Matalon Homes to develop luxury residences at Tavistock
Matalon Homes Limited plans to develop 42 residences in the affluent community of Tavistock in upper St Andrew, a complex it has tentatively branded the Pordoi.
The units, comprising two and three-bedroom apartments on a four-storey building, will be targeted at mid-level professionals.
"We are looking to break ground in the fourth quarter of this year," said director Peter Matalon on Monday.
The development will be similar to the Gavia complex on Upper Melwood, Cherry Gardens - one of the developments completed by Matalon Homes since its inception.
The Pordoi site spans 4.2 acres bordering Millsborough.
"It is going to be similar aesthetics to our previous developments, so it's going to be contemporary in styling," said Matalon. But as to the size of the investment, he said the costings for the project, as well as the price at which the units will hit the market, were still to be finalised.
"It will be financed with a combination of cash and debt," he said.
The company incorporated in 2005 has built five key residential developments including Gavia, The Welwyn, Eight, Eleven and Cocopalm, along with a number of projects, including Toyota Jamaica's showroom on Old Hope Road.