Young developers take on $600 million housing development
From L-R: Ike Johnson, Sygnus Co-founder; Matthew and Danielle Donaldson developers and David Cummings head of Sygnus Group real estate during a groundbreaking at the property recently.
At 33 and 30 years old respectively, the husband and wife pair of Matthew and Danielle Donaldson is not just your normal couple. Far from it.
They are two of Jamaica’s youngest and most promising developers who so happen to be undertaking what they are calling “their biggest and most ambitious project” yet - a $600 million luxury housing development project in Ironshore, St James.
With construction underway since September 2019, the fast-rising duo has earmarked January 2021 or “the first quarter of 2021” for the completion of a 27-unit luxury complex, comprising of 24 condos and three villas, which they have dubbed “Surreal at the Sugar Mill.”
“This project will not only transform the Ironshore area but also the entire elegant corridor of Rose Hall,” Matthew noted.
“It will consist of two-three bedroom town-homes and 24 - one and two-bedroom condos. Residents will be greeted by a boulevard of scenic landscaping, a contemporary guardhouse and a modern gated entry. The town-homes are spread over three floors with over 2000 square feet of living space with three bedrooms and 3.5 bathrooms."
Matthew said that “floor to ceiling windows” will allow for adequate natural lighting, framing a beautiful view with an outdoor feel.
An artist's impression of the development that is being funded by Sygus.
Each unit, he added, will also have its own lap pool. It must also be noted that all penthouses come with their own little outdoor terrace and a soaking Jacuzzi tub on the outside.
Matthew, in the meantime, added that while this will be their biggest project together as a team, the pair has done build-out work in the business process outsourcing sector (BPO) for companies such as Vista Print and Market Track, adding that he has also done concrete work for hotels such as Hyatt, DeCameron and RIU Resorts.
“My family has been in the construction business for over 25 years but this is our seventh year together as a team,” he further explained.
“This is by far our biggest and most ambitious project yet…one that is both daunting and challenging…but also very exciting. We are giving homeowners a secured gated community with 24-hour security, CCTV and other high-end amenities."
He said the high-end residential complex couldn’t find a better home than in the Ironshore, Montego Bay area, noting that the 1.4 acres of land on Sugar Mill Road is located a stone's throw away from the Sangster International Airport and close to the popular Whitter Village shopping complex.
“The Freeport area and other locations in that direction have become heavily saturated so the action is really out in the Ironshore/Rose Hall side,” Matthew added.
“We are also in striking distance of some of the finest and most luxurious hotels in the country. We are located on a golf course facing the beach and with an ambience to die for.”
Matthew said that while he and his wife were the only partners in the venture, he has to make mention of some of the key persons that “will be making this dream” a reality.
Sygnus Real Estate Finance has placed its weight behind the development; while Kinetic Engineers are the contractors on site, with Rudolph Edwards and the RECPM team leading the project.
Danielle noted that prices will start at US$197,400 for the one-bedroom units and will go up to as high as US$567,000 for the more expansive condos and villas.
She said buyers being targeted for the complex include families who are acquiring a high-quality property in a desirable neighbourhood in western Jamaica; as well as investors looking for a good return on their investment.
“We are also targeting corporate organizations that are interested in renting/leasing or acquiring their own property/properties; and foreign investors who are interested in owning vacation homes in Jamaica,” Danielle added.