By: Hector Garcia
Real Estate Professional
Is this project going down like many others around the Puerto Vallarta and Nuevo Vallarta area? There are many examples of great-looking projects that end up in dust; Harbor 171 is the latest that comes to mind. Endorsed by many respected people that worked endlessly to prevent the inevitable. Sure enough one day it happened: Government shutdown for one reason or another. Is Elite Bellarena going that same path?
Elite Bellarena has made things interesting, to say the least. Recently there were as many as 10 huge billboards put up on highway 200 claiming Elite Bellarena a fraud. Let me be clear, I am a Coldwell Banker real estate agent working in this project. While I do not know all that goes on regarding Elite Bellarena. I know enough to be sure that all is good and that the negative chatter people say about Elite Bellarena is just that…Negative chatter. Anybody can put up a big billboard. That is what happened with Elite Bellarena: A private citizen paid to put up negative material about Elite Bellarena. All due respect to all parties involved, Coldwell Banker is a well-known and respected global Real Estate company. We took this claim seriously. As soon as this accusation of fraud was made public Nancy Valiente, the sales director at the site, took all steps necessary to ensure we were within the law. She went as far as to remove the listing from Flexmls, the main platform used by most agents in the area. Brock Squire, Coldwell Banker La Costa´s Broker and NMS Capital were on top of the issue. In only a matter of days the issue was all cleared up and all huge billboards known as “espectaculares” were removed.
Every development has to clear its path for success. No doubt Harbor 171 will clear its path to a finished project that will help the industry in Puerto Vallarta. Elite Bellarena will do the same in Nuevo Vallarta. My experience in working with Oasis Bay RE to sell a much-unwanted project called Bay View Pitillal in El Pitillal, tells me that Elite Bellarena is heading in the right direction. Bay View Pitillal was much worse because it did not have all supporting documents completed initially. It had an unknown developer working his first semi-big project. I knew that it would get finished and meet all expectations by visiting the site almost daily with prospects that would soon walk away for something much better and more expensive. As an agent, you just know when a project will get completed or not.
What is happening at this Elite Bellarena site? Why is this project moving at such a slow pace?
Let us get to the bottom of this; NMS Capital has only itself to blame for its shortcomings thus far. Also known as Nemesis Capital, the developer, has done a poor job in funneling its resources. Gustavo Tomé is head of Elite Bellarena and Felipe Tomé is his brother. One simple google search tells me that Gustavo Tome is a good businessman and well respected in the business community. Another simple google search tells me that Felipe Tomé, the brother, has the bad history. People confuse the two brothers. People say it is one and the same Tomé. Understandably, nobody wants to place their money in the hands of such a troubling dynamic. I have sold and lost that same sale for these reasons.
The current state of Elite Bellarena
Elite Bellarena is on another level, with all due respect, we are not Bay View Pitillal and we are not shut down by the government like Harbor 171. However, Elite Bellarena is not acting like the big brand it wants to be. My gut feeling remains optimistic: Elite Bellarena will deliver! My sources indicate that NMS Capital will be financed by a bank starting in February 2020. It looks like only after the backing of a bank will Elite Bellarena be Elite.