Hotel Tourism Land on Bv. Kukulkan

LOCATION:

Lot 4, Block 60, Boulevard Kukulkan, 3rd Stage of the Hotel Zone of Cancún, Quintana Roo.

TOTAL AREA: 15,058.49 m²

LAND USE: TH (Tourist-Hotel) Classification TH/20/N Ground Coverage Ratio: 45% Floor Area Ratio: 3.0 Maximum Height: 20 floors — Net Density: 200 rooms/ha.

The property originally held an approved project and building permit for a 400-room hotel distributed across three towers of 14 floors each.

This project could be reinstated, as the room density — which exceeds the current PDU allowances — was granted through an Environmental Impact Assessment (MIA) approved in 2005 that remains in force.

The current owners subsequently developed a residential condo-hotel concept comprising 188 units spread across two twin towers of 17 floors, positioned just 20 meters from the water's edge.

Every unit was designed with a facade running parallel to the shoreline, offering unobstructed, sweeping views of the Caribbean Sea.

In 2008, a building permit was issued for this project, which was renewed through 2016 — the year the PDU 2016 came into effect, increasing the property's Floor Area Ratio (F.A.R.) from 2.5 to 3.0. This upgrade would allow for additional buildable area by extending both towers to their full 20-floor height.

CURRENT STATUS

The current standing of permits and authorizations is as follows:

• Building Permit. The condo-hotel permit has not been renewed, as the increased F.A.R. opens the door to redesigning the project to fully capitalize on the additional buildable area by adding height to the towers.…