Wednesday, December 10, 2008

Los Corales Update

Los Corales has announced that the Environmental Resolution for the project will be released on Wednesday the 17th of December. This resolution paves the way for the start of construction. With the resolution in hand Los Corales can now prepare to start the project. Within the economic downturn in the United States, Los Corales has still seen a steady flow of interest and pre-construction reservations. Los Corales has secured multiple alternative solutions for financing and investors to start and complete the project. The Los Corales staff reports they are confident in the market even in the downturn, they agree it is slow but values are still in there and with the announcements for the new cruise ship port, and the 1st landing of Holland America in Guaymas just hours down form Penasco, they believe in the long term future of the project and the city. The City of Penasco has been a great aid to the project and they believe in the long term future for the project and for the city.

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