Here is a letter the RFB Owner's group received from owner, Cherri Briggs about the family's recent trip to Bocas and Red Frog Beach. We have gotten permission to reprint it here:
Dear Robin,Rob, and RF owners,
We are fractional owners of two villas in RF and own a 50’ boat slip.We were just down in Bocas. The progress being made is incredible. You would all do handsprings to see the place being reborn! RF has involved the Smithsonian as an advisor on the project to ensure that the new down-scaled plans are of the highest eco standard.
Construction is up and running, employing only mostly local labor and with greatly improved community relations, and all the houses are starting to look great again as they clean up the project.
The marina is almost finished and is top quality…will be beautiful. So what Mr. Barker is barking about I am uncertain? Yes there has been a lot of negative PR but to continue to pass it along can't be helpful. What we need to pass along are the facts on how the project has changed!
We live in Africa and the delays and gov't. hurdles are no different in Panama than in any underdeveloped country. It seems clear to me, having worked in eco-tourism for 20 years and won many awards in that field, that RF is well on the way to rectifying the mistakes of the past and hopefully will address the assaults of ill informed media or media that is out of date in the near future.
The negative repercussions of emails like this only hurt all of us and make it harder for the RF guys to move forward. So I would like to encourage Mr. Barker to play a more positive role in the RF community and put out some positive info on the ‘new and improved Red Frog’ rather than circulating the old story.
Why RF was targeted from the beginning is unclear, but the malicious PR attacks on Pilar and co have not been answered publicly and that is not a good thing! Negative press like below (below meaning a letter which has not been posted because we do not have permission. - Ed) must be addressed and I understand that Dan Cranney is putting together a bullet point presentation on what RF is doing to conserve environment and adhere to eco guidelines which will be reviewed by the Smithsonian and put on the web. Then all this drivel will stop.
- Cherri Briggs
Wednesday, April 1, 2009
Tuesday, March 17, 2009
Home on Lot 11 For Sale PLUS Goodies!
Good afternoon from Red Frog 11.
We are being asked to quantify our price of $650,000 for Lot 11 with Marina Slip #27 .
PROPERTY: We found no comparable properties on Bastimentos so assembled the equivalent of a 'Comp' list (original attached) from the RFB web site on March 15th, 2009. The $650,000 Lot 11 Package (Titled Lot, House, Slip, Boat, Cart, Off Grid Plant, Furnishings etc.) is shown as a yellow circle. The Lot 11 Tortuga, by itself, is comparable at $439,000 on the blue line. Comparable Red Frog Listings are on the 'Special Re Launch Price' blue line. The assumed actual values, together with a WAG for Lot 11, are shown on the red line.
MARINA: The 'Marina' is presently under construction by 2 dozen workers. It appears to have top priority in terms of resources being consumed. The following graphics (original attached) were downloaded from the RFB web site on March 15th, 2009. They describe the present sales price of Red Frog Marina Slips and what will be delivered for that price. Although Slip Prices start at $104,359 we value Slip #27 (which is shown as a yellow circle) at $60,000.
Question: What are the associated costs of owning and maintaining a slip?
Answer: The Association dues (MOA) will start at approximately $100/month. The ultimate cost of this will largely depend on what Owners vote for.
Question: What is the type of ownership for a Marina slip?
Answer: We are currently working through the concession regulations in Panama to apportion the slips in some type of recorded title. However, if this is ultimately not possible, the developers will then organize an appropriate legal structure (i.e. Yacht Club) whereby each owner will become a member and will include their official rights to the boat slip being reserved in this agreement. The ownership will be for the slip and dock improvement. The water concession will be shared by all owners and Red Frog.
Question: When will the Marina be completed?
Answer: The projections are for Q2 2009.
Question: What amenities will the Marina include?
Answer: Electric services, Internet access, ice/vending machines, storage units, Harbor Master and staff, 24-hour full time security personnel, fueling and pumping facilities, free water use, restroom and shower facilities, maintenance services, fully stocked ship store with boating and sailing essentials, deli, bakery, smoothies and coffee shops.
Monday, March 9, 2009
Red Frog Marina News
In an effort to create a positive cash flow, Red Frog management team has started the marina project.
Here is the main walkout plank at the beginnings of the project. This is looking from Isla Bastimentos out toward the mainland... South.
Here is the main walkout plank at the beginnings of the project. This is looking from Isla Bastimentos out toward the mainland... South.
Also here is another angle from the end of the walkout plank looking back toward the island... North.
Monday, February 16, 2009
News Article on Red Frog Beach
Pillar Panama Pushes Red Frog Beach Development Back into Action(BOCAS DEL TORO, PANAMA) -- After being stymied for nearly two years from a labor strike and consequent financial stress, one of Panama's most ambitious luxury resort-style communities is back to life and moving full speed ahead on completing the first phase of its development.
Wild Cane Island Reverse View
The Red Frog Beach project, located off the northwest coast of Panama in the Bocas del Toro archipelago, overcame its paralyzing 20-month strike last October when Pillar Panama chairman/president Joe Haley announced a settlement between Pillar Construction and the local workforce. Meanwhile, caught between the strike and a tightening global economy, Haley was forced to restructure his original partnership to save the project.The end result was a better capitalized group of investors and an invigorated Pillar Panama team as committed as ever in completing the development that calls for a 100-slip marina and marina village, luxury residence club and boutique hotel and spa.
Red Frog aerial view
According to Haley, 80 percent of the development is now controlled by many of the original clients who invested in the idyllic Red Frog Beach property located on Isla Bastimentos."Now we have a new beginning and we're stronger and healthier," adds Haley, who hails from Minnesota. "The last couple years were a huge learning experience for our partnership. What really resonates, though, is the power of many. We had over 400 clients and vendors come together and say, 'We won't let this project die.'"After revising 450-plus contracts, and making a lot of concessions and sacrifices, it's a new beginning for Red Frog Beach. Not only are we going to continue to develop in a responsible and sustainable manner, but we're galvanized by this huge new collective effort."
Phase I Construction - Red Frog Beach
For many of the early investors, this newfound energy is a welcome sight so their compelling eco-conscious lifestyle can finally come to fruition."Red Frog Beach is everything I envisioned as being paradise," says Chris Hahn, one of the early real estate investors-turned partners. "It's a really special, beautiful place on these islands. ... Panama's like Costa Rica 10-12 years, or Hawaii in the '50s."Red Frog Beach is a pristine stretch of property contiguous to a natural marine park with three miles of shoreline. Thus, Pillar Panama will leave approximately 70 percent of the 1,524-acre environmentally sensitive property untouched.Overall residential density is approved for an estimated 900 villas, condos and a luxury residence club being managed by industry leader Jim Whitteron of Spring Creek Partners. Ten of the villas are completed, priced on average at $575,000, with another 42 in construction. The fractional ownership properties are being sold in 1/10 shares.Most of Red Frog's infrastructure is completed and Haley projects the marina will be finished by early summer.
- Dan Cranney
Wild Cane Island Reverse View
The Red Frog Beach project, located off the northwest coast of Panama in the Bocas del Toro archipelago, overcame its paralyzing 20-month strike last October when Pillar Panama chairman/president Joe Haley announced a settlement between Pillar Construction and the local workforce. Meanwhile, caught between the strike and a tightening global economy, Haley was forced to restructure his original partnership to save the project.The end result was a better capitalized group of investors and an invigorated Pillar Panama team as committed as ever in completing the development that calls for a 100-slip marina and marina village, luxury residence club and boutique hotel and spa.
Red Frog aerial view
According to Haley, 80 percent of the development is now controlled by many of the original clients who invested in the idyllic Red Frog Beach property located on Isla Bastimentos."Now we have a new beginning and we're stronger and healthier," adds Haley, who hails from Minnesota. "The last couple years were a huge learning experience for our partnership. What really resonates, though, is the power of many. We had over 400 clients and vendors come together and say, 'We won't let this project die.'"After revising 450-plus contracts, and making a lot of concessions and sacrifices, it's a new beginning for Red Frog Beach. Not only are we going to continue to develop in a responsible and sustainable manner, but we're galvanized by this huge new collective effort."
Phase I Construction - Red Frog Beach
For many of the early investors, this newfound energy is a welcome sight so their compelling eco-conscious lifestyle can finally come to fruition."Red Frog Beach is everything I envisioned as being paradise," says Chris Hahn, one of the early real estate investors-turned partners. "It's a really special, beautiful place on these islands. ... Panama's like Costa Rica 10-12 years, or Hawaii in the '50s."Red Frog Beach is a pristine stretch of property contiguous to a natural marine park with three miles of shoreline. Thus, Pillar Panama will leave approximately 70 percent of the 1,524-acre environmentally sensitive property untouched.Overall residential density is approved for an estimated 900 villas, condos and a luxury residence club being managed by industry leader Jim Whitteron of Spring Creek Partners. Ten of the villas are completed, priced on average at $575,000, with another 42 in construction. The fractional ownership properties are being sold in 1/10 shares.Most of Red Frog's infrastructure is completed and Haley projects the marina will be finished by early summer.
- Dan Cranney
They're Back!
Red Frog is slowing moving forward. The last conference call reinforced the feeling that the project is moving forward with investor money from current owners. Right now the marina village is being built as well as a scaled down version of the amenities.
The first resident who move in several years ago just turned 70 and has decided that, although he feels the project will reach completion, it will not be soon enough for he and his family to enjoy it. Too bad. It's a nice lot, #11 with great views, a great Tortuga model, and includes his cart, boat and slip along with the Panama corporation(s) used to hold these in. Contact Ron at jubillado@gmail.com for more information. His asking price is $745,000. If we had the money we would consider the opportunity!
I am also told that there are limited opportunities to buy into the first phase at prices well below what they will be once the project really gears back up. Contact Dan Cranney at dcranney@redfrogbeach.com and tell him Mick and Janis sent you.
- Mick @ Lot 11
The first resident who move in several years ago just turned 70 and has decided that, although he feels the project will reach completion, it will not be soon enough for he and his family to enjoy it. Too bad. It's a nice lot, #11 with great views, a great Tortuga model, and includes his cart, boat and slip along with the Panama corporation(s) used to hold these in. Contact Ron at jubillado@gmail.com for more information. His asking price is $745,000. If we had the money we would consider the opportunity!
I am also told that there are limited opportunities to buy into the first phase at prices well below what they will be once the project really gears back up. Contact Dan Cranney at dcranney@redfrogbeach.com and tell him Mick and Janis sent you.
- Mick @ Lot 11
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