Business

Guardian breaks ground for $4B apartment complex

Friday, March 22, 2019

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GUARDIAN Life Limited, a subsidiary of Guardian Holdings Limited, has broken ground for a 176-unit apartment complex in Kingston valued at approximately $4 billion.

The two towers apartment complex — the Cambridge Edge and the Cambridge Elite — sits on three acres of Guardian Life's property located on Vale Royal lands which forms part of the centrally located Golden Triangle.

It's the second of its kind by the company in two years, bringing total investment from Guardian in housing projects to approximately $6 billion.

The Cambridge project is expected to provide 320 new jobs over the next two years of construction.

On completion, Guardian Life will put up for sale super studios spanning 604 sq ft; open plan-designed one bedrooms with two full baths covering 965 sq ft and two-bedroom penthouses spanning 1,806 sq ft.

The company has included amenities including 24-hour security, elevators, coded main entry, back-up water supply, water heaters, stand-by generators, gym, clubhouse, swimming and a generous parking space.

Prices start at $20 million.

“We are committed to making our contributions to the economic growth of our country and to providing opportunities for our people to accomplish their goals,” President of Guardian Life Limited, Eric Hosin, said.

He noted that the company's investment in real estate is not only in keeping with the company's strategic objectives, but should be seen as a demonstration of Guardian's confidence in Jamaica's economy.

The launch of The Cambridge is said to be Guardian's response to a demand for top-quality, affordable housing in Kingston. Hosin disclosed that Guardian Life has plans to develop other properties in the New Kingston area.

In 2017, the company broke ground for the construction of the soon-to-be-completed The Hampshire, located on Comlin Bank Road. The Hampshire boasts a total of 66 units.


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