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Last Updated: Feb 13, 2017 - 1:45:37 AM |
Dozens of construction workers are working to keep the $70 million ONE Cable Beach luxury condominium project on schedule for a March 2017 completion date. Developer is Aristo, a success story in exclusive multi-family developments in what is widely considered a challenging real estate environment.
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Nassau, Bahamas - ONE Cable Beach, the $70 million ultra-luxury condominium project on West Bay Street, is on target for its scheduled March 2017 completion with every significant infrastructure and site preparation deadline met to date, the developer said today.
“We have a great team and have been fortunate that we have been able to meet every deadline we set even with all the rain we have been facing,” said Jason Kinsale, CEO and President of Aristo Development, the group behind the seven-storey, 69-unit oceanfront residential complex just west of Melia Nassau Beach Resort.
“All the footings for the foundation have been poured. More than 200 pilings have been completed and we are going vertical with the building this week right on schedule,” Kinsale said. At the peak of construction Kinsale expects ONE Cable Beach to generate about 150 construction jobs. Some 35-40 persons were on site when Mosko United Construction/Bahamas Marine was drilling and installing underground pilings. Greyco, also a Bahamian company, is doing concrete work.
While construction progresses on schedule, sales of the residences starting at well under $1 million continue to be brisk.
“We are close to 50% sold before the building comes out of the ground which is an excellent place to be,” said Matthew Marco, Aristo Sales & Marketing Director.* “The positive response to the offering, I believe, is a reflection of two factors – one is the reputation of Aristo. Every project that Jason Kinsale and his team have taken on they have delivered on, Hampton Ridge, Balmoral, all sold out with buyers actually requesting more.”
The second contributor, Marco believes, is a continually growing appreciation of The Bahamas.’
“I’ve been traveling quite a lot – New York, Washington, Miami – and every property show I go to when I say Bahamas I hear the same thing, ‘You mean there is still oceanfront available in Nassau?’ The interest in oceanfront is confirmation that our two-year search and negotiation for the perfect property was the right strategy. This truly is the very last spot of oceanfront in the area and the only future development that can take place along the northern coast will involve razing an existing structure. Whether you call it the Bahamian Riviera or Cable Beach, the reality is that it is a spectacular piece of shoreline that is hard to match anywhere in the world – close to conveniences and far from boring.”
Bahamian contractors are on site at ONE Cable Beach, a luxury condo project by Aristo Development just west of Melia Nassau Beach Resort, West Bay Street. Bahamian subcontractors include Mosko/Bahamas Marine and Greyco Limited. The $70 million development is generating up to 150 construction jobs. Even with rain delays, work is on schedule for a March 2017 completion target date. ONE Cable Beach has scheduled an open house at its sales office on the site Saturday, December 12.
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But ONE is not the only place Aristo applied the right product-right property, right price strategy and enjoyed success. Last month, it launched THIRTY | SIX, the first new condo complex on Paradise Island in years. More than one-third of the 38 residences in the three-storey building on Bay View Drive were reserved prior to the launch and there were additional sales at the launch event at Graycliff.
Kinsale also believes that Aristo’s commitment to distinctive architecture is making a difference. “We want our designs to make a statement and take advantage of the setting and surrounding without overpowering it,” he said. At ONE Cable Beach, that translates into a striking structure with curving balconies that almost appear to float. Kinsale has called it “organic and free-flowing, giving you an almost palpable sense of freedom, inspiration and pleasure.”
Residences at ONE Cable Beach range from $575,000 for a one-bedroom to $3,995,000 for the 3,900 square foot, 3-bedroom penthouse facing the sea. ONE Cable Beach features ocean and garden views, swimming pool, fitness centre, security, storm-rated windows and oversized doors, high ceilings, and quality construction with the finest in finishing details.
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