April 2009
By Michael Coskey
Here it is April already, spring, the season of new beginnings has arrived. This has been a difficult newsletter to put together for a number of reasons, the main one being finding the time to sit down and put a few words together. As we continue the lengthy negotiations with our construction lender, time has become a very valuable commodity for all of us here at CDDG. Given the set of circumstances that the rest of the world is in, with regards to economic conditions, things here in our little part of world are beginning to brighten up. In fact, it seems that the reality of the change of everyone’s condition (economic and otherwise) is settling in and acceptance is taking over.
For us, here in Northern Baja we see small but important improvements and progress in finding a solution to our issues. The U.S. media seems to have let up on Mexico for the time being, after month’s long onslaught on the security issues related to the criminal element, the daily reports of violent crimes in the border towns have slowed way down. For those of us that live here, there has always been a different perception to these “out-of context” reports. I personally have spoken with a number of you about the concerns of traveling to Mexico and how in reality, these security issues do not pertain to us. It can’t be said that what is happening is not happening, but if one takes the time to look past the story itself, it becomes evident that these crimes are being committed “amongst themselves”. These are true turf wars and the number of people not associated with the cartels involved in any of these crimes is infinitely small. Your chances as a tourist being involved in any crime while visiting Mexico are almost non-existent, take a look at this Los Angeles Times article: LA Times Article
Next, we are beginning to see more and new faces in Rosarito, it seems that those that were staying away are finding a way to come enjoy themselves on those small Mexico “getaways” again. Now, don’t get me wrong, Rosarito is not overrun with tourists, but there is a bit more activity each weekend, it is a great sign for all of us. More and more people are venturing back to this area for a little fun and relaxation, especially the ones that are somewhat accustomed to driving through Tijuana and traveling the toll road. The Rosarito Convention and Visitors Bureau is planning a Cinco de Mayo celebration next month, they are looking for a way to invite those tourists that are familiar with this area back to show them that it is still very safe and let them see what they have been missing, a “whole lot of fun”!
Finally, with us, our negotiations with Banorte have gone way past conversation to entering into agreements. This is a huge step for everyone concerned; there is now an “executive plan” for completion and delivery that will begin shortly. We were looking for construction to start back to a familiar pace by the 3rd week of April, but unfortunately this is not the case. There is much legal repositioning and paperwork on both sides that need to be taken care of before the release of the new construction funds. The good news is that, even in these troubling economic conditions, our construction lender sees the value of what the Residences represents and they are willing to fund the project to completion. This is an incredible step on their part and an incredible turn of events for anyone associated with CDDG on any of their projects. As these events transpire, we will keep everyone informed as how things will play out in regards to construction, amenities, hotel operation, completion and delivery. In reality, we hoped that construction would have resumed by now, but these types of negotiations are much more difficult than they seem in the beginning. Through all of this, we were looking for a solution for all our reservation holders of the condominiums. In the end, it has come together and we will deliver everything and more of what was reserved for. When we get closer, we will keep everyone posted of the progress. In these uncertain times, we hope this helps to bring some relief to the stress everyone seems to be under. We want to thank all of you for your support and patience.