Thu | Dec 14, 2017

Portmore Marina fields more villas at old Forum site

Published:Wednesday | November 8, 2017 | 12:00 AMAvia Collinder
This 2009 photo shows the old Forum hotel and complex acquired by Portmore Marina Development in 2015. The developer is now selling residential units in the Bay Front Villas complex under construction at the site.

The development company transforming the old Forum hotel on the outskirts of Portmore has placed another set of villas on the market, having secured buyers for the first set of two-bedroom units.

Portmore Marina Development Limited has been transforming the property since 2015, after acquiring the dilapidated complex from the Urban Development Corporation the previous year.

The company invested $350 million in the acquisition, and announced plans for a mixed development of residential and commercial waterfront facilities, called Bay Front. The plan included 75 two and three-bedroom single-family villas and 120 apartments. The residential and commercial construction was estimated at another $2.2 billion.

The development was initially meant to last 18 months.

Attempts to secure an update from project manager, Gina Harrison, were unsuccessful. However, the developer's website said it is now selling 19 three-bedroom villas at starting price of $24.9 million, after selling its two-bedroom villas. The developer began selling villas more than a year ago, but the website does not disclose the total number of successful sales.

Bay Front Villas is a gated community, which promises "access to the Bay Front Club with swimming pool, all-purpose courts, gym and recreational amenities", which is planned for completion in phase two of the development.

The Bay Front Marina is to be constructed in phase three.

avia.collinder@gleanerjm.com