We’ve had many people ask about what is going on with the Loreto Bay development, so I figured I’d better offer up a report. It looks like the developers (TSD Loreto Partners), have more or less run out of money. They have, and still are, looking for someone to take over the development, but so far they haven’t had any luck. Without the necessary money needed to continue operating the development, though, they have been forced to close up shop. This obviously will have a serious impact on the property owners in the development, but the government has offered a ray of hope for them.

According to a recent article from the San Diego Times, FONATUR might take over the development’s operations until a suitable buyer can be found. FONATUR has been trying to build up Loreto as a new tourism destination, and the thought of losing the areas main resort and golf course is not an attractive proposition. We’ll see how this develops, but in all likelihood the government is going to push for something to be done soon.

Here are some good articles to read for more information:

San Diego Times

Golf Digest

Loreto Bay News