Topic: Lacovia

Construction is well underway. Prices will increase substantially during construction – so, there is only a limited time left at these current low prices with special buying incentives.

Marking a major milestone for this first-of-its-kind resort redevelopment project on Grand Cayman’s Seven Mile Beach, the construction of the $330 million Lacovia resort is progressing quickly.

Property investors are buying up condos in older Seven Mile complexes, in the belief that more Lacovia style redevelopments will be approved along the beach.

Marking a major milestone for this first-of-its-kind real estate redevelopment project on Grand Cayman’s Seven Mile Beach, the demolition of Lacovia began on Friday, February 16th, just a week after the conclusion of a deal for the financing of the $330 million project. IP Driver Ltd., a local subsidiary of JV Driver Limited, has been entrusted as the contractor for the development.

With an overwhelming show of support, the owners of Lacovia have given their resounding approval for a $350 million redevelopment project, securing a bright future for this prominent landmark.

One of the oldest condo complexes on Seven Mile Beach, Lacovia, is likely to be demolished in July, the contractor has said, to make way for a $263 million 10-storey luxury resort.

By walking, wading and paddle boarding, from West Bay to George Town, the Cayman Compass sought to document the shifting sands of Seven Mile Beach and found the traversable portion is now closer to four miles.

Plans to demolish and redevelop one of Cayman’s oldest condos, Lacovia, have been approved by the Central Planning Authority, despite objections from neighbouring properties.

With construction activity continuing unabated, several new projects that will extend the development boom into 2020 and beyond have either been floated, approved or already launched.

A section of West Bay Road will be closed overnight Tuesday.

For some time now, I have written about the dwindling inventory available on Cayman’s most prized real estate corridor, that of Seven Mile Beach. I can now report with some excitement that the owners of the Lacovia condominiums – an existing development located about a third of the way up Seven Mile Beach – have unanimously agreed to redevelop their property.

Owners at Lacovia, one of Seven Mile Beach’s oldest condo developments, voted Saturday to demolish their homes and replace them with three new, 10-story buildings.