Gore Developments Putting More Old Harbour Homes On The Market
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 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 2,500-square 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.