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| Caribbean Property Magazine Home / September 2010 / 'Caribbean Developers : Montecristo’s Visionary Couple' | SEND THIS PAGE TO A FRIEND  |
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S E P T E M B E R
 2 0 1 0 Issue 44
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| CARIBBEAN DEVELOPERS : MONTECRISTO’S VISIONARY COUPLE By S. Mar Carter Caribbean Property and Lifestyles Magazine recently had the opportunity to interview Lori and Jorge Estrada, the visionary couple who have created the ultimate seaside community, Montecristo Beach Resort and Golf Club, in Nicaragua. In the highly informative interview, the couple share their vision and commitment to developing the leading seaside community in Central America. SMC: Lori and Jorge, thanks so much for taking the time to speak with us about the Montecristo Beach development in Nicaragua. It is certainly one of the premier developments in Central America and the Latin Caribbean. LE: Thanks, Susan, we work very hard to ensure that. SMC: I’d like to start off with some questions about you and your family’s life and background and how you ended up in Nicaragua as owner and developer of this project. LE: Great. What can I tell you? SMC: Prior to making Nicaragua your home, where did you live and work? LE: We were living in a suburb of Chicago, Illinois in the United States. SMC: If you can briefly tell us about your life there… LE: I certainly can. I was a practicing physician and my husband had a real estate business. The best way to describe our life in the USA in two words: BUSY and HECTIC!! I guess you could say that is similar to here except that the norm in the US when we left was to run 7 days a week – family scattered everywhere and nobody sat down to dinner together every day anymore. We felt as though we were just numbers and everything was very impersonal.  IN NICARAGUA, THE FAMILY UNIT SEEMS TO BE MUCH CLOSER THAN IN THE U.S. - WE FELT WE’D HAVE A BETTER QUALITY FAMILY LIFE HERE. SMC: What were some of the governing factors that prompted your move to Nicaragua? LE: Jorge’s was from Nicaragua – he had left for the US in 1979 and had always wanted to go back. He has a long history of presidents, generals and congressmen in his family and always wanted to do something for Nicaragua. That was a priority, and from day one, we established social service programs here. We were also concerned as our oldest child (we have three – they were ages 14, 7 and 5 when we moved here) was in junior high then and noted the tremendous amount of peer pressure - we knew families that had trouble and we didn’t want any! In Nicaragua, the family unit seems to be much closer than in the US – we felt we would have a better quality family life here.
LE: When we moved to Nicaragua, everything SHUT DOWN on Saturday by noon and didn’t open until Monday at 10:00 am – there were no new grocery stores (like there are today) or any malls…little conveniences like 24/7 markets did not exist then so you could not just run out and get something any time you wanted. SMC: Once in Nicaragua, what were the most difficult things for you and the children to adjust to? SMC: Wow that would take a readjustment after living a life with those conveniences in the States. How long did it take before everyone felt really ‘at home’? LE: Almost immediately! Firstly, our first evening in our new home, around 8 pm, the doorbell rang – it was a group of neighbors with all kinds of goodies (different types of local foods) that had come to welcome us – among them Dr. Solis, who invited us as guests on his weekly medical show to introduce us to the country as we were just opening our clinic. We were overwhelmed by the warm, friendly hospitality of the people of this country! Although the movie theaters were not new state of the art (as they are now) the same movies were playing as in the US and in English – so my children didn’t feel as though they missed anything (that was important to them!).
LE: We immediately purchased a home on a local beach where we spent every weekend – the children made friends there and enjoyed good clean outdoor fun and we spent quality time together! SMC: Can you tell me how you transitioned from working professional in the States to working professional in Nicaragua….what were your challenges, and what are the key differences…good and bad! LE: In my medical practice I think the hardest concept for me to grasp was the lack of punctuality for an appointment! Patients seemed to show up when they felt like it (that has changed some – they learned that our office works by appointment.). A big difference here though is that patients expected to pay for their visit at time of service – unlike the US – where everyone’s attitude was ”bill my insurance” and also folks here don’t call their doctors after hours unless it is a true emergency (which I fully expect and want to be called for) but really respect our time outside of office hours. SMC: How about family life…has that changed much and if so, can you describe the changes? LE: We enjoy family life here – I did have household help in the US (a woman that came and cleaned a few times a week and lawn service), however, here I have live in maids, a cook, gardener, messengers, drivers…this allows me to spend my free time WITH my family – I come home and dinner is ready on the table for all of us, instead of having to cook it ourselves after a LONG day (my day starts at 5:30 am). I don’t do laundry, clean the house or do the grocery shopping – Jorge doesn’t mess with the cars or the lawn – this has allowed us to really relax with our family in our free time – we don’t have a list of things we should be doing when we are out having family time! |
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| SMC: Stop, I’m green with envy! Really, you are describing a wonderful lifestyle, as for most of us there is never enough time for family or self….just an endless list of chores and to dos day in and day out! LE: Exactly, so escaping that has put us right where we wanted to be as well …with our family, enjoying our children. SMC: Jorge, you worked in real estate in the States….Has your work in that area changed now that you are in Nicaragua? Can you describe any challenges you have found working in Nicaragua… JE: My work has been the same in this country – just on a different scale as Montecristo is a much larger and long term project. Certainly we have had some challenges – during the rainy season there are challenges to construction that we don’t see of this magnitude in the US. There is some red tape here for permits - mainly it is the inconsistency in time - we have seen that to be very fast or sometimes can drag on for a long time. SMC: So you are both the full time developers of Montecristo at this stage of the building - or is that situation yet to come? JE: We are in a large scale building phase right now! SMC: Let’s talk about Montecristo. How did the vision of Montecristo emerge to you both….what was the impetus? LE: My parents started visiting us in Nicaragua from the time we moved here and fell in love with it – they kept telling us to find them beachfront land for their home in an active neighborhood here – when we thought about everything they would need to be happily living there – we realized we’d have to build it! SMC: Well, that’s how great things come about….recognizing and then filling the void. What can you tell us about the Montecristo work team? LE: Our team is made up of a mixture of engineers, topographers, architects, golf architects and builder and land planners from both the US and Nicaragua. Each was chosen for their particular area of expertise. OUR VISION FOR MONTECRISTO IS A COMMUNITY! SMC: Sounds like a good mix of professionals. Can you explain your mission for Montecristo? LE: Our vision for Montecristo is a COMMUNITY! We have never thought of ourselves or marketed ourselves as a retirement community, although we are a great spot to retire! Our vision for Montecristo is to have a cohesive group of owners of all different ages – like you would see in many neighborhoods throughout the US. Although it is a great spot for a relaxing vacation, our vision is folks looking to live full time or at least six months of the year in Montecristo (we have rental and property management services in place). SMC: What about the overall master plan for various sections and your amenities, such as the golf course - how many sections are within your Montecristo community and what type of units are those? Also, is the Master Plan on schedule?  LE: Montecristo offers six unique, yet cohesive neighborhoods, to suit every type of lifestyle. From casitas, townhomes and condominiums on the beach to spacious estate lots, you will find elite amenities and first world building quality. Most importantly, we will make Montecristo our home and are committed to making it a place that residents will always be proud to call their home. The neighborhoods are as follows: VALLE DEL MAR, an active 50+ neighborhood, is set among small private parks, is the best of village living. You can stroll to the village center for an evening meal or some quick shopping, take a walk on a nature trail, go for a horse ride or just enjoy the small parks outside your home. CUMBRES, named for the cliffs on which it sits on what is arguably the most beautiful piece of Nicaragua's Pacific coastline. Almost every site boasts a spectacular view with only a few minutes’ walk to the beach. Single family home sites. Custom and turnkey homes of varying sizes available as well as studio casita suites with private pools. SMC: Lori, this sound simply amazing. I can’t wait to visit! Do you also provide appliance and furniture packages? LE: Our building packages can be completely customized or completely turnkey - just bring your clothing and a toothbrush! SMC: Can you provide some details on the infrastructure and will you have amenities such as WiFi in the community? LE: We are currently paving our roads, utilities are underground and WiFi is available to some areas (by the time this is printed it should be to all!) SMC: What is available for residents as far as activities and socialization….parks, clubs, tennis, horseback riding, etc? LE: We are still in the building phase although we do have some residents on site – our restaurant site and beach lounging area has begun earth movement. We will be open for limited (small menu) by January 2011. A playground area will be completed by then as well. Horses are available to ride and of course: the beaches! Fishing and tourist excursions can be arranged as well. ATVs are available and after the rainy season kayaks for the Rio Soledad through our Costa Azul neighborhood. SMC: I see that family is important to you and you’ve included family units. What type of infrastructure will be in place for children? Also, are there good quality schools near Montecristo? LE: We have a play area and jungle gym about to begin construction. There are two very good English speaking schools offering Pre-K through high school that are in daily driving distance from Montecristo. And, the nice thing is that there are carpool arrangements for those who have school age children. SMC: How many units will have full time owners in residence, how many are part time, vacation or income generating units? LE: We expect Montecristo to be 50% fulltime and six month per year in residence and about 50% of the units used for vacation residence. We have a complete property/rental management and concierge services already available. AS THE OWNERS WE ARE FREE TO HANDLE FINANCING ON A VERY PERSONAL LEVEL AND CONSTRUCT AN AGREEMENT THAT WORKS WELL FOR ALL OF US – BOTH BUYER AND OWNER. SMC: Are there any particular in-house purchase plans, or mortgage services available? LE: As Jorge and I are the owners of Montecristo we are free to handle financing on a very personal level and construct an agreement that works well for all of us. SMC: Will there be HOA fees and if so, how much and what will that cover? LE: At present, these are $600 per year. This will increase as amenities are completed. When the front nine holes of the golf course is completed they will be $1850 and when the full 18 holes are playable, $2500 per year. These fees include full golf membership and maintenance of all common areas, utilities and amenities. SMC: Those are extremely reasonable HOA fees considering the extent of your facilities and amenities. Would you say that Montecristo is Nicaragua’s fastest growing development? LE: I think so – we have 21 building contacts right now for private homes within Montecristo. I don’t think other developments are seeing that growth. SMC: To what particular market, if any, have you been promoting Montecristo? LE: Our market is 97% North American and I don’t see that changing very much. SMC: Time to toot your own horn here…in your words what are the key differences between Montecristo and your competitors in the region? LE: Susan, without a doubt it is our personal touch! Jorge and I meet every client that comes to visit Montecristo and give them a personal tour – after all – they might be my neighbor! From the purchase process to building and moving in we are there helping them every step of the way to make their transition as easy as possible. We continuously personally walk the construction sites to assure our fine quality and add our personal touches to the finished product making sure that each home is a work of art – and add something that every owner can see and appreciate – knowing that we’ve paid attention to all the little details that make their home special. We are always here for them – and easy to find! This is our home and we are committed to this development on a very personal level.  SMC: For the past five years there has been a large exodus of folks leaving North America. As that continues, people will take a close look at Nicaragua, and certainly at Montecristo. Lori and Jorge, thanks so much for taking the time to provide this interview for our readers. LE: Thanks Susan. We have really enjoyed talking with you and delighted to have the opportunity to bring awareness about what Nicaragua to your readers. Fortunately, what Nicaragua has to offer is now beginning to surface in North America, so I expect that we will not only maintain our current momentum but we will see a huge pickup in 2011. |
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