A new US$100 million luxury mixed resort-style residential development is coming to Montego Bay, which will provide some 300 jobs for Jamaicans.
Ground was officially broken on Friday (Oct. 21) for The Vista, which will be situated on Jimmy Cliff Boulevard popularly known as the ‘Hip Strip.’
The project is a joint venture between C and H Property Development Company and MoneyMasters Real Estate and Infrastructure Investment Limited.
The partners have established Vista Montego Bay Resorts Development Limited as a special purpose vehicle (SPV) for the project.
Minister of Tourism, Hon. Edmund Bartlett, in his address at the groundbreaking, commended the developers, both of which are local entities, for investing in the island.
“There is no happier Minister today [than me] to see a local, homegrown Jamaican rock-bred man and woman investing in tourism at this time…. I love to see when Jamaicans invest in our industry,” he said.
The Minister said that Montego Bay “is going to be the most significant tourism centre” in the region over the next five years because of the developments that are planned for the city.
“Half of [the projects] we are not ready to disclose, because we are still working on designs, still working on geo technical feasibility studies and so on. What I can say to you, is that this Administration is satisfied that Montego Bay has the potential for transformation into a resort town development, the likes of which does not exist anywhere in the Americas,” he noted.
Construction of The Vista will be undertaken in phases over 48 months.
Phase one will include the development of 30 units consisting of one-bedroom and two-bedroom suites, lofts, as well as penthouses.
Phases two, three and four will all include residential and commercial spaces. Each tower will have studios, one-bedroom and two-bedroom suites, as well as approximately 10,000 square feet of commercial space.