#2146 – AN UNFINISHED, CARIBBEAN SEA-FRONT RESIDENTIAL COMMUNITY

A unique opportunity to own a well-established, but unfinished, pandemic-induced, distressed, 114-acre residential community with a beachfront location on the Caribbean Sea in Northern Belize.

Launched in 2008, Orchid Bay is a Caribbean waterfront residential community located in Northern Belize on Corozal Bay. Situated on a 114-acre site, Phase I of the resort development has been successfully constructed and consists of: 24 sold beach club casitas, 12 sold beachfront condominium residences, 30 sold and completed single family residences with 3 additional single-family residences sold and under construction, the 11 room Crimson Orchid Inn (a beachfront restaurant and club), an administrative office building, and residential amenities. In addition, Orchid Bay has also sold 99 single family residential lots, with the residences to be built by the owners through third-party builders.

To date, in addition to the improvements listed above, Orchid Bay has completed construction of the roads, underground electrical distribution to most lots, and a water treatment system which currently serves the existing improvements of Orchid Bay and which can be expanded to accommodate future expansion.

English-speaking Belize is a Caribbean country only 2 hours from the US and home to the Northern hemisphere’s longest reef. Belize has 9 direct flights from the US and is an extension of Mexico’s Maya Riviera and less than five-hour drive from Cancun. Belize is a member of the British Commonwealth and its currency is pegged to the US dollar. It is located in Central America bordered by Mexico to the north, Guatemala to the south and west and the Caribbean Sea to the east. Its mainland is about 180 miles long and 68 miles wide.

It’s a popular travel destination, with approximately 60% of all tourists that travel to Belize being Americans, another 12% Europeans, and 10% Canadians.

Belize currently offers nonstop flights from major US cities including Los Angeles, Denver, Dallas, Houston, New York, Los Angeles, Chicago, Miami, Fort Lauderdale, Charlotte and Atlanta, as well as direct flights from Calgary/Alberta and Toronto Canada, Panama City, Panama, and from San Salvador, El Salvador. Additionally, Belize International Airport and Chetumal International Airport offer daily flights to Mexico City, and they are both approximately within a 2-hour drive from Orchid Bay.

Most casitas on Phase 1 are 1,100 sq. ft. and have 1 bedroom with a queen-size bed, with additional room for 2 single beds in a loft and there is a futon in living room for unexpected guests. The casita could possibly sleep 6 persons. There is a bathroom, kitchen and living room. There is a/c. Casitas are currently selling for more than US$200,000.

The spacious condos are 3 bedrooms and 2 bathrooms and sell for US$350,000 or more.

The development is beautifully landscaped and maintained with all utilities underground. It was planned with 40% green space – high above the development legal requirement of 10% – to give an open and spacious green environment.

There is 3-phase reverse osmosis for potable water throughout the development with a 30,000 gallon storage tank and there is an on-site sewage treatment centre.

The development has 24 hour security and there is good internet reception throughout.

There are currently about 30 full time residents, many who have lived there since the beginning and they are all content and enjoy living there. Most of the residents are North American ex-pats.

For entertainment, etc, there is fishing, hiking, swimming, snorkelling, canoeing, etc. and there are occasional organised trips to Chetumal, a nearby Mexican city, and other places.

The community resort area has a restaurant, bar, pool, and a clean beach.

There is a dock and the development is ideally located with easy boat access –
15 minutes to Corozal Town.
25 minutes to Chetumal in Mexico.
90 minutes to San Pedro on Ambergris Caye.

A new road and bridges are currently under construction locally to give quick and easy road access to Corozal Town and domestic airport and further north to the Mexican border.

Belize International Airport and Chetumal’s International Airport are both a 2-hour drive or a 30 minute water taxi trip. A small airstrip on adjacent land owned by the develoment is planed in the future developments to further improve accessibility.

Included in the sale are 30 large, vacant parcels, most of them being beach-front. The parcels are ½ acre or more in size, with full utilities, and total over 19 acres. They may be utilised for a variety of accommodation models, including hotel towers, etc., or indeed, for other unspecified uses that the buyer may have in mind.
Each parcel is large enough for multiple accommodation buildings and the parcels can also be consolidated to increase flexibility.
The buyer will also acquire a large beach-front lot with an operational and popular, beach club.

A 2019 appraisal (available on request)  put the value at US$10,120,000.

The vision and core objective for Orchid Bay is to become “The Resort Town of Northern Belize”, having the comforts and conveniences of a world class resort area, all within walking distance of the homes in the community. It has a thriving and active Home Owners’ Association.

There may be additional, adjacent land available for purchase for future expansion of the development, if desired.

The current owner has all information on the development and is enthusiastic about the fact that, with additional investment, this could be the largest and best residential community in Belize. He is available for consultation about possible future expansion plans, etc. and is willing to work with the buyer in some partnership arrangement, if desired.

SPECIAL FEATURES –
Caribbean Sea frontage.
Established for 14 years.
Phase 1 successfully completed.
Clean beach with no sea grass, etc.
Full utilities and internet.
Gate community with 24 hour security.
Fully maintained and landscaped.
huge potential for expansion.
Resort area.
Great location.