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Rockingham Asset Management Begins Construction on Liberty Cove, a $50 billion
Destination Resort Located on Sea of Cortez in Sonora, Mexico


 
LOS ANGELES - September 19, 2007 - A milestone was reached this week for the largest single real estate development in all of Mexico, as men and machinery converged to break ground at Liberty Cove. Phase One of the $50 billion development has been in the planning, entitlement and pre-construction stages for the past five years. Efforts by Rockingham Asset Management, master developers of Liberty Cove, culminated in the initial construction of the project’s main thoroughfare, which will transect nearly eight miles of property from the main road to the shores of the Sea of Cortez, where fifteen miles of uninterrupted oceanfront define this unique development. 

“It truly is an exciting day for us,” exclaimed Craig Ricketts, Chairman and CEO of Rockingham. “This is going to be the most significant development south of the U.S. border and beginning construction on our main road opens an important chapter in our development story. Liberty Cove is currently enjoying a lot of ‘firsts,’ but few are as significant as receiving our grading permit and actually breaking ground.” 

Liberty Cove, located north of Puerto Libertad in Sonora, Mexico, is the largest single land development south of the United States and is an easy drive from the major metropolitan centers of Los Angeles, San Diego, Phoenix and Tucson. At 46,500 acres, with fifteen miles of unobstructed coastline and three distinct mountain ranges, it will become Mexico’s largest destination resort community. Developers believe that at build out, Liberty Cove will exceed the success of resort destinations such as Cancun and Cabo San Lucas, in large part due to the extensive master planning efforts that are preceding any vertical development. 
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Rockingham is planning the most environmentally responsible project of its size in the world. Leading technologies are being engaged to realize optimal savings in every area of infrastructure development, including energy production and consumption, waste management, potable and non-potable water and vehicular traffic. Rockingham is planning every aspect of the project to achieve as near a ‘zero-carbon footprint’ as possible. Major aspects of development are progressing with an eye to compliance to LEED and other green-certification protocols. 

Ricketts added, “We are literally leaving no stone unturned in talking to the most creative minds on the globe for the purpose of identifying viable methods and technologies to set this project apart from any other. We clearly have an advantage in our comprehensive master planning approach and in our close working relationship with the Mexican government, which is thoroughly dedicated to correct environmental practices. Working together (Mexico and Liberty Cove), we will become the standard by which other projects are measured.” 

Phase One of Liberty Cove consists of a ranch lot program (to be launched at the end of 2007), a beach club, boutique seaside commercial village, a signature golf course and associated facilities, a saddle club with extended equestrian facilities, including competition grade polo grounds, a boutique hotel, tennis club, condominiums, an on-site medical facility and a safari club designed to take advantage of the varying topography as well as the burgeoning interest in adventure travel and eco-tourism. All facilities are being entirely master planned to American and European standards, by GMA of Newport Beach, CA, master planner. 

The Costera, Mexico’s federally funded coastal highway, is currently under construction and is on schedule to be completed through Liberty Cove by the end of 2008. The project is easily accessible by well-paved and well-maintained roads from Los Angeles, San Diego, Phoenix, Tucson and Hermosillo. 

Subsequent phases of Liberty Cove will include world-class marinas capable of servicing all types of marine craft, including mega-yachts and cruise ships; every type of residential product suitable to resort living and hospitality venues that span the size and function of Las Vegas-type accommodations to European styled boutique hotels. Touted as ‘the Monaco of the Americas,’ Liberty Cove will also sport a multi-lane roadway that snakes through a terraced resort village to the water’s edge, similar to the Le Mans courses of Europe and designed to capture the world-wide interest in auto racing. 

Liberty Cove has retained Davy Jones, internationally known race car driver, to design a number of racing facilities, including a track capable of featuring both open-wheel and NASCAR style racing. Jones’ career wins include Le Mans, Indianapolis and Monte Carlo. 
Rockingham’s close support from all levels of the Mexican government is reflected in the conceptual design of several key plan components. These include the utilization of green technologies throughout the project (such as solar and marine energy solutions) and by virtue of the size and location of the development will be unique to Liberty Cove. Rockingham is in discussions with providers of technologies used to accomplish the following development goals: harness tidal energy from the Sea through marine turbines; effecting the remediation of CO2 emissions, coupled with the re-capture and re-use of energy from a nearby local power plant (with a Mexican partner); and housing the hemisphere’s largest manufacturing facility for the production of electric cars and electric watercraft, both non-polluting essentials to the environmental complexion of Liberty Cove. 

Additional excitement from the Calderon cabinet has encouraged the planning of a world-class athletic training and competition complex, which will provide athletic opportunities in every sport for young people, ranging from soccer to track and field, aquatics, equestrian and extreme sport competition. When completed, this complex alone will make the community a ‘must see and experience’ for international travelers, media and residents of Liberty Cove. 

Liberty Cove is working with the local, regional and federal governments to prepare for the enormous economic and social impacts a project of this scope and size will have on the area. Rockingham formed Amigos en Libertad over three years ago to engage the local community in dialogue concurrent with the development process. A new fire truck was donated to the village of Puerto Libertad by Amigos and plans are currently underway for a community-wide beautification program, in keeping with the progressive new environmental initiatives of President Felipe Calderon. 

ABOUT LIBERTY COVE: 
Just under four hours’ drive from Tucson, AZ, Liberty Cove lies on the western border of the State of Sonora, north of Puerto Libertad, within the ‘free auto zone’ established by the Mexican government. With easy accessibility from the heavily populated southwestern U.S., Liberty Cove will also benefit from a nearby military-grade airstrip, capable of handling craft as large as 737s. The 46,500 acres of remarkable Sonoran desert are accented by three distinct mountain ranges and bordered by fifteen miles of unobstructed coastline on the Sea of Cortez. 

ABOUT ROCKINGHAM: 
Rockingham Asset Management is an international master land development firm with headquarters in Los Angeles and offices in Scottsdale, Hermosillo and Hanoi. Rockingham principals represent over ninety years’ collective acquisition, design, entitlement and development experience through such successful projects as Palisades Highlands (Los Angeles), the Four Seasons Resort and Spa (Scottsdale), and Westover Hills (San Antonio). Aggregated transactional values exceed $1.5 billion USD. 

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Contact:

Rockingham Asset Management
Carol Ackerman, 213-385-0000
carol@rockinghamllc.com 
 www.libertycove.com
 

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Also See: Grupo SBR and Grupo Questro Planning $1.2 billion Resort Project at Sandy Beach on the Sea of Cortez in the State of Sonora / December 2006
Club Med Sells Sonora Bay Resort in Mexico; Pledges More Asset Disposals / Feb 2003
Rockingham Asset Management LLC Planning a Sprawling Paradise of Golf Courses, Resorts and Marina Near Puerto Libertad in Sonora, Mexico / May 2005
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