Old Forum Hotel redevelopment enters third phase

Real estate developer of Bay Front Villas and Apartments in Portmore, St Catherine, Richard Lake, has broken ground on a 24-apartment complex to be delivered by September 2023 under phase three of the development.

The new complex, to be called the The View, follows the delivery of some 210 units on the 16-acre property which was purchased for $350 million in 2015 by another of Lake’s companies, Portmore Marina Development Limited, from the Urban Development Corporation.

The property once housed the old Forum Hotel which opened for business in 1973 as Adventure Inn Hotel. The 11-storey, 200-room hotel ceased operating 38 years ago, but, over the years, has been leased to several organisations. It was last leased to the Jamaica Christian College, up to 2005, before being placed on the market by the UDC in March 2009.

So far, Portmore Marina is said to have spent roughly $2 billion on the project with financing from JMMB. But details of the cost for phase three was not disclosed up to press time.

Project Manager Gina Harrison said on Friday that the apartments will span two blocks and encompass one, two and three-bedroom units.

The complex, which sits beyond the town centre of Portmore in St Catherine, overlooking the beach, is expected to rise to three storeys.

“We had very good responses to the other two phases of the development and so for this one we’ve decided that we do not need to go to market early. Even without advertising, we’ve already secured commitments for four of the apartments,” Harrison said.

After the completion of The View, Portmore Marina Development will pursue a fourth phase of the development to be called Port Henderson Landing. The idea, Harrison said, is to create a space for commercial and recreational activities that play on the property’s history and beachfront view.

“’We are looking at several ideas, some of which we’ve already discussed with the authorities and so now we are trying to get government buy-in. We’ve been toying with the idea of creating something like Water Lane in downtown, Kingston — a place where persons can sit and enjoy the scenery while having Devon House ice cream,” she said.

Details regarding the size of the Landing were not disclosed.

Aside from projects in Portmore, Lake is also looking to undertake a 10-storey residential development in Kingston, which Harrison says will come to market at “uptown prices”. Groundbreaking on that development is planned for March 2024.

“That’s what we are calling a greenfield project for now. We just got approvals from the National Environment and Planning Agency, and so all we need now is that stamp of approval from the Kingston and St Andrew Municipal Corporation,” she said.

“That approval is expected at the board meeting in November or December, but that’s really all I can say for now.”

Meanwhile, Lake is looking to sell 65 lots in the developing community of St Jago Hills in Spanish Town, St Catherine through Island Homes Development Limited. The company is still working through the pricing of the lots, but expects to start marketing them in December to mid-January.

“We recently received the titles for those properties and the Jamaica Public Service has committed to getting the electricity in place by year end, and so we can begin to enter into sale contracts soon,” Harrison said.

karena.bennett@gleanerjm.com