Cayman Kai will soon have a new resort, located on the beachfront peninsula at the end of Water Cay Road, just past the Kaibo restaurant and marina. The condominium resort will be named ‘Ivory Sands’. It will be a low density development and will have a low profile, being only two storeys in height.
This development has been re-engineered from the original plan. It will now consist of mostly beachfront two bedroom condominiums, with some beachview two and three bedroom units, set slightly back from the beachfront. The reason for this revision was to get prices into a market range that was more affordable for local residents, as well as overseas visitors, while reflecting the realities of current market conditions.
Prices start at very low penetration pricing levels, in order to generate sales momentum in this difficult market. Sales and construction will be in two phases. In the first phase, a two bedroom beachview is from just US$499,000; a two bedroom beachfront is US$550,000; and a three bedroom beachview is US$615,000. Sales prices will need to increase as construction starts and should rise substantially throughout construction of both phases. Capital appreciation, due to these low starting prices, should be substantial.
The site itself is a magnificent peninsula of beach frontage jutting out into the Caribbean Sea, affording stunning panoramic views of the turquoise waters in the Sea and North Sound. With approximately 1400 feet of white sandy beach, the sea and sand vistas are hypnotic. This is truly a very unique location. The offshore reef, with white water waves breaking over it, not only provides a natural protection to this site, but also presents a calming respite to all the various hues of blue. You can moor your boat right off the beach or arrange docking at the Kaibo, just a few minutes walk away.
Approximately 90 condominiums are slated to be developed. The resort will be situated on over 8 acres of land. Because it is a very low density development, a strategically landscaped beach environment is being planned to create an “oasis effect”. From the water, it will appear as if you are arriving at a sanctuary of lush landscaping and continuous beach with some low level buildings, only two stories high, almost hidden amongst the greenery.
Facilities and amenities include a large swimming pool and sun deck area, fitness facility and spa, tennis court, and management/rental office. The property will provide onsite management and a rental program for tourists and visitors looking to discover a different Grand Cayman from what is available on Seven Mile Beach.
As unique and attractive as is the location, the condominiums are also equally spectacular because of the high quality finishes. Plans call for granite countertops, travertine tile floors, crown molding, 8 foot sliding doors, Kohler fixtures, among other high end finishes.
From these beachfront residences, you can walk all the way around Cayman Kai along its soft, coral sand beach. The Kaibo restaurant and bar is within walking distance and is a popular attraction, as is the Rum Point Club with its fine dining. The Cayman Kai area is comprised of upscale residences, mostly single family, so it is peaceful, quiet, and very safe. Stingray City and the sandbar are a short hop away by boat.If you have ever wanted to own a vacation home in Cayman Kai, but did not want to worry about the upkeep of a house on the beach, Ivory Sands will give you the best of both worlds – a beachfront residence with all the facilities, amenities, and rental income, yet with none of the worry or maintenance concerns of a house.
Presales are now starting.