By Rachel Hennessey: In 2003, former president of Canada’s Trust for Sustainable Development, David Butterfield, struck a deal with Mexico’s trust fund for tourism, Fonatur, to found The Loreto Bay Company. Backed by funding giant Citigroup Property Investors, the company aimed to convert a 3200-acre property on the Sea of Cortez into 6,000 sustainable residences. Building an environmentally friendly commercial district to support the new inhabitants – mostly Canadian and American retirees — was also part of the plan. To foster local recreational and medical facilities, Butterfield created The Loreto Bay Foundation in 2004, to which he donated 1% of the Loreto Bay Company’s gross home sales.
The Villages of Loreto Bay, Mexico (Photo credit: hawleyjr)
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