Longtime U.S. Real Estate Developer Sets Sights on Costa Rica

FORT MYERS, Fla., Jan. 4 /PRNewswire/ -- For the past 52 years, The Jack Parker Corporation has used phrases such as "luxury living," "breathtaking views" and "waterfront paradise" to entice buyers to purchase its high-rise condominiums in New York and residential projects along both coasts of Florida. But a slowing real estate market, runaway home prices, and the disappearance of land have prompted the privately-owned real estate development company to take these phrases elsewhere -- approximately 1,200 miles south to where CNBC called "the hottest real estate market on the planet." And they are betting U.S. buyers will follow.

Sales begin January 6 for Pacifico, the company's 175-acre, mixed-use development in Playas del Coco, Costa Rica, located along the Northwest Pacific coast 22 miles from the international airport in Liberia, which offers non-stop flights daily to and from major U.S. cities including Miami, Atlanta, Dallas, and Houston.

"Costa Rica offers what many consider no longer available in Florida and other popular second home markets -- available land at an affordable price," states Kerry Trowbridge, senior vice president for The Jack Parker Corporation. "Combined with lower construction costs, ample labor, and a welcoming government, it seems only logical that U.S. home builders and buyers are being lured to this less expensive paradise."

The 500 residences within Pacifico -- a collection of 350 condominiums, town homes, and villas; 20 rental apartments, and 150 single-family home sites -- combine Mediterranean architecture with coastal design elements and are being built to U.S. standards, offering custom cabinetry, Kohler fixtures, Whirlpool appliances, and pre-wired for phone, cable and Internet access. Floor plans are available with one, two, three or four bedrooms, and prices start from the $150s. Home sites, most with Pacific Ocean views, range from the $90s-$400s. Construction of the initial 56 units is underway, with completion scheduled to begin in March.

Inclusive of home ownership is membership to the Pacifico Beach Club, which will offer an indoor restaurant and bar, and to the onsite Health Club & Spa with tennis facilities. Additional amenities include a Members Club, sunset bar, waterfall pavilion, resort pools with sun deck, toddler pool & splash fountain, and a children's play area.

A 15,600 square foot Village Center located at Pacifico's entrance will house Costa Rica's only Robb & Stucky Design Studio, and other retail conveniences which may include a post office, coffee shop, art gallery, tour operator, and business services center. Also located in the Village Center will be a 20,000 square foot Auto Mercado, Costa Rica's premier grocery store, with additional retailers such as a dry cleaner, pharmacy and eateries.

"While the natural beauty of Costa Rica is the key selling point, we realize that in order to attract American buyers, modern conveniences and services are essential," says Trowbridge.

Costa Rica -- long a haven for American retirees and home to an estimated 50,000 American residents, according to the U.S. Embassy of Costa Rica -- is touted as the birthplace of eco-tourism and has become Latin America's most popular destination. A temperate climate, low cost of living, stable government, first-rate medical services, an English-speaking population, and direct U.S. flights are key factors that have lead to the country's phenomenal growth.

The Pacifico Sales Gallery, located within the Beach Club, opens January 6. For more information about Pacifico or to arrange an onsite visit, call 877-444-1222 or go to http://www.pacifico-costarica.com/.

About The Jack Parker Corporation

Pacifico is the vision of The Jack Parker Corporation, a privately-owned, U.S.-based real estate development company founded in 1955. Today, The Jack Parker Corporation's portfolio includes world-class hotels such as Le Parker Meridien in New York City and Le Parker Meridien in Palm Springs, California; restaurants; fitness centers and spas; and retail, office and industrial complexes stretching from New York to Florida. The company's Florida division, with headquarters in Fort Myers, has built commercial and residential projects throughout the state, including Naples, Bonita Springs, Estero, Fort Myers, Fort Lauderdale, Miami, Tampa, Sarasota, Hallandale and Boca Raton.