Saturday, July 17, 2010
A perfect Caribbean sunset over Chetumal Bay
Dear Reader,
It's fascinating to watch a development grow from a dream, an ambitious master plan, and a piece of dirt, into a finished project. Over the last 5 years, we've seen Orchid Bay in Belize do just that. This week, the developer sent me a list of milestones the project will reach this year. It was quite a list...
When Ronan visited Orchid Bay five years back, the developer had a grand vision. He was starting with the best possible raw material--115 acres of tropical rainforest and a mile of beautiful oceanfront, wrapped around Chetumal Bay, in northern Belize. It's easy to get here--you can reach Orchid Bay in half a day from the US. Ten miles across the bay, you have all the big city conveniences you'll need from time to time in the Mexican city of Chetumal (hospital, large supermarkets, modern shopping malls)...before escaping back to Orchid Bay's tranquil Caribbean lifestyle. Fishing, snorkeling, sailing, exploring ancient Mayan ruins, hiking in unspoiled jungle...or simply relaxing in a hammock in the ocean breeze, with a good book and a cool drink.
Water worshipers will feel right at home at Orchid Bay
Five years back, heavy machinery had started cutting the roads in. Utilities were going underground, preserving the views. The developer wanted as much as possible of the property to remain untouched...so 40% is preserved. He wanted a walkable community, too, with plazas and communal areas...where neighbors could gather over a cool beer, or kick back in the beach club. Today, the vision is real. Here are some of this year's milestones...
- The Orchid Bay Beach Club is due to open at the end of the year. The club anchors the beachfront area, and the little casita houses. Only 24 casitas were built, and all but 2 sold (they're currently priced at $169,000). These lock'n'leave homes make a perfect second home--and you can rent them out when you're not in Belize. The first owners should move in to their casitas at the end of this year.
- The Black Orchid restaurant and bar opens in September, with a grand opening scheduled for the 15th of September. The restaurant will serve tasty snacks and meals...and the bar provides the perfect gathering place for neighbors and friends to relax over a chilled Belikin beer.
- In addition to the existing beach and dock, a second beach is being finished in front of the site for the new condos (and they're clearing the condo site, too).
- Orchid Bay partnered with Belize customs. It's now a port of entry...so you can arrive by boat from Mexico and have your visa stamped at Orchid Bay.
The project features in an upcoming episode of House Hunters International. Filmed earlier in the year, the show highlights a US buyer looking for his dream vacation home in Belize, that would generate some rental income while he wasn't there...he purchased a casita at Orchid Bay.
An aerial view of the casitas, taken earlier this year
Despite all of this progress, the development is still remarkably affordable. The developer did not raise prices last year. Home sites start at $39,000...and developer financing is available. You pay 50% down, and the remainder over 10 years at 7.5% with a 3-year balloon. Construction costs $100 per square foot...so you can build your dream home in Belize for $175,000.
Orchid Bay's moved past the phase of being a dream, and a master plan. It's now a community, growing, taking shape, and adding amenities and value monthly. Once all the milestones are reached at the end of 2010, the developer plans a price bump. Click here to lock down your Orchid Bay property at today's prices.
Margaret Summerfield
P.S. You can take my word for it...but I know that seeing is believing. If you want to experience the Orchid Bay community for yourself on a chill weekend, contact Orchid Bay here. You'll get to see the development for yourself...have a Hawaiian-style pig roast on the beach...and explore Mayan ruins nearby. You'll find out if this Caribbean lifestyle fits...and figure out which of Orchid Bay's property options suit you best. The weekend costs $299 per person, $499 per couple (a special rate for our readers). The next weekend is August 20-22nd. Reserve your place here.
Posted Under:
Want More?
Sign up here for your free Pathfinder Alert e-letter, and we’ll send you our $50,000 Report...showcasing seven real estate opportunities for $50,000.
