BASSETERRE, St Kitts (CUOPM) -- A new US$50 million residential villa development has been announced for the Southeast Peninsula in St Kitts.
Christophe Harbour Development Company and Apex Capital Partners Corporation, a Canadian-based international investment group announced on Tuesday they have entered into a joint venture to develop a new residential neighbourhood within Christophe Harbour, the residential resort community located on St Kitts.
“The project is set within the existing Sandy Bank Bay community and allows for the development of 50 new, two-bedroom residential villas with a value of approximately USD $50 million at full build out. This agreement adds to the already positive outlook for Christophe Harbour with several projects currently underway this year,” a statement said.
"The future of St Kitts is very bright, and we are excited to partner with Buddy Darby on a project that is moving forward in a country that understands the value of what we are trying to build," said Nuri Katz, president of Apex Capital Partners Corporation.
"The opportunity to work with Christophe Harbour, which is supported by the successful developer in Kiawah Partners, gives us the confidence to believe we will have a long-lasting relationship working in St Kitts."
With Christophe Harbour poised to have its most successful year since the project launched in 2008, this joint venture is further proof that there is belief in the long-term vision of Christophe Harbour as well as St Kitts.
Apex Capital Partners Corporation, which will lead the new development called Ocean Grove, will work with Christophe Harbour’s design team based in Kiawah Island, South Carolina and Bennett Hofford Construction.
Together they will design the 50 turn-key, two bedroom villas which will incorporate 1,500 square-feet of interior and exterior living space. Owners will have the opportunity to apply for St Kitts citizenship and experience the lifestyle amenities available at Christophe Harbour.
"New investment like this has a tremendous positive impact on the Federation and we should credit the government for continuing to encourage private enterprise in St Kitts and Nevis," said Bill Lee, chief operating officer, Christophe Harbour. "All those who care about the future of St Kitts and understand the importance of projects like Christophe Harbour, should see this news as overwhelmingly positive and exciting."
The Ocean Grove development is slated to offer villa sales beginning in the third quarter of 2013, with construction slated for the end of the year.