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Jamaica News - Real Estate - Projects (March 20, 2005)
New condo complex promises 'unparalleled indulgence'
SPREAD over 16 acres of prime beachfront lands, a new luxury condominium complex for the rich is now ready for sale at prices ranging as high as $120 million in local currency.

But while groundbreaking is set for this month, the units won't be ready for possession until late 2006.

The cheapest unit is billed at about US$350,000, or approximately $21 million.

Palmyra, long announced as an anticipated fillip to luxury tourism offerings, is located in Rose Hall on lands owned by the Rollins family and developed by one of their local companies, Rose Hall Development Limited.

Patriarch of the Rollins family, John Rollins, an American who was in love with Rose Hall, passed away in 2000. But his widow Michelle, an attorney and former beauty queen, continues to oversee his local projects.

Palmyra, which offers condos, villas and homesites, sits beside the Ritz-Carlton Rose Hall, a luxury seaside hotel built by the Rollins in partnership with the Jamaican government.

The condo complex was developed in partnership with Resort Properties Group, a company with 20 years under its belt of developing luxury complexes in Europe, and headed by Robert Trotta.

A public relations release on Palmyra promises "world class amenities and unparalleled indulgence in a tropical village setting" for those who buy property there. It sits, said the release, in "an elite enclave".

The complex, designed by Miami-based architect Joe Andriola, vice-president and principal of Sandy Babcock Architects, offers:

. 13 duplex buildings comprising 26 villas - each villa is 2,528 square feet
Price per villa: US$1.6 - US$2 million;

. 5 condominium buildings with some 504 individual condo units - units are either one, two or three bedrooms, ranging from 716 to 2,181 square feet
Price per condo unit: mid US$300,000 to US$1.4 million;

. 10 penthouse units
Price per penthouse: US$1.9 million.

The development seems to be pitched largely at Americans, with one of the selling points being easy access via direct flights into Sangster International Airport from "a multitude of major US hubs", including Miami and New York.

Said Trotta: "The Palmyra presents the perfect occasion to create a sustainable, luxury community that celebrates the island's resources through architecture, amenities and experience. We're pleased to offer a ground floor real estate opportunity in a culturally-unmatched seaside haven."

A 20,000 square-foot spa is also to be developed but no timeline given.

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