Fishing Lodge at Cap Cana in the Dominican Republic
5-Star Beach Resort, Prices Start at $450,000
October 25, 2006
Hi, I’m Maria Lopez with Condo Hotel Center. Have you been following the World Series? Very exciting.
Even if you’re not a big fan of baseball, you can’t help but notice that a lot of the players throughout the league come from the Dominican Republic — Sammie Sosa (pictured below), Manny Ramirez and Pedro Martinez, to name a few.
Baseball has put this little country on the map. But now, the Dominican Republic is working on another claim to fame — its magnificent resorts, the largest of which will be Cap Cana. And that brings me to today’s featured property, Alta Bella Fishing Lodge at Cap Cana, destined to be a home run in the world of luxury condo hotels.
Cap Cana, the World’s Next Great Destination
Cap Cana, a project hugging the island’s southeast coast, will be the Dominican Republic’s largest private community, a mammoth 30,000 acres of paradise. No that’s not a typo; it will be 30,000 acres or roughly twice the size of Manhattan. Being billed as “the world’s next great destination,” it will feature:
- Six miles of coastline
- Four luxury hotels
- One five-star condo hotel
- Five golf courses, including three signature Jack Nicklaus courses
- A 500-slip marina, the largest inland marina in the Caribbean
- A multitude of fine dining and casually chic restaurants
- Dozens of designer boutiques and one-of-a-kind shops
Construction on this immense development was started in 2003, and it’s just beginning to really take shape.
Over a billion dollars have already been invested in infrastructure and hundreds of millions in foreign investment are now flowing in, approximately 33% of which is from Americans interested in a luxurious second home at an extremely affordable price.
Alta Bella Fishing Lodge at Cap Cana
Alta Bella Fishing Lodge is your opportunity to own a piece of Cap Cana resort. Construction just began on this five-star condo hotel and is scheduled for completion in mid-2010.
It will feature 300 condo hotel units that sit alongside Cap Cana’s yacht marina and appropriately feature a Venetian theme. An elegant promenade will have 10 themed restaurants with delectable cuisines ranging from sushi to Kobe beef and 120,000 sq. ft. of waterfront boutique retail space.
The most impressive feature of the Fishing Lodge will be a 400 foot long infinity pool that stretches the entire length of the 10 luxury condominiums being built in Phase A. Owners will literally be able to jump off their rear decks into the water, swim to the pool’s edge, step out onto the marina’s dock, and saunter onto their awaiting yachts.
All of the one, two, and three-bedroom condo hotel units will be fully furnished and will come with a complete array of luxury hotel services. Owners will have the option of placing their residences in the hotel’s rental program.
Couple affordable pricing with no property tax for the first 10 years of ownership, no closing costs, and no annual maintenance fees for owners who place their units in the hotel’s rental program, and you might find it difficult to pass on this ground-floor opportunity.
If you purchase a condo hotel unit at Fishing Lodge, you will enjoy use of the many amenities at the five-star Sanctuary Hotel, located on the same grounds and scheduled to open April 2007.
Owned by the same developer, the Sanctuary Hotel will have a casino, six to eight restaurants, lounges and retail stores. A 500-seat convention center will serve to attract business groups.
A 30,000 sq. ft. full-service spa on two levels will offer direct views of the ocean. The management of the spa has not been selected yet, but the development team is considering Buddha Bar Group from Paris and ESPA, which manages many spas in Four Seasons and Ritz Carlton’s around the world.
Cap Cana will have the largest marina in the Caribbean. It will be a world-class facility with more than 500 slips, some 150 of which are scheduled to open before the end of this year.
The slips will be able to accommodate yachts up to 200 feet in length. Condo hotel unit owners will be able to rent them at favorable pricing.
Owners of Fishing Lodge will enjoy Cap Cana’s five championship golf courses, of which three will be Jack Nicklaus Signature Courses. The Signature designation means that Nicklaus himself has had a hand in planning them, as opposed to other architects at Nicklaus Design, and this has proven to be significant in creating real estate value.
The Punta Espada course, which just opened a few weeks ago, has nine of its 18 holes along the water, the most of any golf course in the western hemisphere. According to Jack Nicklaus II, Nicklaus’ oldest son, “There are a lot of hero shots, but it’s still very playable for the average golfer.”
The plans for Las Iguanas, the second course, are being finalized now, and it is likely to feature several holes that play through a nature preserve. The other three courses will be built over the next couple years.
While Cap Cana will have five courses of its own, just adjacent to the resort is the 7,150 yard La Cana course designed by PB Dye. And on the south side of the peninsula is the most famous course in the Caribbean, Teeth of the Dog, designed by Pete Dye, PB’s father.
All of these courses are helping to make the Dominican Republic a true golf destination.
If You Love to Fish…
The Fishing Lodge lives up to its name by offering amazing angling opportunities just offshore. These waters open into the Mona Passage eastward to Puerto Rico.
They are recognized as some of the best fishing grounds in the Caribbean, especially for billfish, blue marlin, wahoo and tuna with a number of tournaments drawing anglers from all over the world.
No Property Tax for 10 Years
In the Dominican Republic, purchasing real estate is fee simple, just as it is in the U.S. In addition, Cap Cana has so much clout with the government that the developers struck a deal in which Fishing Lodge owners will pay no property tax for the first 10 years and only 1% a year after 10 years.
Traveling to Cap Cana is Easy
The Punta Cana International Airport is very modern, clean and safe. It has daily direct flights to/from many major U.S. cities including Miami, Ft. Lauderdale, New York City, Chicago, Atlanta and Charlotte.
It’s three hours from New York City to Punta Cana. From Miami, it’s just a 90-minute trip. One in-flight movie and a Bloody Mary later and you’re there! Cap Cana resort is just eight minutes from the airport. The resort will have its own shuttle service.
Friendly People and a Safe Environment
Most islanders (Jamaicans, Bahamians, U.S. Virgin Islanders, etc.) are typically reserved and shy. Dominicans, on the other hand, in addition to being great baseball players, are some of the warmest, friendliest and most outgoing people in the world. They say they are only happy if you are happy. Sounds good to me.
Cap Cana is being built on land that was previously undeveloped. It is not near a large city. Crime is not an issue. Furthermore, Cap Cana is a gated community.
Starting Price at $450,000
The Alta Bella Fishing Lodge includes studios, one, two and three bedroom units, ranging in size from 732 sq. ft. to 2,744 sq. ft., plus spacious decks or balconies.
Located in low-rise buildings (up to five stories), they will offer views of the infinity pool, courtyard, marina and ocean. Prices range from $450,000 to $1,800,000. Comparable oceanfront condo hotels in Miami Beach or Fort Lauderdale easily cost twice as much.
Buyers of condo hotel units at Fishing Lodge will be entitled to the following incentives:
- No maintenance fee if their condo is placed in the rental program
- No property tax on their condo for the first 10 years, 1% thereafter
- No closing costs
- Favorable financing through U.S.-based Scotia Bank
- Preferred rates at Punta Espada Golf Course
- Preferred rates on marina slip rental
To Reserve a Unit
Reservations are currently being accepted on a first-come, first-served basis for the first 50 units. I’ve put together a data sheet that explains the reservation process and gives more details about Fishing Lodge at Cap Cana. To receive this comprehensive write-up, we ask that you provide us with your full name and contact information in accordance with developer registration requirements. Request the Fishing Lodge at Cap Cana data sheet here.
Condo Hotel Symposium for Developers, Early Bird Prices End Soon
Twice a year Condo Hotel Center sponsors a conference called The Symposium on Financing, Developing and Operating Condo Hotels. Our next one is coming up, and you’ll want to reserve a spot before Nov. 3, 2006 to get in at Early Bird prices. The symposium will be held November 30, 2006 – December 1, 2006 at the Mirage Hotel in Las Vegas, Nevada. This event is ideal for developers, hotel owners, lenders and hospitality industry service providers.
Condo Hotel Center is pleased to offer our Property Alert subscribers a $150 discount off the registration price. To receive an agenda for the event and a discount registration form, please submit your name, company name, address and phone number here. Request Condo Hotel Symposium information here.
A Grand Slam Success
Cap Cana — the colors of the tropics, the feel of the sand, the green fairways of Punta Espada overlooking the turquoise Caribbean Sea, the immense yacht marina, and the superior architecture and construction quality — it all adds up to “paradise.”
According to Ellis Perez, president of Cap Cana, “The United States market is now beginning to identify the values and the opportunities that lie here in the Dominican Republic, particularly in a project like Cap Cana, which is aiming to the highest end of the world market.”
This masterfully designed resort will have few rivals anywhere in the world. And for the Dominican Republic, it promises to be a grand slam success, giving this tiny nation a claim to fame equal in magnitude to its achievements in baseball.
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