Michael Ryan and Dale Crighton have broken ground on their new oceanfront condo development in George Town.
The development, Fin, aims to bring five-star resort-style elegance and amenities to the residential market.
Construction work began last week, following a two-year design and planning process, on what will be a four-story, 36-unit development on South Church Street.
Construction is expected to take two years to complete, with the first owners moving in around the summer of 2019. Around 60 percent of the units have already been pre-sold.
A salt-water lagoon will be carved into the iron-shore and a new beach created overlooking the marine park. (more…)
Robert McCrimmon
August 1, 2017
UncategorizedCayman, development, FIN, Seven Mile Beach
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The Cayman Islands tourism department is seeking a 5-year plan that will help relieve the key attraction, Seven Mile Beach, and spread growing visitor numbers across Grand Cayman.
George Town has dramatically changed over the past three decades, and Seven Mile Beach is loosing its appeal as more and more people come to the island and overcrowd the iconic beach.
The strategy over the past couple years has been to focus on visitor growth. Now that the 300,000 targets has been met and surpassed that focus now shifts to managing that growth in a sustainable way.
“It is not just about numbers anymore. It is also our ability to handle that volume.” Said Director of Tourism Rosa Harris. “Developers will have their ideas for what they want to do, but we need our own vision for the type of development we want to encourage.” (more…)
Jason Pickthall
May 19, 2016
BlogCayman, Grand Cayman, Seven Mile Beach, tourism
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The ultra-luxury sector of the residential market is really starting to establish itself and confirms that international investors are seeing real value in Cayman real estate product.
There has been remarkable recent activity in the $3 million and higher market in high-end residential homes.
The market in this case appears to be made up of both local buyers and those from overseas looking to have their own space while they live here, either temporarily for a few months of the year, or permanently.
During the last nine months, the market has been extremely buoyant. The buyer’s market of the last few years is giving way to a seller’s.
Growth is centred along Seven Mile Beach for condominiums, and Cayman Kai, on the island’s north, for single-family homes. (more…)
Jason Pickthall
April 21, 2016
BlogCaribbean, Cayman Islands, Cayman Kai, financial services, global transparency, international investors, M&A market, market, property market, real estate, residential, Seven Mile Beach, ultra luxury
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A Dart Realty affiliate will pay the Cayman Government US$14,574,000 for the conversion of leasehold to freehold on the 280-acre former North Sound Golf Course.
As it stands the land is subject to a 99-year-lease that has 75 years left. Negotiations of the freehold transfer began in 2011 with both the government and Dart Realty having appraisals done on the value of converting the land from leasehold to freehold.
Conversion of the lease will have to be finalised in accordance with the requirements of the Governor (Vesting of Lands) Law, but the deal has been done in principal.
This is the latest of a number of Dart Realty projects. Last Wednesday (January 27 2016) Dart Realty Ltd. celebrated the official opening of its new Camana Bay LEED® Gold certified 86,000 square foot office building.
The building at 18 Forum Lane will minimise energy use through their shade-on-shade design, rooftop solar panels and thoughtfully designed landscaping to offer ample shade. (more…)
Robert McCrimmon
February 2, 2016
BlogCamana Bay, Cayman Government, Dart Realty, freehold, Grand Cayman, Kimpton, Kimpton Seafire Resort and Spa, leasehold, LEED Gold certified, luxury residence, North Sound Golf Course, Seven Mile Beach
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On Thursday 24th of September the Cayman Government signed an agreement with developer John David Layton to construct a five-star hotel and condominium project in Beach Bay.
The project is set to start next year at St. James Point in the District of Bodden Town. Plans call for a branded hotel that includes a spa, restaurants, bars and retail space.
The developers have been talking with successive administrations for around seven years but after reaching an agreement with the government they are now ready to begin submitting planning applications.
The Cayman Government will be giving up a potential income of $25 million in concessions to ensure that the hotel and condo project gets built.
The Government believe that income for decades into the future from hotel room tax, visitor spend, duty from the sale of the condos will out weigh the duty waiver on construction material, furniture and fixtures for the construction, stamp duty, and non-consumable material for start-up of the facility. (more…)
Robert McCrimmon
October 2, 2015
Blogbar, Beach Bay, Bodden Town, Cayman, Cayman Government, Caymanians, concessions, condo, developers, Grand Cayman, hotel, John David Layton, restaurant, retail, Rum Point, Seven Mile Beach, spa, St. James Point
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When people think of the Cayman Islands, most people think of no direct taxation, great weather, beautiful beaches, amazing diving and stunning Caribbean natural beauty. What people don’t necessarily think of is Cayman’s fantastic world-class food scene that has exploded over the last couple of years.
International and local chefs continue to open fantastic restaurants in Cayman bringing a fantastic mix of Caribbean and European influences to the Islands, and with many Cayman eateries adopting the farm-to-table movement its not only high quality seafood on offer.
The farm-to-table movement not only brings healthy, fresh and local produce to Cayman plates but also keeps money in local pockets. When dining in Cayman you can be eating the fish from its waters and the vegetables from its land. (more…)
Jason Pickthall
May 11, 2015
BlogBestofCayman.com, Blue Restaurant, Camana Bay, Capt. Herman East Side Fish Fry, Caribbean, Cayman Islands, Cindy Huston, Eric Ripert, farm-to-table, farmers, food, healthy, Le Soleil d'Or, local produce, Michael Schwartz, Michael's Genuine Food & Drink, Ortanique, Ritz-Carlton, Seven Mile Beach, Sunshine Grill, Taste of Cayman, The Brasserie Restaurant & Market
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A US$40 million planning application of Camana Bay has been submitted to widen and realign the Esterley Tibbetts Highway. The plans include a four-lane divided highway, an underpass and a pedestrian-friendly ramp over the realigned road.
Once the four-lane bypass is completed the existing road will transition to a low-speed internal road though Camana Bay.
The $40 million road is phase one of a US$400 million build-out plan of the area by the Cayman Islands Government and Dart Realty (Cayman Ltd.). Phase two will aim to add a pedestrian overpass over West Bay Road to Seven Mile Beach, and the final phase will be a newly constructed five star hotel and residence on Seven Mile Beach. (more…)
Jason Pickthall
April 29, 2015
BlogAlden McLaughlin, Camana Bay, Cayman, Caymanians, Dart Realty (Cayman Ltd.), Esterley Tibbetts Highway, planning, Seven Mile Beach
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