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Matalon Homes new luxury project

Published:Sunday | July 20, 2014 | 12:00 AM

Real-estate developer Matalon Homes is investing $400 million in its latest residential project to be called Welwyn.

Construction of the luxury townhouses and apartments at Millsborough in St Andrew is to last a year.

The units are priced at US$210,000 for the apartments and US$420,000 for the townhouses, or approximately $23.6m and $47.3m. Prices are not subject to escalation, the company said.

Peter Matalon said Welwyn will comprise 12 units on one acre of land.

The one-bedroom apartments will each span 1,100 square feet, while the townhouses will measure 2,100 square feet. He said the units are targeted at young professionals.

Other high-end projects previously done by Matalon Homes include Eleven, which is also in Millsborough, and Coco Palm at Water Works in St Andrew.