Jamaica
News - Real Estate - Projects (July
14, 2004)
$4-b New Era housing scheme gets nod again
New Era Homes, which created the
Angels housing scheme in St Catherine, has reportedly been given the green light
to proceed with its $4-billion, 961-unit housing development in Portmore called
Caribbean Estates.
The joint venture between New Era, operated by
Canadian developer Leo Taddeo, and the Ministry of Land and the Environment, was
halted in June by the National Environment and Planning Agency (NEPA) for fear
of its potential impact on the area's water resources.
NEPA reported that the proposed site was sitting
on top of a major acquifer, an important resource in the US$85-million Kingston
Metropolitan Area water and sanitation project now under consideration. This
project will benefit the corporate area and south east St Catherine.
But New Era then submitted to officials a
proposal to build a series of retention ponds to channel rainwater into filters,
and ultimately back into the acquifer. The company also proposed to establish a
storm water system to ensure adequate drainage for flood waters.
Although New Era had already cleared the lands
and completed technical designs specific to the site, it was forced to hurriedly
pull brochures at its booth at the Jamaica Manufacturers' Association exposition
in June at the National Arena in Kingston - after learning of NEPA's report.
If the project goes forward, Caribbean Estates
could be the last large-scale housing project in that section of the island as
the existing water supply in the area has become a major constraint on
development.
The Business Observer has also been told that
another project planned for Newlands in the St Catherine area by another big
developer is facing difficulties getting approval from the authorities because
of the water constraint.
Developers are now looking at the Mandela
Highway to the Old Harbour corridor for housing projects - with a special task
force headed by urban planner Joy Douglas having already begun work on a major
zoning project for that area.
New Era has, over the past six years, developed
four housing projects and two commercial projects. These include the Cedar Manor
and Cedar Grove housing schemes in Portmore, and Cedar Manor commercial lots -
both done in association with the Ministry of Water and Housing.
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