Friday 18 October, 2019

Proven to break ground on mixed-use property in Mandeville this year

Dubbed Bloomfield, the development will feature 79 apartment units and up to 30,000 square feet for a business process outsourcing facility and retailers.

Dubbed Bloomfield, the development will feature 79 apartment units and up to 30,000 square feet for a business process outsourcing facility and retailers.

Proven Reit is set to break ground on a new mixed-use real estate development in Mandeville this November. 

Dubbed Bloomfield, the development will feature 79 apartment units and up to 30,000 square feet for a business process outsourcing facility and retailers. There will be another 300 to 1,200 square feet of customizable floor space.

Bloomfield is set in a relaxed and sophisticated environment, encouraging family and friends to connect while catering to the occupational needs, Proven Reit said in a release. 

Construction for the residential component with 40 studio apartment units, 20 one-bedroom apartment units and 18 two-bedroom apartment units is expected to be completed in 18 months. So too will phase one of the commercial space. 

The Bloomfield residential amenities extend to include 24-hour security, fitness centre, clubhouse and ample parking.

Construction for the residential component is expected to take 18 months.

"Designed to integrate residential, commercial and entertainment for a lifestyle of convenience, this development is set to transform the landscape of Mandeville,” said Aisha Campbell, CEO Proven Reit.

Aiming to deliver on the current and future needs of this discerning community, PROVEN REIT canvassed the local and international environment and scoped potentials to identify that single most desired residential and commercial requirement. The findings show a lifestyle of convenience; a need for a functionally integrated living space that blend residential, commercial and entertainment uses, Proven said. 

There is now a "value shift” away from the brick and mortar to the service aspects of real estate, Campbell noted.

Proven Reit further noted that the with changes to the town and city planning regulations, increase in National Housing Trust mortgage sum and a general reduction in interest rates by lending institutions – opportunities in real estate are there for the picking. 

 

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