mexico`s best beach estates

APRIL / MAY 2008
E X C E P T I O N A L WA T E R F R O N T, G O L F, C O U N T R Y, M O U N T A I N A N D V I N E Y A R D P R O P E R T I E S
MEXICO’S BEST BEACH ESTATES
Cabo l Careyes l Punta Mita
PLUS THENEWESTPARADISE
FIRSTLOOK lSteve Case’s Costa Rican Resort
ARMANIEXCLUSIVE l The Designer’s Sleek Dubai High-Rise
FUTUREHOTSPOTS lVietnam, Nicaragua & More
GROUND FLOOR
THE INSIDE TRACK ON THE LATEST DEVELOPMENTS
Puerto Vallarta, Mexico
El Banco
Former Yahoo chairman and CEO-
The Koogles bought
the 100 acres that
comprise El Banco
shortly after their 2003
honeymoon in Mexico.
Two recently
completed show
homes, Villa Los Arcos
(below and opposite)
and Villa Mirador
(inset), feature interiors
by Rachel Horn.
turned-developer Tim Koogle and his
wife, Pam Scott-Koogle, fell in love with
Mexico in May 2003, while on their
honeymoon. Won over by the charm and
natural beauty of the region, the couple
purchased a private residence, Casa Gaviotas (Vacation Homes, April/May 2006), in
the area less than four months after their
initial visit. A year later, they acquired
more than 100 acres of Puerto Vallarta’s
jungle and beach near the home, known as
El Banco. Their intention was to turn the
pristine land, which is bookended by cliffs,
into a low-density luxury community.
Mexican architect Juan Munguia conceived the master plan for the project,
which is expected to reach build-out in
2012. Munguia, who designed the World
Trade Center in Guadalajara, and his team
called for four low-occupancy subcommunities: El Banco Estates, Beach Villas,
Casitas by the Lake, and Villas by the Park.
An all-suite boutique resort, Las Banderas
del Banco Hotel and Spa, also is planned
for the development.
Scheduled to open in 2010, the hotel
will be operated by Atef Mankarios,
whose other properties include San
Ysidro Ranch in Santa Barbara and the
Kona Village Resort in Hawaii. “It will
give residents a great facility where they
can go to the restaurant and the spa, have
coffee, and read The New York Times,” says
Koogle. Amenities will include a beach
club, indoor and outdoor dining areas, a
spa, and a cooking school.
Intimately involved in the design
of their property’s homes, the Koogles
wanted to bring elements of Central
Mexican colonial architecture and design
to the beach.They enlisted San Miguel de
Allende–based interior designer Rachel
Horn to manifest their vision in two show
homes known as Villa Los Arcos and Villa
Mirador, both of which are for sale in the
Beach Villas community. “We combined
the natural beauty that is Puerto Vallarta
with the romantic elegance that is Central Mexico,” explains Scott-Koogle, who
also worked with Horn on the design of
the Koogles’ San Miguel de Allende home
(“Colonial Color,” page 110). “We told
Rachel that we wanted something scaled
back, light on its feet, airy, and open.”
The villas’ elegant design features
include romantic courtyards, reflecting
pools, and outdoor salas that blur the
distinction between indoor and outdoor
space. The first seven Beach Villas, ranging from 7,500 to 10,000 square feet
and priced between $6.25 million and
$7.5 million, went on sale in November
2007. Another seven will be released later
this year in the second phase of sales. The
El Banco Estates were sold in 2005, but
homes in the Casitas by the Lake and
the Villas by the Park communities are
expected to be released for sale in 2009.
Alexandra Drosu
El Banco, www.elbancomexico.com.mx;
Residences available through La Punta Realty,
+52.329.291.6420, www.lapuntarealty.com
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