Investments / Project Progress - Phase 1 (55 Acres)
Investment to date: over $9M (November 2005)

Last Update: November 20th, 2005


Feasibility Study and Addendum (Ernst & Young) (2001)
Tax exemptions approval by the Nicaraguan Institute of Tourism (INTUR)
$10M in CCF's approved in INTUR contract
Environmental approval by the Ministry of Natural Resources (MARENA)
Master planning by UDA Phase 1 and 2 complete
Bridge crossing the river at property's entrance
2 Km Boulevard from bridge to hotel site constructed
11 Km public road upgraded to all weather access
Phase 1 lot infrastructure under construction (Current update on web)
Nursery with more than 45 species and 6,500 plants
Landscaping for Phase 1 lots in process
23 Km 3-phase power line to property complete
Two 100+ gpm water wells on property
1-meter topography of 2,276 acres
Schematic 40% complete by Zürcher Architects
Golf Course design and survey complete by Tom Haugen
Civil Engineering Phase 1 complete (55 Acres)
57 lots sold with construction requirement within two years
Storm sewers and storm water management complete
Sewer system and treatment (completion Nov 2005)
Freshwater system and treatment system (completion Nov 2005)
Cobblestone street surfaces (completion Nov 2005)
Clay brick sidewalks (completion Nov 2005)
Streetlights and fire hydrants (completion Nov 2005)
Fiber Optic telecom and TV to homes (completion Dec 2005)

To view the latest infrastructure progress pictures click here

November 2005 Update

Water systems are in the final design review stage and Ray Steeb will be awarding the contract for freshwater this week.  We still need to purchase a black water system for sewage.  Ray has researched these needs and will make sure that these systems are scalable to grow as the development grows.  Phase I water is based on 100 gallon per person per day with 4 persons per house.  Between Phase I and Phase 1A it is a projection of 500 homes.

It has been suggested that a cistern system be explored as they can be integrated into home designs. We will consider that in Phase II and beyond we need to seriously consider a clause in the sales contract that states each home must be able to capture 40 inches of rain water.

Gran Pacifica is considering for future electrical purposes windmill generated electricity. Windmills now have 7 megawatt generators and this could be a primary source of power for Gran Pacifica and its residents.

DELAYS DUE TO RAINS DURING THE ELAPSED EXECUTION TIME FROM MAY TO OCTOBER 2005.

Following is presented the breakdown of the delays time due to the rains occurred from the beginning of the rainy season until to October.

Until to date had been approved an extension of 30 delays days to all 3 contractors due to the rains occurred during may and June 2005, still are pending to approval of the additional 75 days of delays from July to October 2005. Two of the contractors will ask now for this extension because NAP execution time is already over and Llansa execution time will expired the 16 of November 2005 .

It is important to inform that the project works of all 3 contractors had been completed stopped from September 10 to October 31 because was raining in a strong way almost every day of above period and also the rains damaged several sections of the access road which made the entrance to the project very difficult, it will be necessary to make emergency repairs in the critical points of the road.