Luperón Project apparently dead

[Hillbilly]

The El Caribe reports that the "Atlántica" tourist project, so promoted a year or so ago, is apparently dead in the water. The project had included many famous names, at first, including José Paliza and his wife, Elena Viyella de Paliza, a former president of CONEP>
The article says that the offices on Winston Churchill are now gutted and the furniture removed to a warehouse (undisclosed location) and some of the phones have been disconnected. Pierre Schnebelen, the chief executive, has "apparently stopped his efforts due to financial difficulties." In May there was an announcement that financing had been obtained.
This is not good news for Luperón. They had planned some impressive golf courses up there and tourism would have been a great thing for the little town...

When it sounds too good to be true, it probably is.

HB

[Robert]

From what I hear none of the pre-construction buyers lost any money as Atlantica used Stewart Title escrow services.

Buying pre-construction here is always a risk, unless it's backed by a very well known developer with a good track record or the developer that uses a reputable 3rd party company to handle title insurance and escrow services.

[planner]

Robert that is correct. No pre buyers lost money, all was returned.

I can confirm that the old Developement company is dead, the bank has foreclosed on them and Mr. Pierre Schnebelen for misuse of funds.

However the project is not (as of right now) dead as the New York bank is proceeding on the project and redeveloping the plans.

As I can I will provide more information on this.

[Hillbilly]

Good to know....

What bank?

It is a project that will make some people billionaires! Very important for the region, since POP tourism stops at RIU, and little filters out that way...

And more golf, yes, more golf....

HB

[planner]

Sorry I can't tell you the bank right now. Can't remember the name. It is the bank that funded the 180 Million US loan - with conditions attached to it.

My gut sense is they knew ahead of time it would go into foreclosure and they then could step in.

I will keep you posted. I agree it would be very good for the area - Luperon - the North Coast - the country......

[paradise07]

Just wondering if there are any gated communities or condos for sale in Luperon...I can never seem to find any on the web...And if so, what are the prices like there??? Thanks !

[J D Sauser]

Originally Posted by paradise07

Just wondering if there are any gated communities or condos for sale in Luperon...I can never seem to find any on the web...And if so, what are the prices like there??? Thanks !

I dunno if I just can't see it, but I went to Luperon twice recently:
The village is... erm... well... it's nothing really to talk home about. About 4 or 5 parallel streets all bottoming at the "marina", which really is nothing glamorous worth mentioning either. It all needs some TLC... urgently!
The surroundings are nice. Playa Grande (if my memory serves me well) just West of the town is nice. There is a medium grade AI-hotel operating at on that beach too.
I went to La Isabella in both ocasions... a long road, not too wide really but in good condition... Very scenic! Really worth the trip! Nice little campo villages along it and some nice homes (even a weird one in the shape of a boat, the kids just loved it!) scattered on the hillside enjoying a dramatic view... but... nothing else. Quite? Very much so!
Potential? Yes... Luperon is more or less as close to Santiago as W-Puerto Plata. But it dearly needs some drastic development FIRST. People are still nice and quite natural... and if it was done right, as it still is quite virgin, the village could be renovated and some infrastructure implemented, it could turn out a jewel.
But so far, I could no find much infrastructure that would qualify to satisfy the needs of residents of a mayor development, like super markets or anything... it's good ol' colmado zone.

Personally, I don't believe in developments dumped in the middle of nowhere... but then, Punta Cana would prove me wrong(?).

So, that's just my very limited opinion so far on that location. Yes, it looks much fancier on the Internet and it had therefor made it on my list of potential places of interest... BEFORE I visited. That has now somewhat changed.

... J-D.

[planner]

The project, should it happen, will be massive. The business opportunities in and around the area will be huge. A lot of work would be done in Luperon and it would be justified based on the size and type of developement. You are talking multiple hotels, air strip, cruise ship terminal, marina, 2 or 3 world class golf courses, restaurants, shops, boutiques etc etc.

The design is really stunning. It will be interesting to see it happen.

[LuperonBoater]

Originally Posted by paradise07

Just wondering if there are any gated communities or condos for sale in Luperon...I can never seem to find any on the web...And if so, what are the prices like there??? Thanks !

Good morning! Have you had a look at the brand new project in Luperon? It is called the Luperon Hills Gated Community and can be found on their Luperon Hills Luperon website using Google on the Internet. New project and going strong!

[Andy B]

My recollections of Luperon are not good. Ten years ago I brought my sportfisherman down from Florida and entered the DR there. Due to a problem with one engine I kept the boat there almost 2 months with a local watchman on board. It was a dirty little town that thrived off stealing from the yachtsmen that passed through there, not a good introduction to the DR at all. And bringing cruise ships in there? Get real! The ocean entrance to the harbor will hardly handle a 100' boat much less anything larger and with deeper draft. Even in my 40', it was a little tricky.