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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