hour flight, nearly due south. It is a direct flight to Liberia, then a 22 mile drive to Las Catalinas. No jet lag. Have breakfast in Atlanta, and lunch in Las Catalinas. It’s easy. I contend that it easier to get to Las Catalinas from here than it is to get to Alpharetta. But I may be exaggerating.
57 - And you can bring your pets - no quarantine. And as you can see, everyone is happy in Costa Rica!
58 The natural environment of Costa Rica is famously great.
59 27% of the country is in national parks and preserves.
60 Ecotourism was basically invented here.
61 There are lots of animals – and you really see them and will certainly see them a lot right in Las Catalinas. We have white faced monkeys...
62 Howler monkeys
63 Sloths
64 Turtles - including these little guys that the whole Brewer family saw hatching at Las Catalinas one evening.
65 Dinosaurs.
66 Anteaters
67 Frogs
68 Birds galore
69 And very rich marine life
70 There is so much to do and see in our area - and it is all very close at hand. You can easily be diving with whales in the morning.
71 And hiking on a volcano in the rain forest in the afternoon.
72 Of course surfing is a major activity in our area. And: kayaking, hiking, sailing, deep sea fishing, golf, with three good courses nearby... I could go on and on.
73 And lest you think we're all on our own in the wilderness in Las Catalinas - we are not. There are dozens of good restaurants in the nearby areas of Potrero, Flamingo, and Tamarindo.
74 There are many fine vacation houses preceding ours,
75 and a well developed resort economy.
76 There is a Four Seasons hotel nearby, for heaven's sake.
77 But there is also the thrill of discovery in a fascinating place that is safe - yet still begging to be explored. So who are we? We are a group of company owners from the US. I’m the leader of the group.
78 For me, back in the nineties there was MindSpring .
Then I spent much of the last decade developing Glenwood Park here in Atlanta. We took this concrete recycling site
80 and turned it into this beautiful mixed-use neighborhood.
Glenwood Park has won much praise and many awards as a delightful, very walkable neighborhood and a role model. Las Catalinas’ other General Partners are:
82 Tom Claugus, the founder and manager of the investment fund GMT Capital.
83 Stuart Meddin, one of Atlanta’s most successful and well regarded owners and managers of neighborhood commercial property.
84 And Bob Davey, a wise, seasoned (and incredibly buff) veteran of Guanacaste development. All four of us are currently building houses in Las Catalinas.
85 We are also a strong in-country development team led by Jim Berry. Jim has a land development background here in the southeast US, and moved to Costa Rica a few years ago. He sends his regrets - he and Julia just had their first baby last week, in Costa Rica. So he is grounded! Jim has put together an excellent team of employees and advisors with many years of experience with projects such as Peninsula Papagayo.
86 We are also a very capable staff of workers in the field.
87 Brian McCarthy joined us last month as our VP of Sales and Marketing. Before joining us Brian was Director of Marketing at PeninusulaPapagayo and before that Director of Marketing for the Americas for Intrawest's Playground Destination Properties. We are also a team of passionate designers from around the world.
88 Douglas Duany.
89 Bill Tunnell, Jerry Spangler, and their team at Tunnel Spangler Walsh.
90 Lew Oliver .
91 Ricardo Arosemena .
92 And many others.
93 We are now also a great construction crew led by Roberto Lobo.
94 And some highly skilled heavy equipment operators.
95 Let me take a few minutes to describe Las Catalinas to you. Las Catalinas is, in my unbiased opinion, the most beautiful and desirable 1200 acres in Costa Rica.
97 It has perfect topography – the town site is basically a big bowl facing the ocean. There are fantastic views from everywhere.
98 And you can hear the waves from every home site.
99 We have great beaches.
100 They are perfect for swimming;
101 often ideal for body surfing;
102 with great snorkeling;
103 and great conditions for sailing, paddle boarding, and kayaking.
104 We have dramatic seaside cliffs on big dramatic peninsulas.
105 We have heavenly high ground.
106 And we have a healthy ecosystem that we are helping redevelop into a full-fledged tropical dry forest.
107 On a small part of this land we plan to build a town. Our town’s economy will be based on resort activities. But it will be a real town with a mix of full-time residents and vacation home owners.
108 In terms of the basic programming the town will be not unlike Carmel, California;
109 or Aspen, Colorado;
110 or Positano, on the Amalfi Coast in Italy;
111 or Cap Ferrat in France;
112 or St. Barth’s in the Caribbean;
113 or even Seaside, in Florida.
114 It will mainly be a town of houses – not a town of multi-family buildings
115 It will have restaurants,
116 and shops.
78 It will have a number of small hotels
118 ,
119 and perhaps one or two bigger ones.
120 It will have important civic buildings.
121
122 Las Catalinas will be a town of great beauty.
123 The buildings – each individually crafted – take seriously their job of beautifying the streets and public spaces that they frame.
124 In my opinion the power and importance of beauty in a place is profound,
125 and underrated.
126 Las Catalinas will be a marvelous place for walking, visiting, and exploring. It will be a place for people, optimized for people.
127 Cars and motor vehicles will be kept at arm’s-length.
128 That will help keep Las Catalinas safe, and quiet;
129 but still lively and sociable.
130 Las Catalinas will be a place where children can enjoy their freedom.
131 It will be compact.
132 That is key to making it walkable , and interesting.
133 In Las Catalinas you will have a small lot, but it will basically be set in a beautiful public garden.
134 Las Catalinas is about beautiful houses and buildings and private gardens.
135 But equally so it is about a beautiful public realm – streets ,
136 passageways,
137 parks,
138 and plazas.
139 Almost every house in Las Catalinas is set on a beautiful plaza or park of some kind.
140 Las Catalinas is also very much about the views – with which we are so profoundly blessed.
141 They are the secret ingredient – that opens up our compact plan giving each residence space,
142 drama,
143 and privacy.
144 Finally, Las Catalinas is surrounded by beautiful nature, and it always will be. About 1,000 of our 1,200 acres will be basically managed as a big nature preserve.
145 The nature is a key part of the experience of the town.
The town will make the setting more beautiful. And the setting will make the town more beautiful. This is truly how it ought to be. So, what have we done so far?
147 We bought the land in August of 2006. All cash, no debt.
148 We have designed a master plan for a beautiful gem of a town, surrounded by nature. Our complete master plan has full approval.
149 We have built a wastewater treatment plant. With a view!! And we have brought three-phase power to our site, and built worker housing, and a water system, etc. We are ready.
150 We have meticulously designed and permitted our first area of development, which we call Phase Zero.
151 We have sold, designed, and are now building
152 seven beautiful homes for our initial founder group
153 which includes all four of the company’s general partners
154 , one limited partner
155 , our VP of Development
156 , and our distinguished restaurateurs.
157
158 Speaking of which, and very happily, Christi and Don Van Akkeren will be opening a new Lola’s restaurant on our Playa Danta. The existing Lola’s, down on Playa Avellana south of Tamarindo, is a local phenomenon. What a fantastic experience it is – you’ve been seeing pictures from there throughout the presentation. It is just the best beach bar/restaurant I have ever seen.
159 Our Lola’s will open late this year, in time for the high season. . Lola’s del Norte, it shall be called.
159 And now, we have also produced initial plans for the next batch of eight houses. Like the first seven homes, these homes are also very much part of our founders program.
160 These are two and three bedroom homes on our Playa Danta beachfront. These will be very high quality houses, with one-foot thick walls, and great natural materials and finishes from Central America. One of the important things we have going for us is that in our area we can build really great houses with beautiful finishes, workmanship ,and materials - and we can do it for a very affordable price.
161 The preliminary price range for these houses is $544,000 to $995,000. If that sounds like an incredible deal, it is. It is on average $272 per square foot under roof. That's less than 30% of current Seaside values. It is about 14% of St. Barth values.
162 These homes are intentionally priced to be compelling values. We firmly believe they will be worth in the vicinity of 40% more than their selling prices when complete – and that is just based on the current market around us in Costa Rica. Clearly if we are at all successful with our ambitions for Las Catalinas prices should continue to rise strongly from there.
163 The homes are very much customizable. The plans are preliminary. Buyers can make changes to facades, floorplans, and finishes. We want individual owners putting their own stamp on these houses.
164 We at Las Catalinas will manage the process. Owners can delve deep into the details if they want to, or they can let us do that for them.
165 These houses are available now for reservations.
166 Our process is one of first come, first serve. No pressure.
167 No big “launch”. So if you are interested in having a home in Las Catalinas, the thing to do is to begin a conversation with us. We will try to help you find something that will suit you perfectly. If you don't see exactly the house you want in this current batch - do not worry. Talk to us - I'm confident we can create one that will suit you.
168 Heading forward, we will develop in an incremental fashion, one small group of buildings at a time, and sometimes one building at a time. There is no big financing event or similar hurdle that we need to clear. We will pay our way as we go, and develop our town in increments. And it will be a beautiful and wonderfully enjoyable place, right from the beginning.
Let me introduce the other Las Catalinas team members that are here…..First of all my wife Ginny - our hostess for the evening whose good taste and hospitality you see on display all around us. Thank you, my dear.Stuart Meddin, one of our general partners.Bob Davey, one of our General Partners.Brian McCarthy, our VP of Sales and Marketing.Colleen Sims, my assistant.Bill Tunnel, Jerry Spangler, and Lionel Johnson from Tunnel Spangler Walsh.Bill and Jerry have done the preliminary designs for this next batch of eight homes, and they are available to talk about them in the room here to my left.Lionel is here working the main screen offering guided tours around our Sketchup model - this is really fun and can help give you an idea of the spaces we are creating and the views from the various houses.We have some nice party favors for you, so please take your Las Catalinas beach bag when you leave, and use it proudly!All of us are available to talk more and answer any questions that you have. So have a great time, and don’t forget to buy a house!
