U.S. Real Estate Developer Sets Sights on Costa Rica
For the past 52 years, The Jack Parker Corporation has used phrases such as "luxury living," "breathtaking views" and "waterfront paradise" to entice buyers to purchase its high-rise condominiums in New York and residential projects along both coasts of Florida.

But a slowing real estate market, runaway home prices, and the disappearance of land have prompted the privately-owned real estate development company to take these phrases elsewhere -- approximately 1,200 miles south to where CNBC called "the hottest real estate market on the planet." And they are betting U.S. buyers will follow.

Sales begin January 6 for Pacifico, the company's 175-acre, mixed-use development in Playas del Coco, located along the Northwest Pacific coast 22 miles from the international airport in Liberia, which offers non-stop flights daily to and from major U.S. cities including Miami, Atlanta, Dallas, and Houston.

"Costa Rica offers what many consider no longer available in Florida and other popular second home markets -- available land at an affordable price," states Kerry Trowbridge, senior vice president for The Jack Parker Corporation. "Combined with lower construction costs, ample labor, and a welcoming government, it seems only logical that U.S. home builders and buyers are being lured to this less expensive paradise."

The 500 residences within Pacifico -- a collection of 350 condominiums, town homes, and villas; 20 rental apartments, and 150 single-family home sites -- combine Mediterranean architecture with coastal design elements and are being built to U.S. standards, offering custom cabinetry, Kohler fixtures, Whirlpool appliances, and pre-wired for phone, cable and Internet access.

Completion scheduled to begin in March.