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Baja's Coastal Development Boom Slows Down

The development boom along Baja California's coast has slowed dramatically during the last few years. Developers say the U-S mortgage crisis and the economic downturn have deflated sales. KPBS Reporte

Baja's Coastal Development Boom Slows Down

The development boom along Baja California's coast has slowed dramatically during the last few years. Developers say the U-S mortgage crisis and the economic downturn have deflated sales. KPBS Reporter Amy Isackson has the story.

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In 2006, more than 100 projects were underway along the coast from Tijuana south to Ensenada.

About 35 are still in progress. The rest have either folded or been put on hold.

Mauricio Kuri is the commercial director for a high end condo project 10 miles south of the border.

He says since 2006, sales have dropped.

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Mauricio Kuri: During the height of things, developers in general were selling an average of 20 units a month. Our average came down to two to four sales a month. That's our average during the year.

Kuri says about 55-hundred units are for sale from Tijuana to Ensenada.

He's pushed back some construction on his project two years due to the slowdown.

Baja's coast has long drawn retirees from the U-S and people looking for a weekend getaway close to home.

Amy Isackson, KPBS news.

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