The highly anticipated Apes Hill Golf Club Course has now been officially opened. This follows an opening ceremony held at the multi-million St. James property earlier this week.
At the event Prime Minister David Thompson welcomed the opening of the sporting facility, saying it was destined to be the island’s latest tourism “jewel”, but he cautioned that Government would not be developing the island “at any price”, and not at the expense of agriculture and housing.
Thompson was speaking shortly before cutting a ribbon to officially open the new St. James facility, which after taking four years to finish is already being called one of the best in the world. The lush 18 hole golf course could become a major feature for golfers in the Caribbean and beyond.
But according to developer and construction magnate Sir Charles Williams there has been a dip in the sales of residences at the development. He told the media, that sales have decreased, but here in the last three or four weeks we have seen a tremendous difference to last year and to the early part of this year. Looking at the upcoming tourist season, Sir Charles said, “there are serious, serious punters in the market now and the first house has been started and we have reliable information that another four will be started in January. We have also organised a temporary club house, but the permanent one is going to be fantastic.”
The media also reported that he was also confident that the quality of the golf course designed and developed by American company, Landmark Land Company, would “bring a lot of people; there are no ways about it”.
The developer was also happy that the project had been able to provide jobs for many people and said those involved had gone all out to ensure the environment was not harmed.
One of Barbados’ leading realtors is arguing that the greatest potential for redevelopment on the island lies with Bridgetown and Speightstown.
Paul Altman, Managing Director of Altman Real Estate Services in a self-penned article entitled “The Next Development Wave – REDEVELOPMENT” points to a number of areas in the city that would serve as catalysts for further development and that would greatly add to the property development that already exists.
Altman like many others believes that the Boardwalk in Bridgetown around The Careenage has vastly enhanced the area.
But he points to a major development project which has been on the cards for over a decade as a project which must be started. He says, “The PierHead project must get started – This project on its own has the ability to kick-start the entire redevelopment of the town and especially to wake up development of the entire Carlisle Bay area. It must get started!”
The well-known property developer explains that if it had been implemented ten years ago, it would have been completed today. He adds that the master plan was prepared some thirteen years ago. Moreover Altman argues that the old buildings standing along the PierHead are begging to be rescued and the start-up funding required is totally affordable.
Putting the focus on the historic parliament buildings and the older buildings of the city the experienced property developer notes, “Our Parliament Buildings remain the focal point of our main city. Hincks Street has, to some extent, been rescued but it lacks life; and an attempt to open up the waterside of Carlisle House into a public mini-park provides a taste of the huge redevelopment opportunity for the adjacent car park.”
However he argues that the careful redevelopment of the Old Spirit Bond is unfortunately lost – it is not visible from Broad Street and too close to the very busy Careenage Road for any traffic (foot or motor) to access easily. The Old Empire Cinema’s restoration promise has now past its last reality check and must happen before the building deteriorates further. There are Developers who would be interested in getting involved and the best approach would be a public/private sector partnership.
According to Altman, in Bridgetown, the areas of primary interest for redevelopment stretch along the waterfront from the Bridgetown Port to The Hilton. Of course the idea of extending the port by creating an island remains a viable and significant project on its own. Carlisle Bay Beach is by far the best expanse of beach on the island. Anchored by the Hilton at one end and the PierHead at the other, this stretch has endless potential.
He also contends that Government incentives exist under the Special Development Areas Act and its “action” arm, under the Barbados Tourism Investment Inc and is capable of leading this effort.
Barbados real estate has been maturing at a consistent pace over the last 15 years and one of the island’s leading realtors has noted that the time has come for mix use properties to become more formidable in the real estate game.
Paul Altman, Managing Director of Altman Real Estate Services, has highlighted that mix use developments could be the way forward for property development in such a market.
With the island’s west coast littered with condominium and townhouses, and the south coast now taking shape and attracting similar developments, the most logical question becomes, what’s next?
In a self-penned article entitled, “The Next Development Wave – Redevelopment” Altman presupposes that further potential of the sector stands with redevelopment and the areas that present good opportunities for this are Bridgetown, Holetown, Oistins and Speightstown.
Altman notes one of his major development projects that is currently taking shape as a notable project that is a mix use property. According to the experienced realtor, “The first real Town Project is underway in Holetown and offers the “live”, “work” and “play” theme. Although not a re-development, it captures the essence of urban revitalization.
He explains that Limegrove will be a mixed-used development when it opens at the end of 2010. It will be the first development to offer townhouses as a part of its varied “built” product. These will be townhouses as they are really meant to be – in a Town.
It is explained in the article that the designs of Limegrove’s 12 commercial buildings borrow from the island’s vernacular architecture. The benefits of urban redevelopment will be all spelt out at Limegrove.
A resident could live there, work there and play there without ever needing to use a vehicle.
Indeed the idea of mix use properties in Barbados, does not simply stop there , as one other development has already been completed in recent months and the other has 2010 deadline, also fill that gap.
Somerley, located in Worthing has been described as a unique offering, as the property has an the ease of ownership. That ease of ownership comes with the common property actually producing income.
The income and uniqueness is held with the property being home to both residential and commercial clients. Somerley will house 14 residential units but more interestingly it will be home to a retail bank and other commercial offices. This concept is one of the first for Barbados but it is very popular across the globe. Mallalieu explained has explained to the media, “Because of the mixed use concept what is unique for the residential owners is that each apartment owns a share of the ground floor commercial space. Most people understand when they buy a condominium that they own a share of the facilities but that means they own a share in the expenses because the pool costs money to run. However in this case not only do you own a share in the common property but the common property actually produces income.”
