The government of Nayarit has officially launched Costa Nayarit, a landmark tourism and residential development built around a network of interior canals that developers say will make it one of the most ambitious nautical communities in Mexico.

Governor Miguel Ángel Navarro Quintero formally presented the project on Thursday at the Costa Canuva complex in the municipality of Compostela, describing the announcement as a historic day for both the state and the country.

The development carries an investment of over 21 billion pesos (US $1.2 billion) and is being spearheaded by a consortium of firms, including Prodi, Life Properties International (LPI) and GFA. The developer partnership is structured as a 50-50 arrangement between Mota-Engil México and the Fasja family.

The project’s defining feature is its nautical focus: a network of interior canals will give waterfront residences private docks, alongside a full-service marina and specialized infrastructure for vessels. Additional amenities will include a championship golf course designed by Tom Fazio, a wellness center and a racquet sports complex with tennis, padel and pickleball courts.

Over a 10-year horizon, the development is expected to generate over 10,000 direct jobs and produce an economic spillover exceeding 180 billion pesos ($8.6 billion), according to Governor Navarro.

The land will remain state property under the Fideicomiso Nuevo Nayarit framework, with the government set to receive returns of up to 18%, channeled into the state savings fund for workers’ pensions.

With reports from El Financiero, El Economista and La Jornada