The development and sales teams of ONE Canal Point, with general contractor Warren Greene, held an official groundbreaking of the 74-unit condominium and townhome community last week.
ONE was conceived by its investment partners in response to a need for both affordability and convenience in one of the most popular locations on Grand Cayman, ONE Canal Point developers said in a press release.
The development will occupy a five-acre site along Canal Point Drive, and a boardwalk with docking will border the 900 feet of canal frontage.
“We envision ONE Canal Point to be one of the most highly sought-after locations in Grand Cayman. Residents will have the luxury of being able to access the North Sound from their canal-front properties while only being a few minutes’ walk from the world famous Seven Mile Beach,” said Chad Horwitz, Warren Greene director and project controls manager.
Properties range from one-bedroom condos with a starting price of US$600,000 to four-bedroom townhomes with resort-style amenities designed by the Gensler architectural firm.
Two- and three-bedroom condos offer buyers a variety of floor plan options with the choice to add den space and private plunge pools. The pet-friendly community will also include a dog park.
During clearing of the site, the developers said, more than 300 non-invasive trees were saved for a nursery as part of a plan for abundant greenery throughout the neighbourhood.
“ONE is an amenity-rich community built around outstanding water access and views at an attainable price point. We are fortunate to build it within the most prestigious gated community in the Seven Mile Beach Corridor,” the developers said.
The townhomes are scheduled for completion in January 2021 with condos expected to be finished between April and August 2021.
Buyers who secure the land contract before 31 Dec. will benefit from stamp-duty savings on certain units, according to the developers. Half of the development has been sold.