SANTO DOMINGO.- The title sounds rehashed as all developers want to jump on the “green” bandwagon, not only to meet the often strict local requirements but to also use it as a selling point for the ever increasing number of environmentally aware investors.

Meet Eduardo Morrison B., a Venezuelan who speaks fluent English, and the president of the soon to open La Estancia project built around a par 72, 18 hole golf course, but “isn’t too ambitious,” and differs from the others by what he says is quality, not size.

“We don’t think we are that ambitious because we only have 4 million meters the competition is much bigger than us. As our main development attractions we want a change, we want to host the whole family, we are building a pool at each house, nature trails, a gym and a childcare center to provide the family a totally different experience, whether with golf or beach clubs and the Chavon river, we even have a grade school in our plan,” the developer said in the interview thrusday night during the inaugural of the CTN Travel and Vacation Fair in the Jaragua hotel, where La Estancia has an exhibit.

As La Estancia’s market Morrison eyes nearby La Romana and its airport, the tourism rich La Altagracia province and the increased traffic from Santo Domingo along the Coral highway being built, and would include a direct exit to the facilities at the village El Limon. “Most of projects are based on just golf but for the golfer La Estancia is designed as a private course with other areas because many Dominican families and from other countries state their concern that they don’t have anything to do and just having a pool isn’t enough while everyone else is out golfing.”

But the gap between what has been spent so far and the planned global investment when it concludes does make La Estancia an ambitious golf-residential project. “We bought the first lands to develop the residences and have spent 6 million dollars just on the Par 3 Project. We foresee a 20 million dollar investment when we conclude stage 1 and 2 and develop the entire project with 50 million dollars more from our partners.”

Despite the modest area of 4 million square meters Morrison affirms that expansion is not in their immediate plans, and cited a nearby giant and its humble beginnings. "We aim to develop and consolidate what we have. I have seen pictures from Casa de Campo in 1970 and there was nothing there, La Estancia has much more now than they had back then so we need time. I know there’s a market there so we came to stay, we brought our families and our success will be the success of the entire region. We feel very comfortable here and have become part of your society.”

The also executive of the transnational real estate group GPI, with headquarters in Caracas, notes a solid developer background. “We build office and apartment buildings with more than 500 units in Caracas, some investment in other areas of the economy and in the United States, Paraguay and Colombia.”

Morrison however speaks like a man whose focus is on the now by not dwelling on potential short term profits. “We don’t foresee any profit. It’s a 10 year project and we invested to see earnings after four years. I’ve seen the experience of other projects where the most successful are those which plan long term. We know that we are here for the long run, we took our time plan for the initial investment and will take our time in doing so for the long term.”

As to links to the Venezuela mogul Gustavo Cisneros, whose really ambitious (US$2.0 billion) Tropicalia development has begun in nearby Miches, Morrison affirms that he knows him and has welcomed his advice, and of course his countryman also has a stake in La Estancia. “We are not linked to his project but we know each other, he has an investment in the project and we have gotten advice from him but there’s no business relation.”

Environment minded, energy efficient

DT: In view of the “green wave” sweeping these types of projects how are you different in proving you are environmentally minded?

EM: We are getting advice to qualify and may become the first green project in DR, certified by the U.S. Green Project Institute. We are doing everything to be the first green project in Dominican Republic and we are taking measures to replant with local varieties and save the waters in our lagoons.

DT: What other specific features are you including in La Estancia to get that certification?

EM: We have a long way to go, in two years we will qualify to be an ecological certification we are working on that and we meet the requirement and have the solution to do so. We installed LED lighting but the way it is today the only way we can increase energy efficiency is with solar panels, but their expense forces us to buy energy locally, but we also recycle trash.

Backround

Eduardo Morrison B. is the president of the project La Estancia, which surged in the wake of the purchase of land to develop the “Par 3 Golf Residences.”

Last March the partners of the realtor group GPI became the majority stakeholders of the complex.

Attractions

“From verandas beneath bougainvillea-draped trellises, residents of the new La Estancia residential resort community will look out upon the P.B. Dye designed golf course,” says their Website, and continues: “Surrounded by the abundant verdure, moving natural beauty and breathtaking vistas of the hills, looking into the Chavon River, La Estancia offers the ultimate in Caribbean luxury with a breath of traditional Spanish design. Surrounded by the abundant verdure, moving natural beauty and breathtaking vistas of the hills, looking into the Chavon River, La Estancia offers the ultimate in Caribbean luxury with a breath of traditional Spanish design.

“La Estancia's inspired styling brings the relaxed atmosphere, lush feel and easy elegance of a Mediterranean hill town to the Dominican Republic. Taking its cue from a large existing traditional hacienda on the property, La Estancia's red-tiled roofs, white stucco and plaster walls, wrought iron fences and elaborate detailing recall the local Spanish tradition and architectural heritage A spectacular 1,300 mt2 clubhouse, complete with restaurant, pro-shop and changing facilities, features a full array of luxurious community amenities, such as pools, and a  tennis academy, fashioned to a high-end lifestyle,” the La Estancia sales literature says.