Is this the hottest new property in Cayman?
Ground has been broken on what is being described as soon to be " one of the most highly sought-after locations in Grand Cayman".
Its investment partners say ONE Canal Point was conceived in response to a need for both affordability and convenience in one of the most popular locations on Grand Cayman.
Prices start at USD$600,000 and 50% of the waterfront development has already been sold.
Early Tuesday, the development and sales teams of ONE Canal Point, along with General Contractor Warren Greene, held an official groundbreaking of the condo and townhome community.
"We envision ONE Canal Point to be one of the most highly sought-after locations in Grand Cayman. Residents will have the luxury of being able to access the North Sound from their canal-front properties while only being a few minutes walk from the world famous Seven Mile Beach.
"The resort-style amenities envisioned by the developers and Gensler’s architectural designers will be brought to life by Warren Greene’s construction team and residents will enjoy a luxurious living experience in an indulgent, aesthetically elevated community," said Chad Horwitz, Warren Greene Director/Project Controls Manager.
From the sleek, modern design by world-renowned Gensler architectural firm to extensive resort-style amenities, ONE Canal Point encompasses luxury living within the reach of a range of buyers.
Commuter-friendly one-bedroom condos offer convenience to the frequent traveler while spacious three and four-bedroom townhomes provide room for growing families or hosting guests.
There will also be two and three-bedroom condos with the choice to add den space and private plunge pools.
Innovation toward sustainability and wellness-promoting features are also a key factors in the community’s development. ONE is the first island project to include a dog park in its scheme, elevating the standard of a pet-friendly community.
During clearing of the site, more than 300 non-invasive trees were saved for a nursery as part of abundant greenery throughout the neighborhood. Each unit comes equipped with environmentally-friendly features and are solar ready.
“We are so excited to execute on a vision more than a year in the making,” said the development team. “ONE is an amenity-rich community built around outstanding water access and views at an attainable price point.
"We are fortunate to build it within the most prestigious gated community in the Seven Mile Beach Corridor. We can’t wait to welcome ONE residents into their new homes as we complete this project .”
Property buyer Matt Wilkinson, who was at the groundbreaking, is among the first to secure a residence at ONE.
“For me this is all about community. Ultimately you choose a new place, either a home, vacation property or even an investment because of location and community. The location is stellar being moments from the beach and Camana Bay.
"I think the friendly and easy-to-integrate nature of the community and people of Cayman make it a simple decision,” said Wilkinson.
Buyers who secure the land contract before December 31 will benefit from tens of thousands of dollars in stamp duty savings on certain units.
ONE Canal Point will occupy a five-acre site along Canal Point Drive, with each residence positioned to take advantage of water views. A boardwalk with docking will border the 900 feet of canal frontage.
The townhomes are scheduled for completion in January 2021 with condos finishing between April and August of 2021.
As of this publication, 50% of the development has been sold.
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