Executive Summary: World Center is probably the most ambitious sustainable development project in Costa Rica today and it will be one of the world’s first zero carbon, zero waste projects of its kind powered entirely by renewable energy sources.
World Center will take sustainable development to a new level and will be a leader in understanding how all future smart and cleantech developments should be built. In our exciting journey we have, and shall continue, to attract and cooperate with international specialists in all areas of sustainability from renewable energy to biomass.
Strategically located in the fastest growing area of San Jose, World Center will be linked to surrounding communities, as well as the centre of San Jose and the international airport, by a network of existing and upcoming highways, roads, and public transport routes. World Center will be nearly car parking free and pedestrian friendly. Several underground parking structures shall be available for visitors’ and residents’ convenience.
Our goal is to develop an internationally-renowned, green-architecture convention center and retail/business facility to serve the ever-increasing demand in Costa Rica from foreign investors and businesses. World Center will serve a capacity of 7,000 attendees, and shall contain a Performing Arts Center, 2 five-star hotel towers, 2 condo-hotel towers, and an office complex, as well as retail stores, restaurants, and entertainment. The Exhibit Halls themselves will feature all of the modern amenities, including state-of-the-art sound, video, and lighting. World Center will encompass 10.8 hectares, located on Costa Rica’s newest, largest, most modern highway, with additional expansions scheduled to be opened to the public in 2010.
World Center features an advanced green energy design. Electricity for the center will be 100% self-sufficient, drawing power from a massive bank of the best solar panels on the market, as well a new generation of wind mills to be placed on top of each building. The wind mills are specially designed to not create disturbances among people.
Costa Rica, recently awarded the 5th cleanest country in the world for its environmental practices based on studies conducted by Yale and Columbia Universities and published in Forbes magazine, is ripe for this type of major international center thanks to sustained growth and continued influx of foreign investment for the past 15 years. A large variety of international companies have established a presence here, including notably Intel, Procter and Gamble, Hospira, and Baxter Healthcare. Many of these companies continue to expand their Costa-Rican based operations, and new companies continue to open operations in Costa Rica. Costa Rica has been and remains an attractive destination to large multi-national companies not only because of the democratic political stability of Costa Rica, but due to the education, skill level, English ability, and work ethic offered by the country’s citizens.
Business, professional and government leaders, convention and entertainment promoters, and many companies dedicated to local tourism, have expressed the urgent need for world- class convention and meeting facilities in the region.
Design:
World Center’s convention and business facility, the first sustainable project of its kind in the world, shall be Central America’s largest and most technologically advanced center. Coupled with this modernity, World Center shall give visitors a sense of the history, beauty and culture of Costa Rica. World Center shall be located on a modern mega-highway, yet also shall be surrounded by one of the most beautiful natural canyons of Costa Rica.
Timing:
We are currently in Master Planning phase and should have all permits and designs in place by September 2009 for the first investment exit of the project. The hoteliers are expected to be named in the 3rd quarter of 2009. First final exit completion date is estimated to be by November 2011. The original equity contribution repay should be completed by July 2010.
Our Team:
Pacific West Development Group, comprised of experts in project development, project management, and contract negotiation as well as local legal and field policy experts, collectively has over eighty years of experience in commercial and residential real estate investments. We are currently involved in several major projects in Costa Rica.
