Avia Collinder, Gleaner Writer

Though it might appear that locally, demand for high-end real estate is softening, money is still following some projects.

So claims Donovan James of the Ironshore, Montego Bay-based NorthWest Construction and Development Company whose current project - a condominium and townhouse development at Ironshore - is 80 per cent sold to buyers in Jamaica and from overseas.

Involved in construction since 1989, James and his team at NorthWest have made luxury condos and townhouses their focus.

House value increase

Properties constructed since 2000 have appreciated some 150 to 250 per cent in value. But, James says, the biggest validation of his efforts was the receipt in November of the International Quality Crown award - gold category - from the United Kingdom-based Business Initiative Directions.

NorthWest Construction most recently completed the Villagio complex in Ironshore, which comprises 14 units of two- and three-bedroom townhouses and two-bedroom condos.

Units in Villagio retail at between US$350,000 and US$630,000.

The complex comes with a fully equipped gym, swimming pool and a camera-surveillance security system.

For those who bought into his Tuscany development, also in Ironshore - comprising 13 units completed in 2001 - their investment of between US$180,000 and US$250,000 for the units has now appreciated to between US$250,000-US$630,000, said James.

Other gated developments completed by NorthWest in Ironshore include The Venetian and Tuscany Place II. The Venetian, consisting of 18 condo and townhouse units, completed in September 2007, sold for US$250,000-US$450,000.

James explains that he has stuck to Ironshore as it is one of the more upscale neighbourhoods in Montego Bay and is within view of the hotels in Rose Hall, which demand gated, luxurious residences for their executive staff.

Switched to real estate

The 49-year-old builder who left the College of Arts Science and Technology (now the University of Technology) with certification in chemical technology, says he switched to real estate because of the influence of friends in the industry.

He partnered with collegemate Donovan Aljoe, a construction engineer, in developing NorthWest.

The company's primary source of financing, he says, has come from advance sales and loans from the RBTT Bank.

James states that because prices are quoted in US dollars, NorthWest has never had to impose price escalations on clients.

The emphasis on fine finishes in each complex, James adds, has been a winning strategy.

It is, he notes "an arduous task", but one to which the company is committed, even to the point of sourcing - from as far as Europe - fittings that include special shower bars, Toto toilets, imported faucets and in-sink garbage-disposal units, garage doors and garage-doors closures.

Skilled workers

Workmen, he said, have also been specially chosen and are required to be skilled in their field.

"The challenge in the high-end market is that our clientele is an international one, with individuals who own upscale homes in other countries. They demand quality and are very meticulous.

The award, received in London, James states, "means that we have been recognised internationally for our commitment to quality, but it also means that we can't be complacent and will have to look for ways in which we can keep improving".

avia.ustanny@gleanerjm.com

Tuscany Place I, the first development by NorthWest Construction Development Company.