New Latitude Margaritaville On Tap for Mexico as Brand Expands Across the Border

Jimmy-Buffett–inspired 55-plus housing brand Latitude Margaritaville is expanding south of the U.S. border.  

A new Latitude Margaritaville community is now coming together in Lake Chapala, Mexico, about an hour’s drive south of Guadalajara. Guadalajara-based real estate development group Levy Holding is developing the new community, Latitude Margaritaville International Lake Chapala.

As planned, the community will include 194 units, ranging from 430-square-foot studio apartments to one-story homes spanning nearly 1,300 square feet. The first units are slated to open sometime in 2024.

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The Lake Chapala community is slated to include an island-like feel and resort-style amenities. Prices for the homes start at around $233,000 with the opportunity to buy one starting this summer.

“We know that consumers and travelers alike have come to love all things Margaritaville, so we’re excited to offer this different residential opportunity to our clients,” Jim Wiseman, President of Development at Margaritaville, told Senior Housing News. “With a leading developer and spectacular location, we believe there will be incredible demand.”

The market near Guadalajara is home to a number of expats and that will be a target demographic for the first Margaritaville project in Mexico.

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Lake Chapala, located on the border of the states of Jalisco and Michoacan, is Mexico’s largest freshwater lake and, as of 2017, was home to as many as 30,000 expats in its numerous towns and villages.

“Lake Chapala has one of the largest existing concentrations of expats in the world, so we are expecting demand to come mostly from non-Mexican residents moving there,” Wiseman said.,” ..

In previous developments stateside, Latitude Margaritaville partnered with Minto Communities. But Minto is not involved with the project in Mexico.

The announcement comes about one year after Minto Communities – which launched the brand in 2017 in partnership with global brand Margaritaville Holdings – announced the active adult brand’s first foray into the state of Texas.

At the time, breaking into the Texas market represented aggressive westward expansion for Margaritaville after a surge in demand for its Florida- and South Carolina-based communities. 
Latitude Margaritaville this December announced it completed construction on amenities at its Hilton Head community, while projects in Texas are making progress.

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