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LOS CABOS, MEXICO-More than 500 years after a mythical gold city was thought to exist at an ancient area called Quivira, a local developer is bringing a $1.5 billion development to the local shores with more than 1,000 homes, a hotel, two golf courses and other beachfront amenities. Ernesto Coppel is starting sales and breaking ground this summer on the 1,850-acre property, with plans to finish at least the planned Ritz-Carlton hotel by 2011, and the homes by 2023.

Jose Mogollon, project director, tells GlobeSt.com that more than 1,000 residences will be built, that will include 700 single-family homes and 300 condos. The Ritz-Carlton Los Cabos, Quivira, will have 200 hotel suites and 200 residences on three miles of beach. The Quivira plans include Jack Nicklaus-branded golf courses, the Pueblo Bonito Pacifica Holistic Retreat and Spa, clubhouses and more. The property is a gated community. “This is a destination, for people to come and enjoy themselves, to smell the air and enjoy the nice life,” Mogollon says.

The property will be developed in phases. Initial offerings will include 44 ocean-view homes on one-third-acre lots, as well as 78 one-story beachfront homes on half-acre lots.

This hotel will be the Ritz-Carlton’s third location in Mexico, said Simon Cooper, president and CEO in a statement. Each room will have ocean views and spacious balconies, he said.

The site was one of seven “lost cities of gold,” according to Spanish legend. Seven bishops allegedly fled southern Spain in the 1500s and founded seven cities made from gold and precious stones…though no such structure has been discovered.

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