Urban Paradise Developers has acquired a parcel of land (Vallarta's Iconic old Cine Colonial - Colonial Cinema) to create a premier 27 Unit Condominium development called The Colonial Puerto Vallarta. The development has obtained hybrid residential and commercial zoning. The project is set to have 27 condominiums, a rooftop pool deck / social area, a community courtyard, underground parking and 2 commercial spaces on the ground floor. It was designed and conceived using the techniques of the Bagua (Feng Shui energy map) and Feng Shui as well as sustainability principles.
As the market shifts towards smaller and lower cost properties and in order to meet the requirements of the market, it is necessary to understand the clients and their needs.
Over the past 5 years, rental property sales are what is driving buyer demand, and that growth is expected to continue as more and more multi-million dollar investments come to the region.
Centro is one of the main focus for development in Puerto Vallarta and the city is investing significantly.
Based on a Buyer Demographic study conducted by Ryan Donner, buyers are looking for condos priced under $200,000.
We are experiencing a clientele that's trying to stand out of the crowd, express their individuality, using what they buy and use it as an expression of who they are, using the space as an extension of their personality.
The places we choose to live or stay (in the case of vacation rentals) is a statement of who we are.
"We aim to offer a product for the type of client that is looking to be in Downtown Puerto Vallarta, that wants to walk everywhere, that likes to befriend the neighborhood store owners, that likes to be outdoors, that wants great comfort indoor, technologically, that believes in sustainability and cares for others. The investors who are looking for great rental income on a low maintenance property that's ready to be used and enjoyed in a relaxed way."
The Colonial Puerto Vallarta proposes to break away from the conventional. It is a product that stands out for its architectural and design concepts and its quality finishes while staying within market prices.
The Colonial Puerto Vallarta offers a lot for a little in what promises to be the next hip area of town.
Long Term Vision
Urban Paradise Developers vision, is to acquire several parcels of land in the 5 de Diciembre neighborhood, to create an organic revitalization of the neighborhood. Urban Paradise will seek to construct buildings comprising of permanent residence condos, rental apartments, commercial spaces and combine efforts with the city's government to create new and improved pre-existing public spaces.
Construction is expected to commence in July 2019 and to be completed by October 2020. All apartments are expected to be sold by December 2019 and delivered by November 2020