BC Dundee Enterprises to develop $4 billion complex in Trelawny
Developer BC Dundee Enterprises Limited plans to construct a $4-billion upscale residential and commercial complex in Trelawny, to be called the Hamptons at Dundee.
The project, which will provide 266 homes, seeks to tap into the returning resident market and unfulfilled demand for quality housing in that parish.
"The development will cost a huge amount, anywhere between US$30 million and US$35 million," said BC Dundee director Carl Erskine on Tuesday. Those estimates average $4.2 billion in local currency.
BC Dundee plans to sell three-bedroom homes for roughly $32 million and two-bedroom apartments for around $22 million, said Erskine. The project is expected to be financed from a mix of debt and equity.
"Two banks are currently looking at the project," he said.
BC Dundee Enterprise's directorship includes Erskine and Baldwin Jarrett. The company, based in Montego Bay, has already applied to the National Environment & Planning Agency (NEPA) for a permit to subdivide approximately 30.7 hectares (76 acres) of land at Dundee in Trelawny for the proposed housing development.
The project recently received approvals from the National Water Commission.
The timeline for starting construction of the Hamptons at Dundee, however, is dependent on the timeline for planning approvals.
"We will have a public meet1ing for the 7th February in the community," said Erskine.
"Once we have that public meeting out of the way, we should be able to comment on a time to start. So at this time, I cannot comment on a date to start," he said.
The mixed-use development will be located in the Salt Marsh area of Trelawny, approximately 4.5 kilometres west of Falmouth. The homes will be in the form of three-bedroom bungalows, three-bedroom two-storey units on individual lots, as well as two-bedroom apartments, according to the environmental impact assessment (EIA) compiled for BC Dundee Enterprises by EPN Consultants Limited.
"In addition to the proposed residential units, the northwest corner of the development is slated for commercial development, as a feeder shopping centre not just for the development itself, but to contribute to the overall development of the community of Salt Marsh and its environs," stated the EIA.
The first phase of the project will deal with infrastructure and construction of 102 of the 266 residential units; phase two will deliver another 50 homes, comprising 38 single-family residential units and 12 apartments; phase three will deliver 48 two-bedroom apartments and 24 single family units, while the final phase will cover another 32 single-family units.
"According to the NHT (2009), Salt Marsh was one of the top ten locations in Trelawny for likely future residential development. The project proponents have, therefore, viewed this proposal as an opportunity to tap into the demand for residential units on the northern coast of the island which is noted for its vibrant tourism product," said the environmental report.