Future city

April 12, 2009

Critica

At the former Howard Air Force base just 30 minutes from the capital, London & Regional Panama (LRP) is building Panama Pacifico. The $705 million project calls for the construction of commercial, residential, industrial, tourism, and recreational areas located in a natural setting in the Panama tropics.

Over the next 40 years 20,000 homes and apartments will be built here, according to Miguel Angel Clare, the Administrator of Panama Pacifico's Special Economic Zone (Área Especial Económica Panamá Pacífico, or AEEPP). Of the total investment amount, about $405 million will be spent on the first phase of the project, which should be complete in eight years. During this phase, construction will focus on key areas, including two office buildings, a logistic park for air, land and sea cargo, and a new Town Center.

Residences Kobbe Hills is a low-density residential project that will include a high-end hotel and golf course surrounded by tropical forest. The Town Center, located at the heart of Panama Pacifico, will also feature residences, as well as a plaza, large central park, and an Olympic-size pool. Here, potential residents will be able to choose from apartments and town homes surrounded by parks.

A network of pedestrian trails and walkways, perfect for walking, jogging or bicycling, will connect every area of Panama Pacifico, which will boast beautiful landscaping and ample lighting, says LRP Marketing Director JuliAnne Murphy.

Future phases will expand Panama Pacifico, creating a complimentary business center called Forest Park and, on the north end, a residential project called Puente Verde. These phases will be further defined as work progresses.

The Panama Pacifico Special Economic Zone is home to well-known firms such as Dell, 3M, Caterpillar, Singapore Technologies Aerospace Ltd, and Canadian firm Cabo Drilling Corp.

Details

In 2009 Panama Pacifico will invest:

$26 million in infrastructure, including:

  • Access road to PanAmerica Corporate Center (logistic park)
  • West Perimeter Road
  • Improvements to Bruja Boulevard
  • Extensive road improvements
  • Underground power lines
  • New aqueducts and drainage system
  • Telecommunications improvements

$16 million in the Town Center, including:

  • First mixed-use building, with retail on ground level and apartments on upper levels
  • Rainwater filtration system
  • Green areas and forest trails
  • 120 single-family homes
  • A network of pathways and bicycle lanes
  • Refurbishment of Olympic-size pool and theater

$40 million in the International Business Park, including:

  • Two Flex buildings for a total of 20,000 square meters of flex space
  • Two Office buildings

$20 million in the PanAmerica Corporate Center, including:

  • State-of-the-art warehouse and corporate architecture
  • Ample truck maneuvering areas
  • Power, telecommunications, and other utilities