The Cayman Islands condo market is
expanding further with a new development in the Grand Harbour area.
Developers Careenage Ltd,
International Realty Group (IRG) and Smart Construction Management Ltd have
broken ground on Phase III of the Careenage.
The foundations have been poured,
keeping construction on target for a scheduled completion date of September
this year. A press release notes the first two phases were completed on time,
to budget and to the high quality demanded by the development team.
The release states the development
is in direct response to the market’s demand for quality marina-front condos.
“The Careenage has had
phenomenal sales success despite the difficult market and has exceeded
expectations with 29 out of the 32 units already sold,” said IRG Sales Associate
“The development offers waterfront
living at an affordable entry-level cost and early purchasers have the added
benefit of customizing their interiors.”
Designed by architect John Doak the
Careenage reflects the eclectic mix of colorful styles found throughout the
Caribbean. The design incorporates the rigidity and resilience required to
withstand hurricanes, passive cooling and an efficient use of space within a
With 12 units of one to three bedrooms, the
Phase III site is adjacent to the development’s shared swimming pool and clubhouse.
The project is a short drive from
town, and the various amenities of the Grand Harbour Shoppes which include a supermarket,
shopping, gym, skate park, wave pool, restaurants and bars, are all within
immediate walking distance.
All units enjoy prevailing breezes
and sheltered lagoon views across the growing residential canal front
In addition, the first phase of the
marina’s 30’ slips are about to be brought onto the market for pre-sale.
“We are excited about launching the
marketing for the first phase of the marina slips at the Careenage, which
provides owners, tenants and other boaters the opportunity to purchase fully
equipped boat docking spaces with a freehold title, a first for developments in
Cayman,” said Jeremy Hurst, Broker/Owner of IRG.
“The Bellingham Marine docking
system specified is first class and designed to provide a high degree of
hurricane resiliency. It will be a tremendous amenity and complement the
apartments which are already selling very well.”