The price for a 200-acre beachfront property in Aguadilla that had been reserved for the Discovery Bay Resort & Marina development has dropped to $3 million, from the $9 million sought three years ago through an auction.
The listing for the proposed mixed-use residential and commercial, nautical and tourism development located on Aguadilla Bay describes the property as one that “can serve as a bridge to increase maritime traffic from the Dominican Republic and capture boaters and yachters headed to or from the Lesser Antilles; it is a gateway to the Spanish Caribbean.”
In May 2015, the property was put on the auction block by Los Angeles-based Premiere Estates Auction Company, as this media outlet reported.
At the time, it has received the required Environmental Impact Statement approving a 500-slip marina for vessels up to 180 feet and up to 500 dry-stack marina, as well as a full-service dry dock and repair yard for vessels up to 75 feet in length; up to 330 hotel rooms and/or shared ownership units with casino, spa and meeting facilities; 737 residential touristic first and second home units; and 99,500 GSF commercial waterfront marina village and beach club, the auction company said.
Some $2 million have been invested in studies related to proposed project including but not limited to archaeological, hydraulic, coastal engineering, among many other, according to the listing by current real estate broker Christiansen Commercial Real Estate.