Gore putting more Old Har­bour homes on the mar­ket

Jamaica Gleaner - - BUSINESS - Tameka Gor­don Busi­ness Re­porter tameka.gor­don@glean­erjm.com

GORE DE­VEL­OP­MENTS Limited says it is spend­ing $2 bil­lion to de­liver its next project in Old Har­bour, St Cather­ine, dubbed New Har­bour Vil­lage IV. The of­fi­cial ground-break­ing, mark­ing the launch of con­struc­tion, is sched­uled for Novem­ber 4 but work to clear the land is un­der way and frames of model units al­ready erected, Gleaner Busi­ness has ob­served. The model units should be ready for view­ing at the end of the month, the com­pany said. New Har­bour IV, an­other gated com­mu­nity con­cept to be lo­cated across from the Aviary De­vel­op­ment, will fea­ture homes of solid con­crete, con­crete roof, ce­ramic floors tiles and so­lar wa­ter heaters. “The lands were part of the lands pur­chased for NHV II so Gore has owned the land for some time,” said sales and mar­ket­ing man­ager, Joanne Pad­gett. Over the past eight years, Gore De­vel­op­ments has de­liv­ered 831 homes un­der the New Har­bour Vil­lage I project, 1,388 homes un­der New Har­bour Vil­lage II, and is wrapping up the last phase of the New Har­bour Vil­lage III project, which com­prises 992 homes over­all. The ex­pected com­ple­tion date for NHV III is March 2017. New Har­bour Vil­lage IV will de­liver 289 homes, with a mix

We are in­tro­duc­ing the one-bed­room, onebath­room. We are, for the first time, build­ing an ex­panded two-bed­room, one-bath­room model home to show pur­chasers the con­cept we have for cre­at­ing a larger home, in the fu­ture, for an af­ford­able price.

of two bed­room-one bath­room and one bed­room-one bath­room units.

“We are in­tro­duc­ing the one bed­room-one bath­room. We are, for the first time, build­ing an ex­panded two bed­room-one bath­room model home to show pur­chasers the con­cept we have for cre­at­ing a larger home, in the fu­ture, for an af­ford­able price,” said Pad­gett.

The one bed­room-one bath­room op­tion will be a 470-square foot de­tached home on a 2,500square foot lot, which al­lows for easy ex­pan­sion, the com­pany said in a press state­ment.

The one bed­room units are ex­pected to be go on the mar­ket for $6.35 mil­lion, plus clos­ing costs. The price is sub­ject to es­ca­la­tion.

“The tar­get mar­ket is those liv­ing and work­ing in the en­vi­rons of St Cather­ine and Kingston,” said Pad­gett.

Chair­man of Gore De­vel­op­ments Limited, Phillip Gore, ex­pects young first-time home buy­ers “will find this an af­ford­able start to home own­er­ship”.

The 650-square foot, two bed­room-one bath­room home will be sold for $7.6 mil­lion, plus clos­ing costs, and is also sub­ject to es­ca­la­tion.

The first set of houses at new Har­bour Vil­lage IV are pro­jected to be ready for de­liv­ery to home buy­ers in April 2017, “and we ex­pect to be sold out be­fore we start han­dover of the first block”, Pad­gett said.

Gore De­vel­op­ments has also just com­pleted 444 homes at Co­ral Spring Vil­lage in Fal­mouth, Trelawny and is now build­ing phase one of 1,174 homes at Mon­tego West Vil­lage in Mon­tego Bay, St James.

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