It's been more than three months since any word has been heard from the new Loreto Bay caretakers, Alvarez & Marsal, a highly regarded leading, independent global professional services firm (a description straight from their very own Web site). This silence comes after a purportedly heartfelt pledge from them for more open and frequent communication about the development's state of affairs after they took over daily operations from Re:Play in January. But once again, that assurance - like those from Re:Play - has fallen flat on its face. We have heard nothing since the middle of February.
So what is going on in Loreto Bay? Other than the piecemeal and incomplete news we hear from other home owners about construction progress, we just don't know. (As a side note: We are very grateful for any news we hear from our fellow home owners. This is in no way intended to denigrate their contribution, but, truth be told, it isn't from an official source.)
Is this a viable project? Are there serious and interested buyers? Is there a light at the end of this particular tunnel?
We were assured back in January that news of a buyer was imminent. Hasn't happened. We were assured back in January that we - as in those of us who have invested in this development - would be apprised of information on a timely basis. Hasn't happened.
Is it better to sit and wait with hand over mouth for information? Should we, too, stay 'mum' about the situation in Loreto Bay, to perhaps, maybe, possibly, safeguard our investment? Is that wise?
It hasn't worked to date. We're still at the mercy of the 'powers that be,' those anonymous, faceless folks who are in control. At this point in time, we have to wonder who exactly is Loreto Bay Company? What is the status of the project? Once again, is it even a viable project?
George and I certainly hope so as we've staked our future on the place. In fact, we absolutely yearn to be there. We're hoping to move to Loreto Bay and live out our lives there. With a planned investment of that magnitude, it would be nice to know just what the hell is going on.
Happily, though, we have seen some progress on our Encantada. Not as much as Loreto Bay claims, but close. And believe me, for that we are truly grateful. But more substantive news would be welcome... Very welcome.