Nature and growth in Baja California - International Herald Tribune- California News
The 8,000 acres of the Loreto Bay Resort on Baja California snuggle on flat, hard desert between the charismatically craggy Giganta range and the spookily glassy Sea of Cortez. The most basic elements of nature — sun and water, rock and sand, the vertical and the horizontal — collide with that particular grace that only nature can produce. If the vision of the Mexican government and an American developer is realized, a decade from now Loreto Bay will include 6,000 homes, from small condos to 3,800-square-foot custom houses, most of them probably to be owned by American retirees or part-time residents. Financing is available through American lending giants like GE Capital and Citigroup — whose property arm, is, in fact, the majority owner of the Loreto Bay Resort. The government put about $200 million into roads, water, sewers, electricity and a small airport, then promptly seemed to forget about the area as Los Cabos (including Cabo San Lucas) and Cancún began to blossom. More California News
