|
|
This blog is for everyone interested in Penon del Sol Project in Ocotal, Guanacaste, Costa Rica
-
hi we are also owners with Deb, I am frustrated as well we are paid up as per contract, and I feel that that's where we should be. All our money that is invested in this project is either borrowed or cashed in rrsp's I don't want to loose this, but I feel, when is this going to be completed, very frustrated
candy
|
-
|
Owners of Penon del Sol Condos
As a fellow condo owner at Penon del Sol, I would like to share some things with you. Jill and I recently returned from a month in Playas del Coco. We have also been to the area in each of the last 4 years and during these times have gained good insight of the area and country. In our travels and looking at real estate, it is evident that Penon del Sol will be a real gem. The entrance is showing very well now as will the sales suite (not completed prior to our departure). The layout is like no other complex we have seen. No doubt that on completion of this project, we all stand to gain substantially in our investment. This is why I am truly amazed that there are still owners who have not paid their monies, you are fools. Why would you risk having your condo legally repossessed and lose what you have already paid plus the enormous profits you could gain if you sell (once it is all finished of course).
1 There are more tourists in Coco than we have seen in the past
2 The new airport terminal construction is well under way
3 Construction of the new hospital has started
4 There are new condo projects under construction in Las Palmas, and other areas.
5 The new boardwalks in Coco beach are well into the construction phases and include basketball nets, beach volleyball courts, walking and seating areas
6 According to the news, the new marina is close to starting construction
7 On weekends, most restaurants required reservations
8 Commercial traffic on the Pan Am hiway was extremely busy
Projects like these are not built without prospects of strong growth in the area
These are great economic indicators and it can only be good for the future value of our condos. They even fixed a lot of pot holes while we were there.
We also toured with 4 different realtors in the Coco area and yes, they are busy now. Last year, they sold very very few condos, but are now selling about 2 to 4 a week with more people looking. We felt so good about all the things we have seen that we bought another condo for rental and speculation (not in Penon del Sol, an existing one). The deals are good but some properties we looked at, the prices are already on the move up. This would also hold true for Penon del Sol.
Like everyone else, we felt negative at times about ever using our condo at Penon del Sol, until we spoke with a number of owners who were in Coco at the same time as us. Most folks just want to get into their units, but some seem to be living in the past and sound like loop tapes. Going on and on about the sales contracts with Mapache, he said, she said, etc. TIME TO MOVE ON, those contracts are dead and if not for the efforts of Debi and Nigel, the project would be dead as well. The Trust now owns it and the new rules say pay up.
You have been pleaded to in Debi’s emails as well as the Trust agreement and a letter from the lawyers. You KNOW you owe the money; you KNOW you are part of the problem, so why are you acting this way? There is no legitimate excuse for your behaviour. So, what is the problem with not paying up? What are you waiting for? You are legally required to pay, so pay. Waiting for everyone else is not working, letting it all be done by a few is not working. With all the emails Debi has sent out to pay up, your actions are like those of a child refusing to change their bad behaviour, because they seek the attention, is that it? These delays are frustrating and if up to me, your condos would have been repossessed long ago. You are lucky that Debi has a kind heart, but I will continue to encourage her to place you in the hands of the lawyers, no mercy. As a paid member of the Trust I have asked her for the names of all delinquent owners, so I can personally chase you (and I would), but she is reluctant to do that. You have caused her and Nigel a lot of grief over this and she hasn’t thrown you to the wolves, wow, you owe her more than just money. You are also causing a lot of grief for all the folks who have paid up and bought into the Trust. I and others are advocating that all past due payments be subject to a 24% carrying charge and when the project is finished it would only be fair that units belonging to delinquent owners should have their water and sewer hook up delayed for say 18 to 24 month. SO JUST GROW UP AND PAY UP and reap the rewards. To me at least, it is a NO BRAINER to move ahead, versus ending up in court, losing everything and possibly facing lawsuits.......DUH!
We feel it would be a huge mistake to let this project falter or be delayed any longer as it really will be an exceptionally beautiful complex. The sooner we all get on board, get it done, the sooner we will enjoy our days in paradise, sipping margaritas and sharing good times around the pool.
If anyone wishes to speak to me personally, then email me with your phone number.
Sincerely,
Jergen Bech
Edmonton, Alberta
|
-
|
attached the plans showing the condos and electrical work for Phase 1 ... the areas circled in green are included in Phase 1.
|
-
Hi guys,
I am back to Costa Rica after about two months serving my jury duty in the UK and visited our El Penon del Sol Project.
To be honest, I was pleasantly surprised to see how much was done on the project even during the holiday season when practically for 3 weeks none of the self-respecting Costa Rican or Nicaraguan for that matter would not lift a finger. It really taking shape and looks like a project on the final stage of construction. The roads have been cleaned up and widened, the sewage piping and access ports installed most of the wiring is in place Phase One has really progressed in units completion. The area around the units has been cleaned up. Despite all financial difficulties and a lot of negative rumors around the project, it's one of the very few projects in and around Coco which is still "alive an kicking".
It's now up to you guys, whether this project is going to be finished this year or not. The Trust still needs a steady cash-flow. Almost $200K of funds has still been not paid for the units up to present stage of construction.
Please don't let us and yourselves down and if you know that you are supposed to pay now and received reminders from the Trust, please do so for everybody's sake! To see photo update made on February 23, 2011 click HERE
|
-
Below is the order of events that should be followed to finish the entire PDS project in an orderly fashion providing that there are no more financial constraints:
1.) Grade hills/yards along roadway to desired slopes etc and remove any unwanted/dying trees (there are several).
2.) Install ALL underground piping etc that passes along and/or under the roadways(potable water, sprinkler, rain run-off, sewage lines, electrical conduits etc).Create as-built map of all.
3.) Construct sewage treatment concrete tanks.
4.) Do final grading/compaction of roadways and parking areas.
5.) Install all electrical posts.
6.) Install all concrete curbing/gutters/paver block edging for roadways and parking areas.
7.) Do paving of roadways/parking areas.
8.) Install all piping/meter bases etc in yards. Create as-built map of ALL.
9.) Construct all sidewalks/steps.
10.) Finish ranchos and pools.
11.) Install sewage treatment pods, water pumps, pool pumps/filters/lights.
Some of the above activities can obviously be carried out at the same time as others, especially in areas where there are no roadways nor parking areas. Sewage pods need lead-time on order.
Provided there are no financial setbacks, these remaining estimated items should not take more than 5 months. Any additional items such as landscaping/retentions, irrigation etc can begin as soon as sidewalks are finished in each area.
The above does not include the condos and/or schedule for completion for the condos ... this will come out in a separate e-mail. Please take a boo at our past accomplishments, and goal moving forward. Additional info/update will be provided in the next few days ...
|
-
INFRASTRUCTURE & DEVELOPMENT - STARTING – MARCH 28, 2010 APRIL 2010 to SEPTEMBER 2010: APRIL 2010 Upper tank is up to top and upper steel re-enforcement has begun. Top to pour Wed or Thursday next week. Details/Ramp/bodega follows. Upper pool structure is done, details and rancho remain. Lower entry tank is done minus interior/exterior details and mechanical NE corner septic is done except top and drainage rock/tubing NE large pool concrete floor is poured Drainage concrete tubing from upper canal to mid canal (passing infinity pool) is done except concrete registro boxes. Road leveling has begun near Loft 69 to lower road to finished height to insert concrete tubing from SW corner to canal Almost all of the upper sewer trenches are done with some piping but we are awaiting your decision on Mapache installed tubing. Architectual drawings for all pools and tanks (as builts) have also begun and will have Architectual College seals. MAY 2010 *The large upper water storage tank re-inforcement steel was placed exterior waterproofing finished and the 7" thick concrete slab was poured (the tanks top) Only interior detailing remains. *Work began on the storage bodega/ramp and retention walls which connects the tank to ground level below *The upper pool SW corner, detailing has been completed (only tiling remains) and work has begun on a retention wall from it eastward to support the patio and rancho. *Progress continues on the sewage install in the SW corner *The area for the large infinity pool and parking lot has been filled/compacted and thus prepared for work to begin on the waterfall and then the pool. *The two central parking areas had concrete tubings placed and fill/compaction was performed to make room for the approx 40 spaces alloted there. *The centermost small pool was dug, re-inforcement steel placed and floor poured. This pool will also contain some waterfall effects. *The NE corner large pool detailing continued and is almost finished, A hydromassage seating area has been added to the plans and work began yesterday on it. *AYA water inlet tank exterior sealing and interior details were finished, An interior seal coat remains along with its electrical support closet/bodega. *The main road was lowered almost 2 meters in one area with large rocks excavated, this explains why it was not down to an acceptable grade to begin with as the previous contractor most likely felt it was not cost effective to remove these rocks. We have use for them and it would have cost more to buy them than excavate.
JUNE 2010 The last periods progress was, once again, very good. We are ahead of the proposed Dec. 1 schedule and under budget estimations. Providing continuous flow of funds, matching or exceeding the timeline, we will meet or beat the deadline. Find attached photos. Here are some of the accomplishments:
*The ramp/bodega has reached the viga or uppermost beam level of the walls and will be ready to pour the top/roadway surface Wednseday.
*The uppermost pool retention and fill has reached rancho level.
*Work began on the infinity pool excavation and water reclaim trough. The size has been increased to accomodate more people and a small center island.
*The smaller pool center SW was started and walls will be finished this week.
*The roadside pool across for canal parking entrance has begun as well and the floor has been poured.
*The central pool (canal) has its walls completed and work will now begin on the pump room/waterfall and other details.
*The lg pool in the NE corner has been mostly finished with the addition of the hydromassage seating area and pump room, rancho excavation has begun.
*The chimney type entrance to the AYA inlet tank has been installed, only backfill and interior seal coat remain.
*Sewer pipe install crew is now working on SW corner down towards infinity pool. Approx. 40 condos are now connected to pipe network.
*Rain water run-off concrete pipes have been installed from canal SW toward parking area below infinity pool.
The ramp/bodega concrete top has been poured and simple repello work remains inside the storage area and pump room.
*The infinity pool has reached the upper viga or crown beam level and work has begun on the center island, swim-up bar and beach/ramp entrance, as seen in the photos it is quite large and will have a tropical feel with the waterfall and center island, you will be impressed.
*The small center SW pool is done except the pump room and rancho which will begin today.
*The roadside pool is finished except pump room and rancho for which excavation will begin today.
*The central or canal pool is finished except for the waterfall.
*The NE lg. pool is completed and adjoining rancho is almost to crown beam or viga level.
*The AYA inlet tank is completely finished except for its secure steel top. Interior coat is complete and ready for water.
*Upper potable water tank is also complete except for secure steel top. Interior coat also finished and ready for water.
*Sewer line install continues and upper 1/3 of project is connected to the network of sewer lines.
*Almost all rain water from above neighboring properties is now connected to our canal system in addition to our upper 1/3 of the property so as to eliminate condo flooding in severe downpours.
*Main road is now down to acceptable grade to allow for "curb appeal" plus functionality of rain run-off and usable yard/garden space of roadside condos.
*Exit from large concrete tubes on other side of the road has now been protected with rock/concrete wall providing protection to neighbors and eliminating PDS liability.
Obviously pools still lack pumps and ceramic. These are last minute details due to warranty and necessary care for ceramic.
GO PENON DEL SOL! Things are looking better, believe it or not. We are still ahead of schedule and on budget or under. The major structures are up, now we need a road. JULY 2010:
As you may have heard, we've tightened our belts and become leaner and meaner as far as our workforce is concerned. We have downsized from 40 to 15 workers. This is partly due to the fact that all of the major structures are now built. The only remaining structures are 4 of the 6 pool area ranchos. We have come a long way in the short time we've been working and I'm proud of our workforce for their increased efforts in this time of need. Here are the accomplishments for this period.
The upper tank ramp/retaining wall is now finished, only fill/compaction remains.
The South property line pool is complete. The rancho walls and structural roofing are also finished.
The roadside pool is complete and excavation has been done to bring the surrounding grade down to its finished height.
The infinity pool is almost finished, only in-water stools and waterfall remain. Work will soon begin on the adjacent rancho.
The lg. pool NE now has its rancho walls completed and is ready for structural steel roofing to begin.
The entire main roadway is now down to grade and is awaiting install of underground utility piping and conduits. Once completed, curbing can begin. AUGUST & SEPTEMBER 2010:
* Upper ramp has been filled and compacted and it is now possible to drive up there and park. Exterior is ready for rock facing on columns and paint on walls.
* Interior of ramp / bodega walls have been finished and are ready for paint.
* Upper pool rancho has bathroom and columns constructed and is ready for structural roofing.
* S lot line rancho is complete and ready for zinc roofing.
* Central / canal pool rancho has begun and block work should be finished this week.
* Road work continues and earth movement is being done to remove worthless materials and conserve road base quality material.
|
-
UPDATE FROM CONTRACTOR/INFRASTRUCTURE COORDINATOR:
Hello All.
I have been asked to provide an update for the months
of October and November. The crew has been working 3 days per week
partly due to the rainy season and partly due to the financial
constraints. In this time period work was performed on the following
areas:
1.) ALL Pool Ranchos received final stucco/repello details
making them ready for electrical install after which painting and
roofing could begin.
2.) Some of the concrete floors in the ranchos were poured.
3.)
Some of the piping for the pool jets/returns have been finished and
fill/compaction over them was performed where necessary.
4.) The uppermost rancho receved its concrete planter box next to seating area.
5.)
The Infinity pool rancho received its concrete stairs, retaining wall
around rancho, plus lower retaining walls have begun near parking area
which will
double as retention and planting boxes and work continues in this area.
6.)
Work has begun on retention/planting areas around rancho/pool area on
pool next to roadway on left upon entering project, this includes
retention behind
buildings 9H & 10H and ramp to access upper bldg.behind them.
7.) Some surveying work has been performed to determine exact
postion and elevations of road in the first 250m which will facilitate quick installation of piping once funding allows.
8.)
Electrical contractor bids have been solicited and inspections
performed, we are awaiting responses to see if costs can be cut from
original estimates.
9.) Road surface contractors have also been interviewed to see about savings in roads and parking areas as well.
10.)Continuous
communication between myself, sub contractors, material providers and
Debi has kept our committment and interest alive in finishing this
project.
The Sardinal, Coco, Ocotal AYA water project has been approved and
with this final hurdle jumped, there is no reason why this dream can not
become a reality.
With your help in the form of continuous and timely condo payments
whether they are upcoming or past due, we CAN and WILL finish this
project in a professional manner.
Years ago when you bought your condo, you signed onto a dream.
Remember how that felt? Help US in our effort of helping YOU. Let's get
this thing done....together!
My company business card reads "Prestige Properties and You...
Making Dreams Come True". In my almost 14 years in Costa Rica, I've
NEVER failed a client yet in making their dream come true. Many have
become friends and are still in touch. You are all clients now, lets
get this thing done.
Updated photos will follow Friday.
Scott Hansen Infrastructure Coordinator
|
-
|
Have been in Costa Rica for a week and going steady. My Internet has been down for 6 days and just got it fixed yesterday so now I have communication abilities. Have met with the contractors, the sub-contractors, the electrician, the plumber, the tiler, lawyers, et al.
Had an issue with one of the security guards and had to fire him. Two of the front doors on the condos went missing and in Costa Rica, when there is theft in a project it is the security guards' responsibility and is "just cause" to be fired. It is expensive in Costa Rica to fire an employee and proper steps and paperwork need to be filled out, and filed. The cost to let this employee go was $2,300US however by checking into things, the cost was reduced to $630US. This took me almost 3 days to resolve and a lawyer had to be used to ensure the employee could not come back and file charges that he wasn't paid his proper severance. We found the doors installed in someone's home and now I have to go to Liberia and file a complaint with the police and follow those steps and procedures to get our doors back. A huge pain, and one that I hope doesn't happen again.
Have decided to stay another week to get everything done that needs to get done. Am going to a meeting about the water on Thursday, meeting with Rocio (the trust lawyer) on Friday, the main contractor on Saturday, Mapache on Monday, as well as all that's in between (clients and condo buyers). Meetings are arranged with two local banks (Bank Nacional and Bank San Jose) to arrange alternative financing and pay out/off the current mortgage/lien holder. There's a LOT going on.
Just wanted all of you to know how busy its been here and that Penon del Sol is first and foremost and that a finalized gameplan is being worked on. There is lots of info to share, including the financials, the phasing of condos/developments, the options and gameplan(s) moving forward. Decisions will need to be made by all of us. One of these decisions is regarding the grey water/waste systems needed for Penon. We are getting a 3rd quote tomorrow and a decision will need to be made quickly, regarding which contractor to hire
to do the installation. If this quote comes in as what is expected, it will save us almost 50% of the original quote ($100,000US). The 2nd quote we asked for has taken 7 weeks and has yet to be provided.
Sidewalks and parking spaces are being started ... many things are coming together and/or are being worked on. A thorough update is 90% ready to be sent out. Thanks to all of you for your patience, it hasn't been easy to do so under these circumstances. The delay in sending out certain info is the effort being made to save money on completing Penon del Sol and finding ways to finish the project sooner than later ... knowing
legally the rights of pursuing the delinquent/past due condo buyers ... doing things correctly and expediously. The goal is to save almost $500,000US in getting Penon
del Sol completed.
Will be in touch with more info and further update. Once again I apologize for the delays. I will be in Costa Rica until next Wednesday, either e-mail me or feel free to call me here should you have any questions ... DEB
DEBI BRUTON, President - Penon del Sol
|
-
During 2008 and
2009 the country witnessed an unusual conflict in the Northern coastal area of
Guanacaste.
|
|
The disagreement started 3 years ago when the
growing communities of Playas del Coco and Ocotal requested an improvement to
the water supply. Since the Costa
Rican Institute of Aqueducts and Drainage (known as AyA by their Spanish initials) lacked the necessary resources to improve the capacity of the
current wells and plumbing system, a group of 48 national and foreign investors
offered to finance the construction of a new aqueduct. This would be the first development of
its kind built under the provisions of Article 38 of the Costa Rican Urban
Planning Law, which allows government institutions to use private financing for
projects that are for public use. The law also establishes ways for companies to recover their contributions
later. Read more
|
|
-
For those who don't like the "mañana" attitude ( I know, I don't...), we have just a few 2 bed/ 1 bath full furniture and appliances sets available for installation right now. Very attractive price which is 20-25% less than any good local supplier could offer and quick quality installation. Price includes the cost of installation. See already furnished 2 bed / 2 bath and studio units here:http://www.1costarica.net/Furnishing_Service/page_2382793.html You can download a full inventory and price quotation on the same page. Please note that we have limited availability for immediate installation and the orders will be completed on a "first come, first served" basis. Brgds,
S. Galkine
|
-
Just received excellent news from our lawyer. Today, the La Sala
Cuarta (Supreme Court of Justice in Costa Rica) made a resolution and it
was accepted that there is more than enough water in Sardinal to
service the above noted communities and new projects/developments via
the new aqueduct.
I am heading down to C.R. this week and will get further
information on timelines for the water to be hooked up, etc. Great news
for all of us ... DEB
|
-
I apologize for the delay in taking so long to get back to everyone
however am still waiting for some final numbers re the electrical and
waste treatment systems in order to send out a financial update. Last
Saturday, Coopeguancaste (the electrical company) came out to the
project to provide an estimate to have the electrical work completed in
phases. These numbers are to be submitted to the committee by the
week-end.
In the meantime, have been working on a number of things including
getting another 18 condos completed. When in Costa Rica at the
beginning of October, I met with legal counsel to get much needed
information and guidelines on the necessary steps to get seggregation of
the land, to obtain water from a registered source, and many other
items necessary to get us deeded title to our condos.
I too am frustrated with the length of time it takes to get things
done. Costa Ricans do not move quickly and even when I have stressed
over and over again the importance of getting us the information in a
timely manner, it still has taken well over a month and am just getting
responses and information now.
A game plan is being worked on to have the condos and sections of
the development finished in phases. This is not a fast and easy
process. A lot of time and energy has been spent to ensure we are doing
things properly and with the right processes in place. We do not want
to run around in circles ... we need and want facts, and that is what we
have been asking for and waiting for.
I am heading to Costa Rica early next week and my intention is to
have the financials and a report on the phasing of the project done
before I leave Canada.
As always, should you have any questions, please feel free to call or e-mail me ... thanks, DEB
|
-
A recap of the condo buyers who have purchased voting options is available on request. To date, we have had 70 condo buyers join the trust for a grand total of $258,000US in voting options.
As of September 1, 2010, out of the 187 condos originally for sale, 25 remained to be sold by the trust with approximately another 20 condos by individuals who bought groups of condos and which are still up for sale. So when the doing the math or percentages, it looks like 37% of condo buyers bought voting options, but in reality, by eliminating the unsold condos, approximately 62% of condo buyers bought voting options and joined the trust. A good response to date. I am still working with condo buyers who have not joined the trust and hope to have another couple of buyers joined before going back home to Canada. I have also had meetings with a couple of the condo buyers who are past due in their payments, and funds are forthcoming.
I am still working on the financial update (and have been working on this with both of the lawyers and contractors) and plan to have this out very soon. Things are going well here in Costa Rica however everything seems to take much longer to do and or accomplish as compared to back home (very frustrating at times). I have been in several meetings regarding the infrastructure, structuring of the phases, completion of the condos and will share this info in my next e-mail - update. Its been a very rainy week here in Costa Rica so a good time for all these meetings.
We are looking at ways to cut back on some of the more expensive items yet to be done, and with the economy being the way it is and so many locals looking for work, we are definitely getting better pricing on materials and trades people.
That's it for now ... thanks for your patience (will definitely be worth it). Let me know if you have any questions,
DEBI BRUTON
|
-
Good day everyone ... I have asked and been patiently waiting for certain numbers pertaining to the project from the Site Foreman and the Condo Foreman since last week. I now have this info from one of them but still waiting for the info from other's . Once I have this info, a complete overview will be sent out. The plan is to have the financial overview out early next week (keep your fingers crossed) and apologize for the delay.
Have also been working on a number of other items of interest (i.e. phase completion / water & hydro & waste connectivity / Trust Recap / condo completions) and this info will also be provided soon.
Two of the 2 Storey condos have been sold, and one of the lofts has been put on hold via the fire sale. If you or someone you know are interested in purchasing the last remaining loft at $50,000US, please contact me at your earliest convenience.
Though there are delays, progress is being made. We realize its frustrating at times however the project is moving in the right direction of having our condos & development finished sooner rather than later. As always, should you have any questions, please let me know ... thanks for your patience, DEB
DEBI - TRUST COMMITTEE
|
-
Finally, we have all numbers from the Customs here in Costa Rica and
now I understand why all imported stuff is so expensive here.The Customs
duties go from 34 to 47%... But finally the containers are here, in
Costa Rica!You can request Inventory list for each type of condo -
studio / Loft (2 bed/1 bath) and 2 bed / 2 baths. You can see the samples and request a full inventory and pricing HERE: http://www.1costarica.net/Furnishing_Service/page_2382793.html
|
|
|
|