The Baja Peninsula, the home away from home for many a Los Angeleno and Arizona resident, is getting yet another luxury resort real estate development catering to the luxury vacation home buyer. In the summer of 2009, Quivira Los Cabos, a $1.5 billion development anchored with Ritz-Carlton residences, will open its doors to the first owners. The question is, does Cabo San Lucas need another high-end real estate community?

Well, the folks at Ritz-Carlton would no doubt say, absolutely, even in the face of a looming recession. In this popular tourist corner of Mexico, Ritz-Carlton is going head-to-head with other super luxury developers, including Horst Schulze (who oddly enough got his luxury schooling at the helm of Ritz-Carlton Hotels) who is opening the beachfront Capella Pedregal in Los Cabos this fall.

The Residences at the Ritz-Carlton, including 44 oceanview homes and 78 one-level beachfront houses, will feature panoramic views of the ocean and mountains as well as gourmet kitchens, terraces, pools, courtyards, two-car garages and golf-cart garages. The homes will exude a Mexican hacienda style, with interior gardens, a guest casita and tiled fountains. And at four- to six-bedrooms, will be large enough to house an entourage, or at least any extended family members.

In addition to a 36-hole Jack Nicklaus oceanside golf course, the Quivira development that the Ritz properties will call home features the pre-existing, and highly-lauded, Pueblo Bonito Pacifica Holistic Retreat and Spa. Spanning 1,850 acres, the development will also offer 20 miles of walking, hiking and cycling paths as well as a fitness center. Restaurants and a beach club will line the property’s three miles of beaches. Construction on homes and golf courses is beginning this year, with sales kicking off April 15. Price tag? $4,850,000 to over $11,000,000. Recession? What recession?