Puerto Vallarta Real Estate Panorama: Colonia 5 de Diciembre
Puerto Vallarta is undergoing a significant transformation in its real estate landscape, driven by the boom in various areas throughout the city. This dynamism has been propelled by visionary developers who dared to take the first step, fostering sustained growth based on their innovative perspectives.
This special article, presented by the Vallarta Real Estate Guide editorial team, is the first in a series that will explore in detail the characteristics and advantages of these emerging areas, where the experiences and viewpoints of real estate developers who, with their keen perception, identified and completed projects in these zones will be included.
In this editorial piece, we spoke with developer Ariel Grunwald, who shares the distinctive features he found in the 5 de Diciembre neighborhood, where he constructed The Colonial, an elegant boutique building that was completed in September 2021. His story and vision provide a deep perspective on how previously underestimated areas can transform into prosperous and desirable destinations, reflecting the vibrant future of Puerto Vallarta’s real estate market.
URBAN CONTEXT OF THE COLONIA 5 DE DICIEMBRE
The 5 de Diciembre neighborhood is excellently positioned within the city. To the north, it borders the Olímpica and Versalles neighborhoods, while to the south, it is adjacent to El Centro and the Romantic Zone, both well-known for their diverse entertainment options.
Ariel Grunwald highlights that 5 de Diciembre offers unique advantages that position it as an excellent alternative: “This neighborhood not only offers ocean views, but you can also feel the sea breeze, and its location is perfect for easy access to the beach. Additionally, its proximity to Puerto Vallarta’s main tourist attractions makes it a very attractive option for residents, investors, and developers.”
THE MOTIVATION TO DEVELOP IN THE COLONIA 5 DE DICIEMBRE
When asked about the reasons that convinced him to develop in the 5 de Diciembre neighborhood, Grunwald explained: “At the time, I had access to a study conducted by the Dirección de Desarrollo Urbano y Medio Ambiente de Puerto Vallarta. It included a projection on which area is the most sustainable and viable in the city for continued real estate growth, and it concluded that 5 de Diciembre is the ideal place due to its access, connected roads, and infrastructure.” Furthermore, with Grunwald’s experience developing previously in Puerto Vallarta’s Romantic Zone, he noticed that foreigners highly value the simplicity and authenticity of everyday life, where they can enjoy informal walks and shop at local businesses. “This is a characteristic that this neighborhood enjoys,” he adds.
THE COLONIAL: FROM THE PAST TO A PROMISING FUTURE
With all these factors on the table, Grunwald only had to find the ideal site to realize his next project. “The discovery of the old Cine Colonial, an unused building and a focal point of social problems, gave me a unique opportunity. The idea was to find something that wasn’t functioning and turn it into something that contributes to the community.” This is how this cinema, with its rich history in the local community, became the foundation for his project.
The Colonial is the tangible result of Grunwald’s vision. “The cinema had a privileged location. This project began with the demolition of the building in May 2019 and delivered its first apartment in September 2021. It consists of 30 units, of which 27 are residential and three are commercial spaces. Additionally, it features a recreational rooftop with a BBQ area, pool, jacuzzi, gym, and more.”
MARKETING STRATEGIES
Essentially, Grunwald’s marketing strategy focused on offering a high-quality product at a fair price: “I liked to highlight that it is a family-friendly, walkable neighborhood with a great location; qualities that resonated with those seeking a more connected and genuine living experience. Additionally, I would tell prospects that they would get a product very similar to those in the Romantic Zone but at an appropriate cost.” This approach attracted buyers looking for value and authenticity, many of whom have seen their property value double over the years.
Ariel Grunwald, developer of The Colonial.
COLONIA 5 DE DICIEMBRE: PAST, PRESENT, AND FUTURE
Since Grunwald began construction of this building in 2019, he has seen how the evolution of the 5 de Diciembre neighborhood has taken place. “When I started the project, people told me that the area might not meet expectations and that no one would buy there. When I finished, there were at least five more projects being built within an eight-block radius,” he mentions.
Grunwald adds: “This growth reflects the potential I always perceived in the area: a place with underestimated intrinsic value but with cultural richness and an enviable location that has placed it as one of the most notable emerging markets in Puerto Vallarta.”
In his final thoughts, Grunwald highlights the magic of the 5 de Diciembre neighborhood: “It has a lot of charm with the market, the sports park, the beach, and the corner store. It’s a very cool area,” he concludes.
With its local charm and proximity to some of Puerto Vallarta’s main attractions, the 5 de Diciembre neighborhood is establishing itself as one of the most promising areas for real estate development.
