Cayman Enterprise City announced the acquisition of a 50-acre site, near central George Town, where the special economic zone’s permanent 850,000-square-foot campus will be built.
The search for a suitable location has been under way since the project was launched in February 2012.
The property will border to the north side on the planned extension of Fairbanks Road.
With the construction of the new campus, Cayman Enterprise City expects to add another $300 million to Cayman’s economy. The access to the property is being discussed with government, but CEC’s design team said the access road will tie into the planned road expansion that is already gazetted.
As a first step CEC’s design and development team is working with the National Roads Authority, the Department of Environment, Planning and other government agencies to finalize access to the site.
Once the access road has been finalized, the land will be subdivided into parcels.
“This property is ideal and the best suited site for our campus,” said CEC Chief Development Officer Ms. O’Hara. “It provides for a larger pallet of experience; a city center, lakeside water frontage and mixing high tech office space with wellness in an eco-friendly environment.”
The master plan for the development, which is being developed by Cindy O’Hara and Design Cayman, encompasses individual park buildings that will house companies from various sectors, a main boulevard and boardwalk, set around a 14-acre lake and a flowing waterway to circulate lake water.
“The buildings are set around the lake, which will be the epicenter of a dynamic sustainable urban park. These will be living waters – an outdoor mangrove and wetland botanic park with new experiences playfully unfolding on the water’s edge, capturing water life and encouraging birds,” Ms. O’Hara said. “The design of pavilions, pathways and kayak and rowing launches bring into the focus the reciprocity of landscape, public life and ecology.”
The commercial center will be focused on high-tech co-working business communities, serviced offices and brand cultures. The innovation center and city hub will house the CEC headquarters and business center. CEC said the boardwalk would provide every building on campus with a great view, and some buildings will sit partially over the lake creating a floating effect for kayakers and paddle boarders to glide under,
“We’ve completely embraced the new National Conservation Law approved by Government, and we are very excited about working with the Department of Environment to create an eco-community focused on business that includes a Caymanian habitat and harmonious environment that promotes well-being. CEC will be a prototype for regeneration vision of a new urban park in Greater George Town,” said Ms. O’Hara.
CEC said, Ms. O’Hara and her team will be consulting with Government agencies and going through the proper channels before submitting a planned area development application (PAD). After the access road is gazetted, Cayman Enterprise City will access the site and plan the long anticipated ground breaking. CEC anticipates zone companies moving into the first buildings in the main campus in 2017.