Taking the next step forward...

After a couple of months of seemingly moving forward with our construction lender, finally two subcontractors were put back on the jobsite last week. This work will begin with the flashing on the roofs of the THEHOTEL, North and South Towers as this will be the beginning process of getting the entire building "dry", it is a necessary step before the details on the interiors can safely be started.

We will also continue with stone work for the exterior details of the front of THEHOTEL. What's nice about this is that it will be something that everyone can see and we will be able to get some real visual progress, as photos will be up on the websites shortly! This has been a difficult couple of months, knowing what was going to happen, but not having an accurate timeline to give everyone. In fact, we are still waiting for a definite date when the rest of the "trades" will be back on the project to take us to completion. All in all, this should be great news for all of us after a number of months of no real visual progress we get to "see" something happening!

Some more good news is that we are moving the Design Center Baja into the building, the Residences; they are building out a small showroom set up for the Design Center at this very moment. This will be much easier for everyone when choosing finishes and details for the individual condominiums, having Liz and her team right there on site. We have talked about taking the Sales Office back into the building also, there are a number of pros and cons on this idea, so it is still somewhat up in the air. If you have a chance, please let us know what you think. Would it be better for you if the Sales Office was in the building also, or do you like the separate office idea better?

Magaly, our Closing Coordinator is moving along with all of the preparations needed for a smooth closing transaction for the condominiums. This has been a huge undertaking on our part, having been through a few closings ourselves; we know how difficult and unpredictable these transactions can be. Magaly and her team are rearranging all the files, collecting information from the reservation holders and building rapport with all of the different authorities that handle the paperwork as it passes through this laborious process. Some people have asked me why we started this process now and the reply is always the same, "we should have started before". Soon, be expecting to be contact with Magaly as she continues to move through each file collecting and disseminating all of the necessary data.

The last piece of new information is our involvement with the Baja California Investment Forum in Santa Monica, CA in October. This is a one-day meeting orchestrated to bring together approximately 150 top ranking corporate and financial executives and government officials from both Mexico and the United States to share valuable perspectives on trends and economic factors which are positively impacting and affecting the real estate, tourism and health service industries of Mexico's north-western region. We were invited by the State of Baja's Secretary of Tourism to attend this forum, the value of projects such as ours being completed and delivered to U.S. investors plays a very large part in the future success of Baja California. Not just you, our reservation holders, but the government of Baja is interested in the progress and success of the Residences and One Eleven. As this type of information becomes available, we will keep you informed.

Everybody, hang in there. It seems there is a light at the end of the tunnel and this time it's not a train! All of us are working diligently to get to the end. At this stage of the future of the project, nobody wins if there are more snags along the way in these next couple of months. The very best thing that can happen for any of us is getting the "trades" back on the jobsite and move towards completion; it is the only way to protect your (and our) investments thus far. We have all been in this together, with a little more patience we can make something good out of a "not so good" situation. Please keep the emails and calls coming, it is difficult to go over each scenario in these abbreviated newsletters, much more information can be given on a one to one basis. There have been a number of clients visiting the project and seeing for themselves the progress we have made these past few months. Everyone, so far has been pleased with what they have seen and it is nice to see the appreciation that they have shown for our hard work keeping their investment safe. It has been great seeing all of the familiar faces of friends. Keep coming to visit! Each week, I get more and more eager to tell everyone that there are 200 workers back on the jobsite and they started One Eleven, but I just don't have that luxury right now. So, I give what I can. And, in reality, there are many, many positive signs out there. Today is a great day, for there is forward movement. As things progress, we will keep you up to date.

Michael Coskey

Please Visit: www.THEHOTELBAJA.com

Sales Office Hours: Monday through Saturday 9:00am until 4:30pm. Closed Sundays.

Check: CDDGNEWS.COM