Bogue Village houses going fast
WESTERN BUREAU — More than 200 persons have so far made deposits totalling $37.5 million towards the purchase of houses in phase one of the Gore Developments housing project at Bogue in St James.
Terrence Myrie, the manager for Gore Developments Limited’s Montego Bay branch, told the Observer Wednesday that he was pleased with the response of the prospective home owners to the project.
“Sales have been going on quite briskly, we are averaging about seven persons coming in (to the office) per day to make deposits,” Myrie said. “The response is overwhelming, Montegonians are really showing that they need our houses.”
He said, however, that there are still another 192 houses available.
Gore Developments plans to construct 1,623 houses in the Bogue area of Montego Bay over the next four years — a move that will essentially create a new village on the south-westerly outskirts of the city.
Actual construction of the 680-square-foot, two-bedroom homes will not begin until September and the first units will not be delivered until December.
The development, to be done in five phases, is to be built on lands formerly owned by the Kerr-Jarrett family. It is to be known as Bogue Village, and will be Gore’s first project outside the Corporate Area and St Catherine.
Phase one consists of 392 units and is expected to be completed within 18 months.
According to project manager, Ilan Peleg, 20 houses will be handed over in December and after that time, between 25 and 30 will be handed over each month until the target of 392 is reached. Each unit is being sold at a cost of $2.5 million and will be constructed on 3,500 square feet of land.
Myrie said prospective home-owners are asked to pay a deposit of $187,500, which represents seven and a half per cent of the cost of a unit. He said when the deposits are received prospective home owners are required to present a job letter, or their last two pay slips, proof of identification, taxpayer registration number (TRN) and their NIS card.
“After this is done, the prospective home owners can now apply to the mortgage institutions for the balance of the money to pay for the units, or pay the balance in cash,” Myrie said.
