It’s a shame, but the Loreto Bay Project construction has been halted. This project was first planned over thirty years ago. It was suppose to bring stability and income, providing a luxurious playground for vacationers, but disappointment and failure came instead.
Home owner’s received a letter stating:
Due to the challenging situation in the international real estate and financial markets, all operating and construction activities for Loreto Bay (the “Project”) will be suspended.
The Loreto Bay Project was to be an eco-friendly resort community, but lack of funding and the challenging location proved to be more than could be overcome. There is some optimism however; if this is ever completed it just may rival the best Mexican resort spots in existence
No one can argue that the scenery is spectacular. Maybe just the timing is a little off. Remember that name: Loreto Bay… the new destination spot of the future by the Sea of Cortez. Loreto’s culture runs deep and has great history. The people boast world-class sport fishing, tennis and golf, and with year round temperatures averaging in the 80’s you can go sailing, diving, ride horses and kayaking, mountain biking or just chill on the beach.
There are well maintained R.V. parks with pleasant staff, and believe it or not from Los Angeles they have daily scheduled air service. Right now people have stopped coming because they are scared to visit Mexico. People are scared that the angry crime boss will come to their RV and shoot them up with machine guns and steal the marshmallows. Some tourists are so frightened of pooping in their pants that they stay in Los Angeles, and Phoenix, and run the generator all day long to keep their RV cool.
But… the trust will have to earn. Many investors and those who purchased homes are trying to remain positive despite the fact that their immediate dreams have been interrupted. Time will tell. Even Donald Trump abandoned his project interests in Rosarito and Ensenada… he had faith in the area once; perhaps things will turn around for the struggling Mexican economy. They need it. We all do. – Marcy