SOURCE: Luma

November 19, 2008 06:00 ET

Retirement Dollar Goes Farther on Mexican Riviera: Boomers Head South in Favor of Value and Lifestyle

Luma, Mexico's First Beachfront Active Adult Community, Offers Affordable Quality Luxury

BURBANK, CA--(Marketwire - November 19, 2008) - Beaches, beautiful weather year-round, and easy living are what most retirees envision for their golden years. Yet a high price for that picture perfect beach home in many popular American sunbelt locations -- along with today's financial turmoil -- means that retirement dream may be quickly fading. So what are the options?

Many baby boomers are heading south of the border where not only are beachfront homes easily 50 percent less than in the U.S., but the culture, lifestyle and resort-style communities are all very attractive.

Luma, the first American developed, full-ownership, active adult beachfront community in Nuevo Vallarta, Mexico, will be a vibrant resort-living community for those 50 years old and over. Phase One opens in late 2009 with spacious, quality-built luxury beachfront condos starting at $500,000.

In addition to real estate value, buyers are attracted to the quality of life in Mexico. For the second year, Mexico was ranked as the number-one place to retire by International Living Magazine -- and for good reason. The pace of life is slower in Mexico, and it offers great weather year-round, top-notch healthcare, plenty of old-world charm with modern conveniences like high-speed Internet, VOIP, and big brand stores. In addition, Mexico, and Puerto Vallarta in particular, boast superior accessibility via direct flights from major cities in the U.S. and Canada.

Luma embodies this Mexican quality of life and offers luxury amenities such as a saltwater infinity pool, fitness and wellbeing center, oceanfront dining, and a unique Personal Lifestyle Concierge Program. Its location within Paradise Village also provides residents access to championship golf, sports clubs, spas, restaurants and bars, and shopping.

"Beyond lifestyle and price, buyers should pay close attention to quality and security," said Bill Jennings, president of the Burbank-based Front Porch Active Adult Communities, a partner developer. "Our vision is to deliver on quality: everything from superior construction to secured parking, to top-end finishes so our 50-plus residents can enjoy fine living in one of the most popular destinations in Mexico."

Construction quality can vary widely in Mexico. Buyers should ask about the developer and building details. At Luma, meeting the highest construction standards comparable to top-rated buildings in the U.S. is a key priority.

Developed through a partnership between two established companies known for high-end product, U.S.-based Front Porch Active Adult Communities and Mexico-based Grupo Krone, Luma's quality is in the details. For example, windows are double-paned and hurricane rated; the AC systems in each unit have built-in dehumidifiers; closet doors have air-circulation vents; the deep underground pile foundation is built to American earthquake standards; the water is filtered and purified property wide; and walls and floors are built to resist the effects of humidity and block sound. The finishes are equally high quality, including 11- to 13-foot-high ceilings, gourmet kitchens, open concept floor plan with a foyer, living room with a natural stone wall, and large wrap-around terraces.

Buying beachfront real estate in Mexico is another consideration and it is straightforward. In recent years, the Mexican government went to great lengths to make buying and owning property easier for Americans and Canadians. In addition, today's sales representatives in Mexico are skilled in helping buyers easily navigate the process.

"As baby boomers plan their retirement in today's volatile market, value and security in addition to lifestyle are critical considerations," concludes Jennings. "But good options are out there where boomers can bask in the many benefits of living in Mexico's Riviera sunshine."

About Luma

On the beach of Banderas Bay, Luma will encompass seven 10-story towers showcasing bold Mexican architecture. The towers are planned so each condominium will have views of the ocean to the west and mountains to the east.

Luma will include 264 beachfront homes, along with many community services and amenities for active adults aged 50 plus. Phase One is scheduled to open to Luma's first residents in fall 2009. Pricing ranges from USD $500,000 to $2 million.

For more information, call the Luma sales team toll-free at 1-866-554-LUMA (866-554-5862) from the U.S. and Canada or 01-800-123-LUMA from within Mexico; visit www.LumaLiving.com; or visit the sales studio and model home.

Front Porch Active Adult Communities, LLC is a Burbank, California-based company dedicated to enhancing the lives and lifestyles of active adults by offering resort-style communities with a broad range of amenities and services that 'celebrate the art of the individual.'

Grupo Krone is a housing and land development company with 21 years of experience and a diverse portfolio of award-winning developments throughout Mexico and the U.S.

As partners, Front Porch Active Adult Communities and Grupo Krone believe in the importance of developing communities that are economically sound, environmentally responsible and supportive of a community spirit.

Editor's note: Photos, renderings of the property and model home as well as a sidebar on buying property in Mexico are available upon request.

Contact Information

  • For more information contact:
    Kate Rapson
    Graham & Associates
    Email Contact
    (415) 986-7212