Developer Dart Realty says its Kimpton hotel project is having spin-off benefits for the Cayman Islands economy and will create more jobs as construction enters its final phase.
A “topping out” celebration was held at the site with a team of more than 600 contracted workers last month following the completion of the two 10-story structures.
Now work begins to transform the concrete buildings into a four-star hotel and condo complex that will feature 266 rooms and 62 residences ahead of a November 2016 opening.
The hotel’s name will be revealed in November this year, when the first residences go on sale, according to Jackie Doak, chief operating officer of Dart Realty.
Dart’s construction management company DECCO says the number of workers on site will increase over the next 12 months.
“Since early 2014 when construction began in earnest, the project has provided more than 688,000 hours of employment for local workers, or the equivalent of 175 continuous full time positions for local workers,” a press release from the company stated.
“At this stage, there are 550 workers on the site every day with 55 percent of them being Caymanians or permanent residents and yet, the peak employment is still to come. DECCO expects the number of workers to reach 800 during the final stages,” the release stated.
Dart says more than US$150 million of the estimated total cost of US$309 million has been invested so far. It says 70 local contracts and local purchase orders have been issued to date, with a value exceeding US$100 million.
“We are proud to be introducing Cayman’s first new resort in a decade, with the stylish and best-loved boutique hotel brand – Kimpton,” said Ms. Doak.
“Local and international response to this property, Kimpton’s first Caribbean resort, has been resoundingly positive,” she added.
She said the hotel would be coming online for the 2016-2017 high season.
Last week representatives from Kimpton’s executive leadership and hotel pre-opening teams were on island in one of what will be a series of planning meetings between the developer and the operator.