WIHCON floats Chester Creek, gated community in Portmore
Published:Sunday | February 18, 2024 | 12:13 AMAvia Collinder - Business Writer
WEST INDIES Indies Home Construction Limited (WIHCON) is building a new gated community in Westchester, Portmore, St Catherine named Chester Creek. It is to be composed of four phases of residential and commercial properties on 23 acres of land.
On completion, Chester Creek will feature 328 town homes. In the first phase, which is set for delivery this year, the townhouse units are priced at $29.95 million each.
Less than 50 per cent of the acreage, 42.8 per cent, is residential. The remainder comprises open space, roadways, and areas for social services.
The development is inclusive of community centre and day care, netball court, football playfield and stands, playground, National Water Commission utility lot, clubhouse and pool, commercial centre, church and a community park featuring a gazebo, jogging trail, exercise stations and park benches.
WIHCON’s CEO Marvin Campbell said that the cost of the development is “several billions”.
“Phase 1 is being sold for $29.95 million. [However], prices are subject to certified escalation.
“Several billions of dollars are being invested in this development. Phase one is almost fully sold out, we only have a few units left,” he said.
Campbell noted that while almost all units in phase one are already spoken for, the other phases will be delivered over the next two years.
Delivery date for the units in phase one is before Christmas.
On average, WIHCON provides 1,000 units annually, but Campbell wants to triple that to 3,000 units by 2024.
The company does not do high-end homes, its CEO stated. Its target is low- to middle-income developments, for which prices range from around $8 million to $30 million.
WIHCON spends some $6 billion annually on its developments. Campbell previously noted that it typically takes two to three years to complete a development, which may either be townhouses, detached homes or apartment complexes.