As the season winds to a close, there are many who happily take back the streets of our town. Traffic increases every year, and by the end of the month, the new highway connecting us to Mascota should be complete, opening another route to Guadalajara, albeit not a shortcut. In addition to Park Hidalgo, both Benito Juárez and Lázaro Cárdenas parks will soon be in the process of conversion, bringing construction to both sides of downtown. By the end of May, the Malecón extension should be completed, and Vitea will be sitting pretty after somehow surviving months of pneumatic drills.
Gala Vallarta was inaugurated at Terra Noble to an impressive crowd of local business people, tour operators from Mexico, Canada and the USA, and municipal, state and federal officials. The growing expo is drawing attention from the annual Acapulco Tianguis, traditionally one of the largest tourism expos in Latin America. Some hoteliers report completing contracts with tour operators here, negating attendance at Tianguis. As Tianguis winds down, reports filter in of increased hotel rates this coming season, new flights from Chicago, Denver and Shanghai, and the continuing trend toward ecotourism in Mexico.
Real estate matches the optimism in the marketplace. Brokers are scrambling to find properties for clients. Developers sell overtime, closing a healthy percentage of inventory before even completing a model. Market demands and ventures continue, hitting all ends of the market, but primarily top and middle.
Nevertheless, around 75 agents found time to attend a class on real estate law offered by experts Maria O’Conner, Bruce Greenberg and Mitch Creekmore. In this busy time, legalities of the federal zone, fluctuating tides, residency and capital gains adjustments are just some of the interesting topics covered. Both AMPI Vallarta and AMPI Nayarit had meetings to discuss issues such as home-owner associations in condominiums and their rights and responsibilities, as well as friction between some developers and members of the real estate community.
Punta Esmeralda hosted a cocktail party to introduce the new beach club with infinity pool, as well as present the progress on the multi-tiered property connected by a hillside tram. Heavily attended by Vallarta and BaDeBa society and the realty world, the beautiful evening with great food and music kept guests beyond the proposed hour. Open houses were hosted in Nuevo Vallarta by Nicole Martin and Cristina Borbolla of Prudential early in the month at Villas Ibiza, Villa Majahua and Casa Mariposa, all located within El Tigre’s designer golf course. The area is developing quickly with the recent addition of the beach club and sports club on the course. Prices range from $400,000 USD to just around a million in these modern villas and homes.
In Gringo Gulch, PV Realty’s Silvia Elías, Gary Douglas Ford and Nancy Chapman opened Casa La Bomba, Casa Melodía, Villa Jardin and Villa Jazmín. Construction continues there on several projects, proving that the area’s history and romance is a draw for many. Probably the most successful open house this month was one in Conchas Chinas at Los Delfines condominiums, announced by Edith Flores of Premier Properties – an offer was made the day before the planned event, taking it off the market. Finally, Prudential’s Nicole Martin shared her secrets of Casa de Las Flores, while Catherine Martin of La Punta Realty revealed the interior of Casa Tortugas in Costa Banderas.
Bill Davis and Sergio Hinojosa of the renovated Flamingos Golf Course hosted a successful fundraiser for the Red Cross, bringing in about $120,000 pesos for the new center in Mezcales. In related golf news, the Litibú project will feature three designer world-class courses. In short order, Puerto Vallarta has surpassed Cabo San Lucas, taking its place as the second tourist destination in Mexico since the first of the year. Golf is surely a strong part of that, as well as the continually successful real estate market.
The IX International Film Festival of Puerto Vallarta brought in 41 films and filled the salons at Cine Versalles and the CUC auditorium, in addition to the special outdoor series at Los Arcos Amphitheater. Children were entertained by a cartoon program at Cine Bahía, while a daily forum for the press and students at the Sheraton Buganvilias brought directors and actors in direct contact with their public. Despite the low budget of the sponsoring University of Guadalajara’s local CUCosta, the festival proved that youth is interested in cinema.
This coming month has a couple of noteworthy events, chief among them Restaurant Week, actually a two-week period from May 15-31, during which 33 participating restaurants will provide specially priced menus. Stop by the Malecón during the Festival de Tamal May 7 - 8 to view the world’s longest tamal, aiming for the Guinness record. Spend some money and time at the second annual Altruism Festival at the Marriott CasaMagna on May 15. Flock to the stadium for the 3rd annual Copa Vallarta soccer tournament May 18 – 21, or participate in the annual Sports Classic May 27 - 29. The month tops off with the anniversary celebration of Puerto Vallarta in a special event May 31 sponsored by City Hall, including the announcement of the winners of the Vallarta Award and a concert by international star Alejandro Fernández.
