{"id":20620,"date":"2017-08-04T13:40:28","date_gmt":"2017-08-04T18:40:28","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=20620"},"modified":"2017-08-22T09:57:54","modified_gmt":"2017-08-22T14:57:54","slug":"casco-viejo-stepping-back-time","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/casco-viejo-stepping-back-time\/","title":{"rendered":"Casco Viejo – Stepping back in time"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Susie and I were in Panama City last week getting her Panama ID card and we decided to stay over night in Casco. \u00a0Our choice was to stay at The American Trade Hotel.<\/p>\n

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A TripAdvisor writer described this place best. \u00a0“Stunning is the wrong word for the grace and beauty of this hotel. Sitting in a rocker in the light filled lobby viewing a plaza across the street, I watch guests walk by me wondering \u00a0why they are not dressed in the splendor of the early 20th century, the 2013 hotel restoration being so effective. The hotel is located in the tiny island of Old Panama City, centuries apart from the the generic balance of the city.”<\/p>\n

KC Harding<\/a>,\u00a0\u00a0a corporate lawyer from New York, hung up his suit and moved to Panama years ago where he discovered the beauty of Casco. \u00a0Here he redeveloped a number of buildings including the restoration of\u00a0The American Trade Hotel<\/a> originally built in 1917. \u00a0He was very careful selecting a great operator and Ace Hotel<\/a>\u00a0was a brilliant choice. Opened in 2013, the hotel is a landmark in Casco.<\/div>\n
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After a long day in the City, we decided to walk across the plaza and eat dinner in the CasaCasco<\/a> building, a 4 story building restored to its own glory. \u00a0The building houses 3 restaurants with the first floor offering international cuisine, the second sushi and Asian cuisine, the third level Mediterranean and the top floor a bar with an open roof top section.<\/div>\n
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WOW was the only way to describe the place and the evening. \u00a0What a way to close out our trip to the City.<\/div>\n
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On a business note, I met with an old friend \u00a0who has been active operating a REIT in Casco \u00a0and the City where they have over 63 properties, both renovated and in various stages of development. \u00a0One particular building that I like a lot is located between a hotel and the future home of La Rana Dorada<\/a>\u00a0a local Cerveceria where they make and serve some of Panama’s best brew.<\/div>\n
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The building that I like is perfectly located between two great operations and will benefit from the traffic.<\/div>\n
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Casa Del Baile gets it’s name, Dance House from the dancing court that was originally on the first floor. \u00a0 It is a two story brick building with magnificent balconies overlooking the street. It has three large arch shape openings to the street allowing to absorb the vibrant atmosphere of Casco Viejo into the house spaces. The vision for Casa del Baile is to restore its stunning fa\u00e7ade and bring back its historic charm to life. The house\u2019s location, size and space distribution makes it ideal for high end luxury apartments. There are 2 commercial spaces in the street level, and 6 apartments. The house can potentially be sold to the hotel across the street or to the distillery when additional space will be required. This is a very common practice in Casco Viejo due to the limited inventory of buildings and growing popularity of the area.<\/div>\n
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There is also room to further develop the building with a roof top bar.<\/div>\n
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\"\"<\/a><\/div>\n
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\n

What I would not give to have the money to buy this place and make it my personal residence in the City, renting out the ground floor for an income source. \u00a0 The chances of doing this are becoming slimmer and slimmer as the opportunities get snapped up by investors. \u00a0Casco is a special place.<\/p>\n

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Casco Viejo, an eclectic mix of Art deco, Caribbean\u00a0and Spanish Colonial\u00a0style was designated a world heritage site by UNESCO a few years ago.\u00a0\u00a0\u00a0There are now regulations in place to ensure\u00a0the old city maintains it\u2019s integrity and look by limiting the type of construction and modification of its buildings.\u00a0\u00a0\u00a0Any construction requires approval by\u00a0the\u00a0council to\u00a0ensure\u00a0the renovation plans meet\u00a0the requirements.\u00a0\u00a0 Facades must be maintained and the heights of the buildings must also remain intact and not be increased.\u00a0 Developers that focus in this area have done wonderful restorations of beautiful historic buildings choosing to replicate\u00a0hand painted tiles instead of replacing them with modern tiles.\u00a0 Facades that were falling apart are now completely restored and resurrected into their original form\u00a0that reflect the care and attention of the artisans of that period.<\/p>\n<\/div>\n

This could be yours and a trophy property for sure. \u00a0For this and other opportunities in Casco, contact me<\/a>.<\/strong><\/p>\n<\/article>\n

For more on Casco, here is a post that I did.\u00a0Why Panama City’s Casco Viejo Is Latin America’s Most Stylish Destination<\/strong><\/a><\/p>\n\n

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    Susie and I were in Panama City last week getting her Panama ID card and we decided to<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[10,12,247,241,39,248,34,33,62,42,219,11,249,243,7,246,244,44],"class_list":["post-20620","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-bocas-del-toro","tag-boquete","tag-boquete-boca-chica-real-estate","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nCasco Viejo - Stepping back in time -<\/title>\n<meta name=\"robots\" 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