Company Background
The Seed is Planted
In the summer of 1975, The Clifton Family of Tucson, Arizona, took their first vacation to the shores of Puerto Peñasco, Mexico. In search of sandy white beaches and serene ocean waves, the family became instantly enamored with the lifestyle and the beauty of the sleepy beach town. At the time, Puerto Peñasco (known to many of its U.S. residents and visitors as "Rocky Point") was desolate, with no running water or electricity. Nevertheless, the Clifton family knew that the culture and scenic environment would attract American tourists looking for an inexpensive and easily accessible beachside escape.
As the town continued to grow, the Clifton Family secured its ties with the community. Patrick Clifton, son of Rodger and Jeanette Clifton, envisioned a thriving second-home destination in Puerto Peñasco and increasingly invested in its undiscovered real estate market. An experienced entrepreneur, Mr. Clifton initially began investing in Puerto Peñasco with his father, and based on that success and the increasing land opportunities there formed the real estate development and investment company Clifton Meridian LLC in 2003.
Clifton Meridian Grows
Clifton Meridian LLC was born as a Scottsdale, Arizona-based real estate development firm focused primarily on whole and fractional ownership upscale residential beach communities. Clifton Meridian purchased its first large parcel of land in the exclusive gated community of Las Conchas in Puerto Peñasco, where it has broken ground on and is developing the Las Fuentes del Mar private home and villa community. The company has also broken ground on La Perla del Mar, located in the popular "El Mirador" section of Puerto Peñasco, adjacent to the town's best shopping and dining. La Perla del Mar is the first high-rise, luxury community in the town's Mirador section. Clifton Meridian has also most recently broken ground on Los Patios Privados, a low-density, moderately priced condominium community located 4 blocks from the beach and within walking distance to the city's tourist and commercial center.
Looking to the Future
As Clifton Meridian continues to develop luxury residential properties in Puerto Peñasco, the town itself continues to grow and flourish. In 2006, the market welcomed over 1.6 million visitors, a number predicted to jump to more than three million in less than five years. Key infrastructures planned by the Mexican government are underway. The Coastal Highway linking the port of entry for Southern California and Puerto Peñasco, scheduled to be completed in 2009, will reduce the southern California drive time by two hours. Additionally, the International Airport under construction is scheduled for completion in 2010, and the expansion and improvement of Mexico's "Nautical Ladder" servicing private pleasure crafts on the Sea of Cortez will simplify and improve travel into the Puerto Peñasco community. Most recently, the city of Puerto Peñasco and Holland America Cruise Line announced a partnership designating the once quiet fishing village as the disembarking point and final destination for all of Holland America's Sea of Cortez four and seven-day cruises. A massive port is set to begin construction in 2009 and will accommodate 200 cruises annually upon completion Mr. Clifton estimates that in ten years, Puerto Peñasco will expand to three or four times its current size and welcome five times as many visitors annually. In addition to its interests in the popular coastal town of Puerto Peñasco, Clifton Meridian is researching future opportunities in other coastal regions of Mexico, and emerging beachfront markets globally. The company is also focused on bringing to market sustainable and LEED certified communities, with plans for an affordable and low-income housing division as well.