Our friend Chuck Soberman lives in San Miguel all winter and has been talking about this project for a couple years now. Sounds like a winner in a great Mexican city… Nice to hear about new projects starting, maybe yet another sign of the turn around in real estate beginning again?
Bald Mountain Development LLC of Aspen has started foundation construction on a high-end resort/condo project in San Miguel de Allende, Mexico.
Bald Mountain’s Mexican subsidiary, Bald Mountain de Mexico SRL, initially hoped to break ground on its Rosewood San Miguel de Allende project in early 2008, with the hotel and some condos opening in fall 2009.
The developer now expects to start vertical construction in summer 2009, and open the property in late summer 2010.
San Miguel de Allende is located in central Mexico, roughly 180 miles northwest of Mexico City.
Rosewood Hotels & Resorts LLC of Dallas will operate the Bald Mountain resort.
CarVal Investors LLC provided construction funding for the project. The investment company is a subsidiary of Minneapolis-based food, agricultural and risk-management conglomerate Cargill Inc.
The hotel part of the project will include 63 rooms, most of them suites, and amenities such as spa, restaurants, rooftop lounge/tapas bar and wine/tequila cellar.
An unspecified number of condos, called Artesana Rosewood Residences, will range from 1,800 to 7,500 square feet in size, with two to five bedrooms.
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