The Rebuilding of Casco Antiguo

Officially known as San Felipe, Casco Antiguo (also known as Casco Viejo) is one of Panama City’s national treasures. It was originally built in 1673 after the sacking of the city by the pirate Sir Henry Morgan. Early on, this area hosted the French officials during their attempt to build the Panama Canal. What resulted was a culturally diverse, unique neighborhood with a mix of Spanish colonial and French provincial architecture.  Paseo Andaluz is greatly influenced by Spanish colonial on a much smaller scale than the Casco Antiguo.

During the last decade, attempts have been made by several organizations and groups to incite the refurbishment of this district known as San Felipe. Today it is a place commonly visited by tourists and locals looking for a place to have fun, wine or dine embraced by its colonial environment.

In 1997, UNESCO selected Casco Antiguo as one of its 46 historic locations. Local and international investors have gradually but unquestionably created a new life in the area which has become palpable among the transited, balconied streets. Incentives have been created by Panamanian law for those wishing to invest in this neighborhood. These apply to San Felipe, parts of Santa Ana, Salsipuedes and an area known as Terraplen. The law states that buildings located in parts of these areas are classified as historical structures and special permissions must be granted prior to any restoration works. The architectural characteristics of each building are taken into consideration prior to their refurbishment. Several of the incentives provided by the law are preferential mortgage rates for investment into restoration projects, no property tax for the first thirty years, no importantion tax, no Transfer of Title tax and no tax on rental revenue generate in Casco Antiguo.

Richard Fifer’s dream is that Paseo Andaluz be a place to bring back memories of yester years, a place to enjoy the architecture, good food, smiles and good times.