President Leonel Fernandez was in La Romana last week to formally inaugurate the La Estancia tourism and residential area located between La Romana city and Bayahibe. President Fernandez and Tourism Minister Francisco Javier Garcia cut the symbolic ribbon marking the official opening of the US$120 million development. Once completed the development will feature a 27-hole golf course and 2,500 residences. In the keynote address at the opening, company president Eduardo Morrison highlighted the fact that now it is made up of the Las Brisas Apartments (60 units), La Canada Townhomes (52 units), Par 3 Golf Residencies (12), Las Villas Golf Cottages (18) and 300 lots with already 60 villas so far. He said that some 90 families are living permanently in the residential area. La Estancia golf course is 18 holes. Colegio New Horizons, a school accredited by the New England Association of Schools and Colleges, is opening a branch for the 2011-2012 school year. A hotel will be built as part of the second phase.