The 9 500 square foot show home is slated to be completed in November of next year.
Ground broken on housing project
10/19/2009
By Randy Howard
THE high-end segment of the multi-million dollar Apes Hill residential development project has gotten under way.
This was revealed last week by James Burdess, Sales Director of Moonwalk Construction Inc., the developers of the “Moonshine Ridge” segment of the much-talked- about St. Thomas project.
Burdess told Business Monday at a site visit to mark the commencement of the construction of the company’s show home, that when completed in approximately five years’ time, the project, which is being developed on an area of about 25 acres, will have a total sales value of between US$150 million (Bds$300 million) and $160 million (Bds$320 million).
He stated that 31 lots are being developed for sale, with each lot being between a half acre and an acre, with the houses being built on them ranging from approximately 4,200 square feet to 9,500 square feet.
The lots themselves are priced between $975,000 (Bds$1.9 million) and $2,250,000 (Bds$4.5 million), but once the homes are completed, Burdess indicated that the entire property will cost between $3.5 million (Bds$7 million) to $8 million (Bds$16 million), inclusive of land and home.
As mentioned earlier, this is the high-end segment of the Apes Hill project developed by local businessman Sir Charles Williams, and as a result possesses the larger lots.
Burdess stated that they had completed the purchase of the area this time last year, and spent the last 18 months developing the master plan, developing the drawings and the home sites.
The purpose of the site visit therefore was to announce now that we’re breaking ground with the show home, and realising the information about the development to all the agents locally, while they will also be an international campaign.
“Obviously things have been difficult in the world of the last 18 months, but we’re out building and the project is underway”, he said.
He stated that they have been involved in other high-end projects in Barbados, and indicated that the shareholders have, collectively, significant experience in real estate development in the Caribbean, Europe, and other regions across the world.
“Everyone that’s involved in this project has a home in Barbados, and loves Barbados first and foremost, so it’s come as a result of that fact. We came and looked at Apes Hill, we thought it was absolutely fantastic and that’s why we bought into it.”
The Sales Director stated that normally they would not do a public launch like this one, however, they felt that it was important in times which aren’t so great, to show that there is development still happening and that they are still moving ahead with the project.
He argued that the project is going to result in considerable employment, making the point that “the important thing to remember is that although they maybe 30 or 40 direct jobs created by the actual construction of one, two, or three houses, it’s the multiplier effect of all the downstream businesses; all the suppliers, the subcontractors, etc.”
He indicated that it is all Barbadian labour being utilised on the project, and that they are using a local construction firm.
