The Laguna Del Mar project near Rocky Point has been sold, will the new ownership spark a resurgence of the project?
The Laguna Del Mar located near Rocky Point along the Sea of Cortez, was planned as a luxurious retirement community and seaside golf resort. It had been owned since 1999 by a large US Corporation called Alliant Energy Corp. Alliant has decided to sell its International venture to a group known as Salvago Mexico. Salvago Mexico is a group of investors from Spain. The total sale price has not been disclosed.
As mentioned, there were grand plans for the Laguna Del Mar project. Depending on who you talk to, you will get varying opinions on the project and its measured success. However, reported facts seem to side with the nay sayers for the moment. During construction the project fell into some pitfalls. In 2000, a sea wall designed to keep the area safe from the large tidal swings common to the Sea of Cortez, was destroyed and construction was halted. Shortly after that, the Alliant group fell into disagreements with other development partners and decided to claim full ownership. This disagreement phase stunted construction yet again. Suddenly, competition in the near by area of Puerto Penasco got in the way as well.
While the Laguna Del Mar project was slow to take shape, nearby competition was springing up fast and furious. Projects began developing along the Sandy Beach resorts area and the popularity there was very evident. Investors began to pour their dollars into Sandy beach projects and this investment spurred the growth on Sandy Beach to what it is today. This seemed like a dagger into the heart of the Laguna Del Mar project.
Enter Salvago Mexico, with hopes of a resurgence to the project. It is unclear what the new ownership group has planned for the Laguna Del Mar development. Many will say it is in good interest for the Rocky Point area that this project takes shape. However, if all else fails there is still Sandy Beach. Once, Laguna Del Mar was the only Rocky Point golf in the area. Now Las Palomas resort has a coveted golf course of its own. It will be interesting to watch the developments take shape in the Laguna Del Mar area and as new developments surface, we will report on them good or bad.