The Jamaica Mortgage Bank is preparing to enter the luxury one-bedroom apartment market, a move that contrasts with the traditional mandate of financing housing solutions for lower and upper middle income families.
The bank will provide financing for The Aviary, a boutique hilltop development in Kirkland Heights in St. Andrew.
The 18-unit project will comprise one bedroom suites, priced at about US$335,000, or roughly J$52 million, and deluxe studio units starting at US$236,000 or about US$37 million.
Developer Kirk Goss of Grand Concepts Property Holdings says the project is not focused on volume, but on delivering value through location, scale and careful execution.
The development is being marketed to investors, returning residents and diaspora professionals seeking a property in a cool, quiet community, located about seven miles from the foot of Red Hills.
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