PROVEN REIT launches Mandeville mixed-development project

PROVEN REIT launches Mandeville mixed-development project

Sunday, February 23, 2020

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Real Estate Investment Trust (PROVEN REIT), the real estate investment subsidiary of PROVEN Investments Limited hosted a launch event for the “first of its kind'”iconic mixed-use development to be situated in Mandeville in the parish of Manchester.

The nine-acre property located at Bloomfield Park will be a residential and commercial entity which the developers have said will carry amenities to enjoy work, leisure, and life in one location.

AVISTA at Bloomfield will be the residential masterpiece, designed by Vidal Dowding and his team from Atelier Vidal, located on a hill and carrying a beautiful view of the town.

The meticulously designed apartment complex made up of 78 units will host 40 studio units, 20 one-bedroom units, and 18 two-bedroom units along with superb amenities such as a heated swimming pool, jogging trail, and a fitness centre with each unit also having access to its own balcony.

“The commercial arm— Bloomfield Park — will be situated on the flat and residents will have access to professional and BPO offices, leisure and entertainment spots such as restaurants and retail stores with separate entrances for both — the residential being on Perth Road and the commercial on Greenvale Avenue,” a release informed.

Aisha Campbell, PROVEN REIT CEO shared that not only has the top floor been sold out, but that 30 per cent of the units have been placed on reserve.

“The feedback and excitement have been amazing; we are excited to make history and to do so in beautiful Mandeville and in Bloomfield Park,” she expressed in elation.

Mandeville's Mayor Donovan Anthony Mitchell who was also present at the launch welcomed this type of development to the parish capital.

“This represents more jobs, more businesses, and an enhanced economy in the town of Mandeville,” he told the audience.

The development estimated at a cost of $12.74 billion with approximately $3 billion from PROVEN REIT is expected to transform the Mandeville landscape, providing a neighbourhood built for convenience and suited for people who want to live just outside of the hustle and bustle of the town.

Carlton Earl Samuels, group chief development financing officer at JN Bankl who was in attendance also told the audience gathered that his company will be providing up to 97 per cent financing, allowing anyone desirous of living at AVISTA the opportunity to do so for as low as $90,000 per month.

Partnering in this development with PROVEN REIT are the National Housing Trust (NHT), Jamaica National Bank and Stewart's Automotive Group - Mercedes-Benz Jamaica.

— Kellaray Miles

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