OLEA welcomes new homeowners in a series of historic firsts for Camana Bay

June 3, 2021News Releases

Camana Bay—the only New Urbanist community in the Cayman Islands—continues to fulfil its master-planned vision as it welcomes homeowners to the town’s first for-sale residences, OLEA, which completed construction of phase one this month. Developed by Dart Real Estate, the 685-acre town is also achieving several historic milestones, which include the addition of two 10-storey buildings, 60 Nexus Way and Kapok, and the first Cayman Islands building to be built to the prestigious Fitwel certification standards.

OLEA
Winner of the 2019-2020 International Property Award for Best Sustainable Residential Development in the Americas, OLEA’s first residents will begin moving into their new homes in the coming weeks, marking the beginning of a highly anticipated chapter in Camana Bay’s history.

“This is a fulfilling achievement,” said Dart President Real Estate Asset Management Justin Howe. “It’s an important part of Dart’s long-term vision so it’s extremely meaningful to welcome OLEA’s first residents.” Part of Dart’s master plan is to create a place where people want to live, work and play and Camana Bay is a realisation of this vision.

Dart President Real Estate Asset Management, Justin Howe

Located just south of Camana Bay’s Town Centre, OLEA’s amenities include a community herb garden, fully equipped gym, outdoor yoga pavilion and a resort-style swimming pool featuring the first lazy river in the Cayman Islands.

OLEA homeowner, Sophie Dibb is looking forward to the Camana Bay lifestyle, which includes seamless access to the amenity-rich Town Centre and the added convenience of Cayman International School (CIS) within walking distance.

“Not only did we upgrade from a one-bed to a two-bed,” says Dibb. “We decided my parents would get a three-bedroom on the third floor with a view of the school.” This added convenience means easier drop-offs and pick-ups, not only for Dibb’s family, but for all OLEA families with children attending CIS across the street.

When completed, OLEA will comprise of 132 homes designed by Cayman-based TRIO Architects and feature Grand Cayman’s largest solar array to date. OLEA’s developers — Dart Real Estate and NCB Group — are on track to complete all phases by early 2023.

Kapok and 60 Nexus Way

On the north end of Camana Bay’s Town Centre, construction of Kapok is currently under way and will be the first building in the Cayman Islands to be built to Fitwel standards, a certification resulting in “spaces that advance human health and well-being.”

A rendering of Kapok in Camana Bay

“Building to Fitwel standards is significant,” says Howe. “At Dart, we’ve always been very thoughtful about how our designs impact people and this standard underscores our development approach.”

Named after the tropical ceiba tree, Kapok will span more than 140,000 square feet to meet the demand for Class-A retail space and residential apartment rentals in Grand Cayman. With more than 15,000 square feet dedicated to ground-floor retail space, the building is scheduled for completion in late 2022.

60 NW

A rendering of 60 Nexus Way in Camana Bay

Further to the south, 60 Nexus Way is also under construction and, once complete, it will become the tallest commercial office building on Grand Cayman. Spanning approximately 200,000 square feet, the thoughtfully designed structure will include 9,000 square feet of retail space on the street level and is scheduled for completion in mid-2022.

“Dart remains committed to the long-term prosperity of the Cayman Islands. Our vision and multi-decade approach to development includes future-proofing buildings,” says Howe. “This makes it easier to facilitate structural changes in the future.”

Howe also explains that building skyward has a positive environmental impact by reducing sprawl. “Taller buildings and increased density in the Seven Mile Beach corridor, where demand is high and land is scarce, is an efficient and effective use of land.”

Combined, 60 Nexus Way and Kapok are estimated to employ approximately 350 construction personnel and inject an estimated US$130 million into the local Cayman economy. Dart’s leasing team is now pre-leasing retail and office spaces in both buildings. For more information, email [email protected] or call +1.345.640.3600.

About Dart Real Estate

Dart Real Estate is a real estate development company based on Grand Cayman in the Cayman Islands, a British Overseas Territory.

The company’s flagship development is the 685-acre mixed-use, master-planned town of Camana Bay, the Caribbean’s first and only community founded on the principles of New Urbanism.

Dart Real Estate’s portfolio continues to grow with the addition of world-class Seven Mile Beach developments, including Kimpton Seafire Resort + Spa, The Residences at Seafire, The Ritz-Carlton, Grand Cayman, Beach Suites, an upcoming five-star resort and residences, and Paradise Villas on Little Cayman.

Dart Real Estate also manages Regatta Office Park, Flagship Building, Island Plaza and the Cayman Islands Yacht Club, and developed the residential neighbourhoods of North Creek and Salt Creek. In addition, the 26-acre Dart Nursery propagates and supplies native plants and trees for all its real estate developments and properties.

Dart Real Estate strives to enhance the quality of life and to create opportunities for all in the Cayman Islands through purposeful placemaking, meaningful connections and lasting experiences that transcend bricks and mortar.

For more information, visit dartrealestate.com and keep up with their latest developments on LinkedIn and Twitter.

About Camana Bay

Developed by Dart Real Estate, Camana Bay offers more than 650,000 square feet of commercial office and retail space as well as 63 luxury apartments available for long-term lease, public spaces for all to enjoy, world-class shopping and dining, as well as family-friendly entertainment, events and attractions.

For more information, visit camanabay.com and keep up with the latest developments on Facebook and follow us on Instagram.

MEDIA CONTACT

Anna Wootton
Digital Marketing & PR Manager, Dart Real Estate
+1.345.640.3801
[email protected]

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