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Loreto Bay Company Sells More Than 200 Homes in Its Inaugural Sales Year

Press Release: Loreto Bay Company
December 23, 2004
SCOTTSDALE, AZ -- Scottsdale-based Loreto Bay Company, creators of The Villages of Loreto Bay, an authentic Mexican seaside community in Baja California Sur, sold 200 homes totaling approximately $70.25 million in its first sales year.

"Loreto Bay is designed in small, romantic, walkable villages," said Jim Grogan, president and CEO of Loreto Bay Company. "Our buyers love that the courtyard homes invite indoor/outdoor living. And the architecture is artisanal, with touches that make each home truly special." Homeowners have come from Western Canada, Washington, California, Arizona and other western states.

The Villages of Loreto Bay offer courtyard homes, luxury condominiums, and beachfront or golf course custom villas in walkable villages. Prices start in the low $200,000s.

The $3 billion, 8,000-acre project will be built in phases over 12 to 15 years. Plans call for a mixed-used development featuring 6,000 homes, boutique resort hotels, a golf club, beach club and spas, service and retail businesses, as well as cultural and recreational facilities. Five thousand acres will be maintained as a natural preserve for hiking, cycling and organic farming.

"It is our goal to ensure that Loreto Bay sets the standard for sustainable developments around the world," added Grogan. "Our focus is on conserving energy, reducing water consumption, solid waste materials and air pollution, as well as creating economic opportunities through new jobs and local businesses."

The Loreto Bay Company is partnering with FONATUR, Mexico's tourism development agency, to develop The Villages of Loreto Bay. Located approximately 200 miles north of La Paz, Loreto Bay has been identified by FONATUR as one of five prime tourism destinations in Mexico. The others are Cancun, Los Cabos, Ixtapa-Zihuatenejo and Huatulco.

For more information about Loreto Bay, please call 480-443-8350 or visit the Web site at www.LoretoBay.com.

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Contact: 
     Loreto Bay Company
     Debra Stevens, 480-443-8350 x2009
      or
     Edelman
     Meghan Stuyvenberg, 323-202-1075

Source: Loreto Bay Company