BOULEVARD Baptist Church and Jamaica Baptist Union have formed a joint venture that will invest $100 million to develop a town house complex on Kings Drive in Barbican, St Andrew.

King’s Manor Townhouse Development will be a gated community on just over half-an-acre or approximately 2,018 square-metres of land. It will feature five 2-bedroom and 2.5-bathroom units. The two-storey units, two of which have already been subscribed for, are each priced at $21 million each, subject to escalation.

Approvals have been granted by the Kingston and St Andrew Corporation (KSAC) and construction will begin in June 2013 and completed within 12 months, the developers said.

Hugh Reid, chairman of King’s Manor Townhouse Development Company Limited, said the project has so far received positive feedback.

“The feedback that we have been getting is that this is a good price point in terms of the marketplace,” Reid said, boasting that “it’s within the Barbican area, which is one of the better housing areas in St Andrew, and the units are in close proximity to major shopping centres and King’s House is just a stone’s throw away”.

Reid noted that another town-house development is currently taking place on Kings Drive, specifically located off Halifax Drive in Barbican, highlighting demand for housing in that area.

It’s the first such project for the Boulevard Baptist Church, said Reid, who is a member of the church. It may or may not be a one off venture, he said.

“We decided that it would be good to make a small contribution to the housing stock and in fact to improve the housing stock on Kings Drive,” Reid told Sunday Finance.

“What you will find is that the extent of our involvement would be based on the success of this particular venture. We will see how that goes,” he continued, noting that “We are confident that God is on our side.”

The size of each lot is 1,630 square-feet. Each unit features two designated car parking spaces, a garden area, a patio area and an internal laundry area with adequate space for washer-dryer, the development company said.

Other amenities include a separate powder room on the ground floor; a large master bedroom with full bath and walk-in closet; a kitchen fitted with solid surface countertop and adequate storage facilities; dining area and living area opening on to a patio and a guard house.

A 25 per cent deposit is required on signing of agreement. The contractor on the project is Surrey Paving and Aggregrates Limited.

Meanwhile, Reid noted that the Boulevard Baptist Church takes a holistic view to the development of its members.

“For example, I am chairman at the church for the Financial Education Ministry, a relatively new ministry which seeks to speak to financial matters, to educate members of the prospects of the wider economy as well as their own financial prospects,” he said.