U.S. Developer Plans 400-Unit Full-Ownership Property for Seniors in Mexico

February 15, 2007

By Barbra Murray, Contributing Editor

Front Porch Development Co. has announced it will develop a 400-residence full-ownership property, targeted to the over-50 active adult community in Nuevo Vallarta, Mexico. Burbank, Calif.-based Front Porch Development claims to be breaking new ground as it will be the first American developer to penetrate the Mexican active adult full-ownership market with the waterfront development. Luma will be part of the English-speaking Paradise Village resort community, which sits along the Bay of Banderas about a half-hour from Puerto Vallarta. The property will feature a wellness center, meeting space, a café and bar, a library, a sports room and an art gallery. Additionally, the development will be designed to avoid disturbing the area's plant and animal life.

Front Porch Development is joining forces with Mexico-based real estate company Grupo Krone on the development of Luma. Grupo Krone has a presence in Mexico and the United States.

Front porch is a development partner of the non-profit senior living real estate company Front Porch, which has a portfolio of 13 retirement communities in California, Florida and Louisiana.

Marketing for Luma will be predominantly focused on prospective buyers in North America, but potential residents in Mexico will be targeted, as well. Construction is on target to begin this fall with a projected completion date of fall 2008 for the first series of residences; the remainder of the development will be finished within four years of construction start.