Riverside Develops 345-Unit Condo-Hotel in
Red Hot Costa Rican Market

(JULY 31, 2006 -- San Jose, COSTA RICA -- Vacation home development in Costa Rica has intensified since the 1987 Central American peace accord that curbed regional political instabilities. Most recently, Riverside Developers announced the first condo-hotel in the town of Jaco, located less than 90 minutes from San Jose, the capital of this country.

Construction will commence on One Jaco Resort, a 345-unit condo-hotel that will also include resort residences and penthouses, in the fall of 2006. Sales are currently underway on the development, located along the Pacific Ocean. Prices range from $180,000-$700,000.

Investors have called this country a golden opportunity, with a stable economy and skyrocketing real estate market. “There is a huge demand in Costa Rica,” Joshua ten Brink, general manager for Riverside Developers, told MHN. “It is a beautiful tranquility in the country with a tremendous amount of nature.”

ten Brink, who says that visitors to the area can revel in the pleasures of ecotourism, expects One Jaco Resort to be a popular destination for Americans looking for a second home in tropics. “The property values and the taxes are so much lower here,” he said.

Over the past several years, Costa Rica has become as ideal location for both tourist and resident because of a successful democracy, active tourism board and stunning natural reserves, according to Riverside Developers. The trend to become apart of this country’s trend-setting resort community has led to a flood of first-time developers.

“As an investment, One Jaco is a tremendous opportunity,” said ten Brink. “But people want more than just a good investment, they want a destination that’s exclusive, luxurious and will provide a lifetime of great memories. That’s exactly what One Jaco Place will do.”

One Jaco Resort is the newest enterprise from Riverside, winner of the 2005 Bentley Best Development award, which offers hig.