21282 - Property for Sale for Apartment Building Development in Escazú

Description:

Country Club Property

Property for Apartment Building Development, close to Costa Rica Country Club entrance, Escazú, San José

Investment opportunity directed to family groups or apartment building developers seeking a high-potential development site in one of Escazú’s most exclusive areas. This property is positioned for a high-end residential market, with particular appeal to clients who are members of the Costa Rica Country Club, as the property is located less than 100 meters from the club’s main entrance.

1) DESCRIPTION:
· Combination of two adjacent properties, with value focused on their vertical development potential.
· Legal consolidation of both properties results in a total unified area of 1,681 m².
· Strategic location with spectacular view of the Costa Rica Country Club.
· Consolidated urban setting with immediate access to main roads, commercial areas, corporate centers, and essential services.

2) LAND USE AND ZONING:
· Zoning according to the Escazú Municipal Master Plan: Zone for High-Rise Construction (ZCEA).
· Under current regulations, the parameters of the High-Density Residential Zone (ZRAD) apply.
Permitted density of the property allows for up to 20 residential units (apartments, studios, lofts, etc.).
· Maximum permitted height: up to 30 meters (10 stories), subject to approval by the Civil Aviation Authority.
· Maximum site coverage: 75%.
· Possibility to apply additional density and height incentives for vertical residential development projects.

3) DEVELOPMENT POTENTIAL:
· Site for the development of a luxury apartment tower for sale, or a residential apartment complex for a family group. An ideal product for vertical residential developers and real estate investors.

Potential for mixed-use development, incorporating light commercial spaces on the ground floor, subject to design criteria and municipal approval.