In a recent article, The Corridor, I talked about the large tracts of undeveloped ocean front land outside of Punta del Este and the ultimate build out of these areas. Well……the development is underway. And the development has nothing to do with the La Punta area.
The area in question is Punta Negra. (The Corridor article offers graphic and satellite links to find Punta Negra.) The development that’s now under way will include a five star hotel and over 200 home sites. The homes are projected to be in the $1 million plus range. As you can see, Black Point is near Piriapolis, but is really in a no man’s land between Punta del Este and Pira.
Our call from over a year ago on Coastal Uruguay, that these expansive tracts outside of Punta del Este would develop in the near future is coming to pass. What we didn’t foresee is that much of the development would be on the Luxury end of the market.
With the Sugar Loaf and the Punta Negra projects, the high-end/luxury part of the market is starting to take off.
Stay Tuned!
Steve Bowman
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