Costa Rica Real Estate – High density

Experts show the advantages of this type of development.

More than the 50% of Costa Rican population lives in the Great Metropolitan Area (GMA), were everyday it is more evident that thtrre is a need to develop real-estate projects in geographic spaces more and more reduced and less stalked by an immense vehicle mass.

Some cities in the world like New York, United States and San Juan, Puerto Rico, have focused their urban development programs on high residential and commercial buildings in response to the high percentage of population that they hold: Approximately 500 inhabitants per hectare. (One hectare = 10,000M2 which is 107,600 square feet).

In Latin-American, countries like Argentina, Chile and Panama have experienced a vertical growth where it’s common to find buildings of up to 30 floors high that combine commercial and residential activity, allowing people to live near their work.

1. But, what’s wrong in Costa Rica?
2. Are high density projects viable here?
3. What advantages and disadvantages would this tendency of development have in a short or medium term?

These and other questions were answered in the forum: Desarollo Inmobiliario de Alta Densidad (High Density Real-Estate Development) at Corobici Hotel in San Jose the 16th of November.

The seminar was held by the Real Estate Devolopment Council (CODI), the Architect and Engineer Federated School (CIFA) and the Costa Rican Chamber of Construction (CCC), with the intention of incorporating criterion and experience of real-estate development that have proven to be successful in other parts of the world, as well as to foment the discussion between key actors in the formation of policies of urban development.

For the seminar they had the presence of Dr. Michael Buckley, director of the Real-Estate Development Program of the University of Columbia, USA, and president of Halyon Real Estate Consultants.

His work has earned international reputation in subjects like they development of mixed uses commercial projects, conceptualization of real-estate developments and strategic planning for big projects and sub used properties.

Density: “Cosmological Imperative” is how Buckley describes this development tendency that is going on in our country. Costa Rica has all the potential and talent to develop high density mixed projects which would attract more investment and allow the regeneration of cities like San Jose.

He added that development of strategic initiatives with financial feasibility that favor tourism activity, security, optimal use of the land and the combination of biotechnology are very important.

This urban consultant’s work, who at the moment is a member of the American Committee of Investigation of Real Estate, supports the advantages of high density development in fiscal matters, in the creation of capital gain and effectiveness in work places.

During his visit, he indicated that there is a return to a compact and powerful city that captures the attention of younger generations; he also remembered the importance of public spaces.

“High Density generates spaces that at the same time provide more public spaces (green areas, parks, bicycle roads, etc) in order to give better quality of life to the citizens,” the expert indicated.

Finally, he stressed the importance of suitably distributing the heights in the city and pay attention to the speculation that can down throw any project of this type.

San Jose: Another subject covered during the seminary was “San Jose Possible” presented by the Architect Mario Trejos.

The debate on the convenience of giving back the capital’s lead roll as a competitive, functional and sustainable large city is still important to those who push this initiative.

The most successful policies in city-planning matters are directed to intensify the urban form to stop the proliferation of suburbs and help revitalize the city.

Trejos, indicated that at a world-wide level compact cities have demonstrated to be the most successful and that locally in the four districts that conform the central county of San Jose have began a metamorphism to revitalize and return to inhabit the city.

According to the architect “the land properties are much atomized and it can’t be re-population without security”.

For Oscra Soley, engineer and president of CODI, the concept of residences in the present sights to the horizons; whereas high density residences look toward the stars due to spacing reasons of economic and financial matters.

Olman Vargas, President of the CIFA, indicated that for the development of these projects, they require a suitable planning process. In that sense, the project ‘San Jose Possible’ gives a clear view of what to follow with a specific approach.

However, he added that a significant improvement in security in a relatively short period is essential, stopping the deterioration of the city and rearranging public transportation.

“It is necessary to determine the potential and the players very well, as well as establishing operative channel that allow high density initiatives to improve the quality of life in cities over the medium term” concluded Vargas.

Our thanks to Gloriana Gómez and our friends at La Nación – Costa Rica’s largest Spanish circulation newspaper for their permission use this article.

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Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.