A property developer is reportedly fine tuning plans to finance a project that will produce 224 high-end beachfront apartments at Drax Hall in St. Ann. The developers are said to be the same company that delivered several property developments in St. Catherine developments including Angels I, Angels Estate II, Cedar Grove, Cedar Manor and Caribbean Estate.
According to reports, the developers have already received the requisite building approvals, and the construction of the high-end two-bedroom and three-bedroom units on 14 acres of land is expected to start in July 2010. The apartments will reportedly be sold for between US$350,000 and US$400,000 (i.e. between J$30.7 million and J$35 million).
The National Housing Trust (NHT) is said to be a possible co-financier of the project, with the remainder of the funds expected to come from the partners. More details soon.
August 30th, 2010 at 1:39 pm
Need more information on this, thanks