Posted date: 10/11/2006
Trump Resort Seen as Boon for Region
Baja California leaders are buoyed by the entrance of real estate mogul Donald Trump onto their turf.
Last week, the Trump Organization announced plans, in conjunction with Los Angeles-based development company Irongate, to build the luxury 25-story Trump Ocean Resort Baja Mexico about 30 miles south of San Diego.
“The entry of a world-renowned group such as that of Mr. Trump validates completely what we have been saying for many years,” said Gabriel Robles, the president of ADETUR, a major association of Baja resort developers.
Trump plans to build a 526-unit condo hotel, with units ranging from 532 to 2,200 square feet, selling from the mid-$200,000s to more than $1 million. Construction is expected to begin this year and finish in 2008. The cost of the project is undisclosed.
“The Baja Norte market provides tremendous opportunities for investment in a secure, government-supported business climate,” said Robles. “The Trump Organization is first-class and its presence in our region will certainly go a long way in providing our buyers and investors with a real confirmation that they have made a sound decision to buy in this area.”
Trump’s resort will be in the Punta Bandera area, along Baja’s scenic Gold Coast from Tijuana to Ensenada. In recent years, more than 50 developers have built about 10,000 units there, with prices ranging from $100,000 to more than $1 million.“Since Trump signifies elegance, it will improve the level of real estate development in Baja, and this definitely will impact potential clients’ confidence in future purchases in the region,” said Hugo Torres, who announced plans this year to build a 270-unit condo hotel at his Rosario Beach Hotel.
Trump’s project will be about eight miles to the north of Torres’ property.
“It already is affecting us in the sense that developers here are being saturated with phone calls and appointments from interested clients,” said Torres.
— Pat Broderick