Article Snapshot
- Construction began late last week on OLEA, Camana Bay’s first for-sale residential community.
- Over 50% of the properties have already been sold. Construction is on the units is expected to be finished in a little over a year.
- Prices range from $600,000USD to $2 million.
- When completed, it will feature 124 residences, a resort-style pool, outdoor dining area, fully-equipped gym, a community garden and even a “lazy river.”
- It will also be host to the energy-efficient appliances, water-conservative plumbing, geothermal cooling, LED lighting and – to the excitement of many buyers – the largest solar array in Grand Cayman.
- The development is attractive to those with school-age children, as it will allow students to walk or bike to school in Camana Bay without being forced to navigate dangerous traffic.
- The highly anticipated project is being developed by Dart Real Estate and the NCB Group.
Cayman’s Newest Community
Construction began late last week on OLEA, Camana Bay’s first for-sale residential community located near Cayman International School. A mixture of condominiums, duplexes and townhouses, the units will range anywhere from one to four bedrooms and will cost between $600,000USD and $2 million. The highly anticipated project is being developed by Dart and the NCB Group.
Over 50% of the units have already been sold, despite the fact that construction on the units alone is expected to take at least a year. According to Mike Stroh, project architect, people will continue to see “a lot of intense work” on the project for the next few years. An official date for completion has not been released.
Emphasis on Efficiency
When completed, the development will feature 124 residences, a resort-style pool, outdoor dining area, a community garden, outdoor gym and even a “lazy river.” The river will run around the pool area. Special considerations have been made to ensure that the design of the project is appealing to both adults and children.
According to NCB Group Managing Director Matthew Wight, the new community will also be host to the energy-efficient appliances, water-conservative plumbing, geothermal cooling, LED lighting and – to the excitement of many buyers – the largest solar array in Grand Cayman.
Wight noted that the “ […] two alternative energy sources, when combined with ICF construction, LED lighting, ISO compliant and low U Factor windows, an irrigation cistern, and sustainable building materials, will make OLEA an extremely energy efficient community.” Many people hope that this development will become a blueprint for future eco-friendly and energy-efficient projects in Cayman
Ideal for Students
According to Dart Real Estate President Jackie Doak, the development is especially attractive to those with school-age children, as it will allow students to walk or bike to school in Camana Bay without being forced to navigate dangerous traffic. Parents that work in Camana Bay will not only benefit from a shortened commute, but a more prevalent sense of community as they are given more frequent opportunities to engage with members of their community.