UDC advances search for Caymanas housing partner
The Urban Development Corporation (UDC) has advanced its search for a joint venture partner to develop lands that form part of the Caymanas Estates Development Area (CEDA) into housing solutions.
Nearly a year after issuing a request for expressions of interest on the development lands, the state agency said that as of Tuesday, November 28 it will begin accepting proposals from qualified individuals or entities wishing to partner on a joint venture agreement for the development of the lands, which are estimated to be 132 acres in housing solutions.
In a public notice on Sunday, the UDC said it will accept proposals from individuals or entities with “adequate financial capacity and a demonstrated track record in housing development as well as primary infrastructure development”.
The request for proposal process will run until Friday, February 16, 2024.
The refreshed call comes just months after the UDC received approval from the National Environment and Planning Agency for the subdivision of roughly 108 acres of Caymanas Estate lands, all of which are slated for light commercial development.
Overall, the Caymanas designated area comprises 10,703 acres of which approximately 46 per cent has been earmarked for various types of developments, including mixed-income group residential solutions, light industrial, commercial, institutional, and recreational uses.
CEDA is located west of the city of Kingston, east of Spanish Town, and north of the Portmore Town Centre and was designated for development in 2009 under the UDC Act. It is divided into seven blocks, six of which are slated for “high-end” mixed-use residential development.
Block 1 is designated for development as commercial property.
The UDC says the development can yield over 1,200 housing solutions within blocks 2, 3, and 7.
New Era Homes 2000 Limited is the first developer to seize the opportunity created by the UDC in the area after the real estate company partnered with UDC to build the Caymanas Country Club Estate Housing Development in 2013. Some 678 housing units were said to be developed under the project.