Artesana Residences San Miguel

A while back we covered luxury real estate in San Miguel de Allende, Mexico at the end of 2010, but the latest and greatest new in-city development was mostly a giant construction zone then. At the height there were 900 workers scurrying around getting Artesana Residences off the ground.

This ambitious project shares the big expanse of acreage the new Rosewood San Miguel sits on and owners here are free to use the facilities there, like the spa, the gym, and the best hotel swimming pool complex in town. It’s all just a few blocks from the historic center though and right by the city’s largest park. So residents here get the kind of modern infrastructure and sensible layouts they would get in a development in the suburbs, but in a pedestrian-friendly area with all the great restaurants and bars around.

This project takes everything up a notch as well, thanks to the “spare no expense” attitude of the experienced developers. For buyers who can afford the best and are willing to pay for it, Artesana Residences will please all of them except ones looking for a colonial house with history or those looking for land/privacy. (These are villa homes right up next to each other.)

Every residence has an elevator. Parking is all underground. Deliveries happen from underground, not from the pedestrian-only main thoroughfare. Pressurized water comes through a filtration system. And of course there’s 24-hour security, a remote-controlled gated entrance for cars, Viking appliances, top-notch central climate control systems, high-end fixtures, gas fireplaces, etc. Units don’t come furnished though, so you need to work with their designer to source all that if you want to be part of the rental pool. The good news is, you can get a lot of things custom made in this city of artisans for a very reasonable price.

Units run from two bedrooms and 2,300 square feet to five bedrooms spread over 8,800 square feet, with 17 different layouts in all. See the floor plans here. Two and three-bedroom units run $615K to $1.5 million, with the very largest villa going for $2.4 million. This being mortgage-scarce Mexico you’ll need to truly wealthy rather than aspirational: you have to pony up most or all of that in cash and monthly maintenance will run another $450 to $710 depending on square footage.

Much of the Phase 1 development was still undergoing interior construction when I visited in May, but the units that were finished were real showpieces. In a city full of beautiful homes, these will fit right in. The village feel is a nice bridge between old and new: it’s built on a human scale that encourages strolling and interaction, but it’s got the dedicated garage parking and brand new wiring/plumbing that you don’t usually get in el centro.

When all three phases are complete, there will be 123 units. That will take a while in the current real estate climate, but with current sales running 50/50 between foreigners and Mexican nationals, not as long as some American-only coastal developments. And you don’t have to wait for any of the common areas to be done: they’re all up and running at the Rosewood.

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