Loreto Bay - A History
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The community of Loreto Bay has an interesting history. Fonatur, the Mexican government department of tourism, first developed Loreto as a tourism opportunity in the 1970’s and built two hotels and a convention centre in the Nopolo area but it remained only a marginal success until the potential for a new international development was recognised by the late David Butterfield. Loreto Bay was originally conceived and designed to be a residential pedestrian community with a vision based on sustainability and environmental sensitivity. This vision fitted in well with its location on the shores of the Loreto National Marine Park and at the foot of the Sierra Giganta mountain range and is still an important part of the guiding principles of its residents. Sadly, the original developer, TSD, went bankrupt in 2008 and then the development was briefly owned by Homex who soon revealed their own financial problems and eventually much of the undeveloped land, the hotel and golf course was transferred to Ostar and Inbursa, both part of the Carlos Slim financial empire.
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The Determination
Throughout all the uncertainty and financial challenges, the owners of properties in Loreto Bay have continued to improve and develop their community. With no developer behind them and financed only by the HOA fees and special assessments collected from its homeowners, the Loreto Bay HOA (one of the largest condo corporations in Mexico) has achieved results that are nothing short of miraculous. The colourful homes are stunning and the beautifully landscaped lanes and the courtyards with their cooling fountains are a delight to walk through or sit in. There are three swimming pools for the use of residents and their guests and there are spacious communal areas where planned outdoor concerts and gatherings are often held. Several wonderful restaurants and small businesses now exist to service the residents and there are, of course, the hotel-owned 18-hole golf course and the tennis courts that are available for use by all.
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The Development
The community of Loreto Bay is built along both sides of the main road (The Paseo) and is divided into two distinct geographic neighbourhoods, both surrounded by the golf course and close to the Sea of Cortez. ‘Founders’ is the southernmost neighbourhood and is located closest to the Inn at Loreto Bay. It contains the oldest homes and most of the commercial property. It is divided into 8 sub-regimes with 2 more pending. ‘Agua Viva’, the northernmost neighbourhood, has 4 sub-regimes and is the area where most new construction is continuing. Agua Viva contains several lakes and canals that are currently being improved by the adjacent sub-regimes. While the two neighbourhoods have their own distinct personalities, they are very much part of the one community of Loreto Bay.
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The Demographics
While Loreto Bay was originally marketed primarily to Americans and Canadians, there are now many Mexican homeowners as well as some from other countries, giving the community a truly cosmopolitan feel. Loreto Bay from its inception has always considered itself a part of the larger municipality of Loreto and much time and effort of its residents is put into supporting local charities and co-operating with Fonatur as well as supporting the local authorities with their efforts to protect and preserve the important local natural areas, the wildlife and the Sea of Cortez. Through the recycling efforts of Loreto Bay and area and with the support of Fonatur, the local area (Nopolo) was recently recognised by EarthCheck as one of only three Mexican communities to be awarded for making significant efforts towards sustainability and there is now a plaque at the entrance to mark this achievement.
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The Future
There are currently more than 600 completed homes in Loreto Bay and that number continues to grow. Many of the homeowners offer their properties for short and long-term rentals and since the Canadian airline, WestJet, began flying directly to Loreto from Calgary in 2015 the demand for rental properties has increased exponentially. While helping to support the important commercial ventures in Loreto Bay, this influx of visitors has affected the demographics and is changing the immediate and future needs of the community so the HOA is continuously adapting and planning to accommodate these needs. Loreto Bay, as with all living and growing communities, continues to be a work in progress, but the determination and vision of this group of homeowners is certain to keep this development one of the best in the world.