Salzburg Development S.A. Announces New Green Leaning Real Estate Projects in Panama's Casco Viejo and Pedasi

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A Panama based development company founded by former Red Bull Energy Drink executives paves the way for incorporating green practices into historical renovations in Panama's Casco Viejo, a UNESCO World Heritage Site, and residential tourism projects in the Pedasi area of the Azuero Peninsula, Panama's up and coming tourism region.

The stars appear to be aligning in towns like Pedasi

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Five new uniquely sustainable Panama real estate projects mark the latest offerings from Salzburg Development S.A. Focusing on historic building restoration in the Casco Viejo area of Panama City, Panama and land development in the Pedasi area of the Azuero Peninsula, Salzburg Development, S.A. has committed to green practices in the construction of its homes and buildings by utilizing recovered tropical hardwoods for flooring and beams, installing solar powered lighting in common areas, and reforesting the dry tropical forests once prevalent in the Azuero Peninsula region of Panama.

Founded by Uschi Zimmermann of Salzburg, Austria and Joel Jelderks of Seattle, Washington, Salzburg Development S.A. recently announced that it is developing four properties in the Casco Viejo: Casa Malecon, Casa Colonial, Casa del Baile, and Casa Ruigar. On the Azuero Peninsula near the town of Pedasi and the world famous surfing beach, Playa Venado, Salzburg is offering Rio Oria Estates and, very soon, Playo Venado Heights. All of these new residential properties make ideal vacation and residential home sites.

Zimmerman and Jelderks are two former international executives for Red Bull Energy Drink. Deeply influenced by Salzburg, Austria's beautifully restored old city, and the colonial cities of the Americas, the two saw an opportunity to assist in the renovation and restoration of Casco Viejo, ultimately choosing this neighborhood as their home. Both are also drawn to the dramatic natural beauty, surfing, fishing, and eco-tourism potential found in the Azuero Peninsula.

Casco Viejo
Founded in 1673 after the pirate Henry Morgan sacked the original Pacific settlement, Casco Viejo or Casco Antiguo, is the old quarter of Panama City. For nearly 300 years it was the cultural center of Panamanian life until the 1930s when the upper middle class migrated to the suburbs.

A UNESCO protected World Heritage site since 1998, Panama's historic district is currently enjoying an intense revitalization process, street-by-street, plaza-by-plaza. UNESCO identified the strong connection between the quarter's varied collection of architectural styles and Panama's historical role as a world cross roads, with each style representing a boom in inter-oceanic trade through the canal. During its 300 years as the heart of Panamanian life, the quarter developed a unique legacy of Spanish, French and American colonial, neoclassical and art nouveau architecture. Certain styles, particularly the narrow 16th through 18th century houses with internal courtyards, are specific to the region. Today, it is home to some of the best sidewalk cafes and restaurants of Panama City. Each year with increasing success, a new sector of the historic neighborhood is carefully renewed.

Salzburg Development S.A. has four historical residential and commercial projects underway in the Casco Viejo - Casa Malecon. Casa Ruigar, and Casa del Baile.

Casa Malecon has a sweeping view of the modern skyline of downtown Panama City and the Panama Bay. Located at the entrance of the Casco Viejo in the Terraplén neighborhood (one of the new areas on the verge of renewal), Casa Malecon with its unobstructed water and city views is positioned to be one of the premier addresses in the Casco Viejo.

Casa Malecon will feature solar powered common areas and will utilize local recovered tropical hardwood flooring throughout the project.

Casa Colonial is one of the few remaining examples of true Spanish Colonial architecture in the Casco Viejo. Originally built in 1780, the building's arched doorways, thick walls, and interior courtyard are more reminiscent of Spanish Colonial architecture still found in historic cities in Spain, Columbia, Mexico, and Nicaragua.

Casa Colonial will be renovated into a small boutique hotel and restaurant utilizing the old masonry and wood craftsmanship techniques, that gave the building its original charm. Local recovered tropical hardwood will be used in the flooring and structural beams of the project.

The Azuero Peninsula: Rio Oria Estates & Playa Venado Heights
Azuero is home to Playa Venado, one of Panama's best surfing beaches, and the charming village of Pedasi, known also for incredible fishing of top Pacific game fish. Often compared to California's Central Coast before the Gold Rush and to the Guanacaste Region of Costa Rica before all the tourists arrived, Azuero is a true gem. Just 35 minutes from Panama City via Air Panama, Azuero is located strategically off the Pan American Highway on the road to Chiriqui. The climate in Azuero is drier than the rest of Panama and offers exotic wildlife, stunning coastlines, and a rich local culture.

Investment experts such as Matt Landau of have deemed the Azuero Peninsula the ideal investment opportunity. "The stars appear to be aligning in towns like Pedasi" Landau claims, "where a stunning coastline, tremendous infrastructure and ease of access are simply waiting to be discovered by the masses. These are the kinds of places that have landed Costa Rica on the map as a world-class travel destination, and in terms of investment, the prices are comparatively dirt cheap."

Rio Oria Estates is a beautiful 23 Hectare (56.8 acre) parcel with breathtaking Pacific Ocean and Rio Oria Valley views. The land consists of rolling grass hills, native forest, and a seasonal creek.

Reforestation of the newly developed land at the Rio Oria Estates began at the start of years rainy season with the planting of 150 native dry tropical forest species, mostly hardwoods, in collaboration with Pacific Forestry, S.A.

Home construction begin in October, 2008 incorporating rustic local Spanish Colonial designs once common to the Pedasi area of the Azuero Peninsula. The homes will also utilize recovered tropical hardwoods in the construction.

Playa Venado Heights has amazing beach, ocean, and terrain views and is just steps from Playa Venado. In addition to the views, native hardwood and fruit trees, resident troops of howler and spider monkeys, deer, and a year around spring fed creek make this site special. This project is in its early planning stages.

Background: Founders
Born and raised in Salzburg Austria, Uschi Zimmerman earned her Masters Degree in International Economics at the University of Innsbruck, Austria. Her career with Red Bull started 10 years ago and concluded as Senior Brand Manager Latin America, based in Panama City, Panama.

Pacific Northwest native Joel Jelderks was born Portland, Oregon. He earned his Bachelor's Degree in Cultural Anthropology, Oregon State University, Corvallis, Oregon. He worked for Red Bull for past 10 years. and concluded his career with Red Bull as General Manager Caribbean and Central America, based in Panama City, Panama.

Their work allowed them to travel extensively throughout Latin America and to visit the old cities of the region which have been expertly restored while preserving their original framework: Old San Juan in Puerto Rico, Cartegena in Columbia, Antigua in Guatemala, and Granda in Nicaragua. They immediately saw the potential of the Casco Viejo of Panama.

Joel Jelderks
Salzburg Development, S.A.


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