Multi-Million Dollar Projects Underscore Promise to Cayman

Today’s opening of the new $40 million Foster’s grocery store at Camana Bay fulfils a long-held vision to open a supermarket in the Town Centre. Discussions with the Foster family began more than a decade ago, with Dart and Foster’s selecting Emeritus Drive as the location for the 60,000 square foot flagship store in 2017.

“Introducing the very best, full-service supermarket that provides a superior shopping experience and can accommodate the anticipated growth of Camana Bay is a natural evolution for the Town Centre,” says Justin Howe, Executive Vice President Asset Management & Development Planning at Dart. “Our long relationship with the Foster family and its unparalleled history, being better because they care, in supplying the local community with quality goods make this the ideal partnership for Camana Bay.”

The design team at Dart worked closely with Foster’s management team to ensure the new building met its specifications and supported the company’s vision, with plans undergoing several revisions to prioritise the needs of the customer, now and in the future.

The new supermarket includes features that promote environmental sustainability, a hallmark of Camana Bay building and design. This includes an array of solar panels on the roof that can generate 250 kW of electricity and a dedicated recycling centre. Aligning with Camana Bay’s commitment to creating a walkable community, a wide pedestrian path connects Foster’s to the rest of the Town Centre’s shops, restaurants and offices.

The opening of a modern supermarket of this quality is another infrastructure improvement for Grand Cayman, making everyday life easier for visitors and residents.

$120 Million Under Development

Including Foster’s, Dart currently has more than US$120 million of sustainable development projects underway. The expansion at Cayman International School, the town’s first for-sale residential community of OLEA, and plans for a new commercial office and for-lease residential building at Camana Bay, indicate Dart’s continued confidence in Cayman as a jurisdiction.

“We are building for the future,” says Howe. “The current projects in the pipeline support our vision to enhance the quality of life, place, opportunities and experiences for residents and visitors alike and we’re thrilled that many of these developments are done in partnerships with local companies that share our vision.”

The US$60 million CIS expansion is the result of an ongoing partnership between Dart and CIS since the school’s opening at Camana Bay in 2006. As demand for places was outpacing supply, especially at the primary level, the priority was to create additional capacity and increase access to top quality education at CIS. With the first half of the expansion complete, the school welcomed 160 new students to its early childhood campus this fall, and will almost double its current size and capacity once the 87,000-square-foot high school is open in late 2020.

“The leadership and faculty team at CIS came to Dart with their vision for the next phase of the Camana Bay campus and we are working together through each step of the development process to ensure their needs are met,” says Howe. “CIS act as specialist advisors on the pedagogy and programming, while we provide guidance in keeping with the holistic principles that are hallmarks of Camana Bay, emphasizing sustainable design that is of the place, connectivity and universal access.  We are proud to have worked with more than 15 different suppliers and 40 local contractors on the first phase of the project.”

As a logical next step in the master planning of Camana Bay, for-sale residential fills a gap in the market for those who want to live in the amenity-rich environment. The sustained interest in leasing at The Terraces at Camana Bay, which frequently has a waiting list, shows the demand for this type of residential offering.

NCB Group, a well-respected local respected developer with experience in building residential communities, approached Dart with their desire to build more homes in the Seven Mile Beach corridor, especially along the canals. With Dart providing the land and NCB managing the construction, the end result will be OLEA, the first for-sale residential neighborhood in Camana Bay.

 “As Camana Bay’s first for-sale residential offering, OLEA delivers on a promise that this is truly a place where you can live, work and play.” said Howe. “The combined expertise, experience and commitment to building quality, sustainable developments of Dart and NCB will ensure the success of OLEA.”

With Camana Bay almost fully leased for both Class A office space and for lease residential units and sales going strong for OLEA, planning applications were recently submitted to meet the demand for residential and commercial space with two new buildings at Camana Bay.

To date, Dart has invested more than US$1.5 billion in development in the Cayman Islands and the team says the sustainable projects, both underway and planned, are testaments of continued commitment for generations to come.