Fully furnished homes will be priced from $200,000 to $749,000, according to Pablo Gordienko, son of Punta Leona founder Eugenio Gordienko. The sales effort on the first 34-unit phase of the project starts in March. "Punta Leona's history dates back nearly 30 years when our family discovered it during a fishing trip," Pablo Gordienko says. "Over time, we created a resort and beach club that incorporated the best that Costa Rica has to offer."

He adds, "While many new developments attempt to manufacture, or in some cases, shut out the essence of Costa Rica, Punta Leona's history and Costa Rican ownership lend an authentic, cultural experience." The resort will be shielded by the Nicoya Gulf's turquoise water and will overlook Bandera Azul, one of Punta Leona's two internationally known white sand beaches. The other is Playa Blanca.

The property will be managed by the existing Hotel Punta Leona which is averaging near 100% occupancy throughout most of the year, according to Gordienko.