Local media reported at the end of last month that plans for the stalled "Grand Island" Cancun real estate project have been revived.
Noticaribe reported that the developer, Bay View Grand (BVG), has resubmitted proposals including a new environmental impact report.
According to the news agency, BVG had already started work for the Grand Island on various occasions, but had been halted by authorities for not having the correct permits.
Concerns had been raised over the density of construction for the proposed new Cancun real estate buildings.
BVG describes the Grand Island resort as "One of the most ambitious and extensive projects ever constructed ... in Cancun" and says that amenities will include infinity pools, golf, a beach, gym, a spa, tennis, a marina and games areas.
The updated Cancun real estate project proposals are being examined by Semarnat, the Mexican Government's secretariat for the environment, and the fate of the Grand Island decided be made in due course.
BVG's other projects in the Cancun real estate area include Residencial Bay View Grand and Portofino Bay View Grand, also vacation property projects in the heart of the tourist district.
BVG was founded in Puerto Vallarta, Mexico, in 1996, under the name of Promotora Royal Pacific, before changing name to Grupo Bay View Grand. They currently have 8 developments including the Cancun real estate projects. Their other projects are in Puerto Vallarta, Ixtapa and Acapulco.
BVG's new developments in the Cancun real estate market reflect their faith in the tourist destination. The time is now ripe for Cancun real estate. Since the boom started in the 1980s, prices have constantly gone up and they continue to do so. And the conditions for foreign buyers much better now and it is possible for non-Mexicans now to directly own their Cancun real estate.
With stylish architecture and excellent infrastructure, the city is both beautiful and interesting, as well as exciting and relaxing, Modern-day Cancun's high living standards and cosmopolitan atmosphere make it easy to decide to buy Cancun real estate.
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