Yesterday in Guadalajara an important alliance was formed, which could could prove to be pivotal for future development along the coast of Costalegre, just south of Puerto Vallarta.The Jalisco State Pension Institute has aligned with Rasaland Development to develop 1,200 hectares for a future real estate mega-development that, in the words of the Governor of Jalisco, Emilio Gonzalez, could one day rival Cancun. (I think that very optimistic thinking!)
The development, which is currently called “Chala”, is located just north of Las Alamandas and Careyes in the heart of Costalegre on a peninsula, surrounded on one side by ocean and the other by two large estuaries. The government of Jalisco is also involved indirectly by improving infrastructure in the region. A new air strip, capable of handling international flights, is set to be completed this year and is just five minutes from Chala. As well, road improvements will comment to widen highway #200 from Puerto Vallarta, as well as the highway from Guadalajara that passes through Melaque.
The state pension fund will invest $89 million dollars while Rasaland will invest $94 million dollars. A total investment will exceed $300 million when completed. Although development is in process, it is not expected to begin any formal construction development or marketing until 2012.