December 17, 2006
LOLL in one of the pools at Pelican Eyes, a new development above the town of San Juan del Sur, on Nicaragua’s Pacific Coast: a tranquil breeze blows up the hillside from the perfect bay below, the pool’s disappearing edge merges with sea and sky, and the only sound is the rhythmic tapping of the bricklayers who are building the place — a compound of whitewashed, tile-roofed houses amid lush greenery and looking out to perfect sunset views. At the bottom is an airy palm-thatched restaurant, where cheerful waiters serve strong drinks and the patrons sit in the warm night air and talk about real estate.
This is Nicaragua as the Next Costa Rica, the sort of hopeful real estate appellation signaling that gentrification may now begin in earnest. In the last few years, as Americans on the prowl for second homes, or just an investment, have found places like the Last Costa Rica already overrun by their own kind, a boom has started in the country just to its north.
