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Update: Atlantic Breeze Development – a class action lawsuit waiting to happen

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Submitted by Tony N

The following document allegedly from a law firm acting on behalf of Preconco (Mark Maloney’s company) is being circulated on social media. The document was directed at the Caribbean Broadcasting Association (CBC).

  • David – blogmaster 23/02/2024

The Atlantic Breeze Development is a gift for any lawyer who specialises in class action lawsuits.

Mark Maloney, Preconco
Minister of Home Affairs Wilfred Abrahams
William Duguid, Senior Minister of Projects
Minister of Finance
The Honourable Prime Minister Mia Mottley
Dwight Sutherland, Minister of Housing

On May 12th 2021 the Prime Minister – The Hon Mia Amor Mottley launched a desirous and significant development in Chancery Lane, Christ Church called Atlantic Breeze – https://www.youtube.com/watch?v=lu4arb5JoAs. The Chief Executive Officer of Preconco Ltd, Mark Maloney, said it is expected that 267 homes will be constructed within a matter of months. He said while Town and Country Planning has given the required approval, the construction process is expected to start soon – (1). Up to January 2024, just over 50 homes have been constructed and sold with phase 2 well on the way.

I am a Barbadian living in Canada who bought one of these homes in phase one as my intention is to relocate to Barbados when I retire later this year. I saw the video put out by the Prime Minister’s office and was glad to see that there were still houses in Barbados that fit my budget. As I was born in Oistins, the Chancery Lane location and price made sense to me.

Unfortunately this story does not get better. The Atlantic Breeze Development is a gift for any lawyer who specialises in class action lawsuits. Most, if not all of the houses are suffering from terrible faults which can only be described as defective workmanship and the home owners in general seem not to be getting the corrective service we want from the developer. The problems we are having include but not limited to the following –



1. Cracks in nearly every house from roof to ground.
2. Leaking roofs.
3. Faulty plumbing.
4. Faulty electrical.
5. Floors tiles that peel after 3 months use.
6. The Chancery Lane road leading to the development has been destroyed.

Cracks
The cracks have been repaired but keep returning. Some houses have been repaired more than four times but these cracks simply return. Unless fixed permanentlE, they can devalue the houses and the development.

Roofs
As soon as it rains, the roofs are leaking and the solution seems to be to send persons to affix epoxy or silicone to the leaking areas. The question of rotting wood due to the leaks has not come up as yet. My question is – why should we accept patches on a new house and not replacement of the PVC roof sheeting?

Plumbing & Electrical
The electricity and water is not turned on when one purchases a house so no testing of the plumbing and electricity has been done by the developer prior to owners moving in. This is probably because they do not want to pay the utilities connection fee which will increase the sale price of the home.

Floors
The click flooring installed seems not to be able to sustain normal wear and tear as it starts to peel shortly after we took possession. Again the developer’s solution is to glue the peeling areas down.

Road
The terrible condition of the road is probably that due to the heavy trucks used by the developer and this has caused havoc to home owners cars. As this project is scheduled to take at least 3 more years to complete, are we to continue paying vehicle repairs without compensation? The solution seems to be fix the road.

I understand that some home owners have formed an association to try to get the developer to correct the numerous faults/snags in their homes. I, like many others took a mortgage to purchase my home and feel deceived as this is not what I dreamed of when I decided to buy in good faith.

I feel that it is incumbent on both Terra Caribbean (the sales agent) and the many mortgage companies who have lent and are lending to potential clients to take action to force the developer to not only correct these faults but more importantly, to do a comprehensive investigation to find out the reason for the numerous cracks which may in fact affect future homes in the development.

1) Barbados Today May 13th 2021

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88 responses to “Update: Atlantic Breeze Development – a class action lawsuit waiting to happen”

  1. David Avatar
    David

    @CA

    What you say is true in theory. However this is Barbados and if you watch the dynamics on the video carefully it is hard to dismiss there was central government intervention from players.

  2. Critical Analyzer Avatar
    Critical Analyzer

    @David
    This is why one should always find a piece of land, get a house plan drawn and select their own contractor to build it your way instead of buying a house in these cookie cutter developments.

    Doing that will not cost any more than these cookie cutter houses which are overpriced considering they are using economies of scale to reduce the per house building costs allowing them to pocket those saving instead of passing them onto the home buyer.

  3. David Avatar
    David

    Most people in the middle class do not have the cash to do as you say, that is, to complete a house build in a reasonable time frame. We should not find excuses to avoid insisting on rigorous regulatory oversight. Lack of good governance is a big problem in Barbados across the board. All would agree that if taking debt can be avoided by all means.

  4. NorthernObserver Avatar
    NorthernObserver

    @Nameless
    So you know, while Building Codes vary from one country to another, they tend to be more than a glossy piece of paper.
    Generally, they cover not only suitable materials, but also installation and design.

    There was a recent incident of a floor collapse at a prefab structure at Mt Tabor. An ensuing article from BT (which I cannot find circa Jan 12), was so confusing and contradictory to be funny.

    Whose standards are our professionals following? And what is required of builders?

    Do they get a set of drawings “stamped” and then proceed to make changes as ‘supply constraints’ and ‘costs’ dictate? Who is testing the concrete, or ‘dis es how we does mek it for years now’…equal a pass?

    And without some set minimum standard, how can anything be challenged?

  5. John A Avatar
    John A

    Folks we had some of the best builders here going as far back as the old plantation houses. They were no engineers, no Qs’s and no architects involved then either. What we did have though through the period from then well into the 90’s, were builders with a conscience and sense of keeping their good name in the industry.

    If you doubt this take a drive through Grazettes and look at much of what was built in the 60s and 70s still standing strong. Drive through Belleville and Strathclyde and see what the upper middle class built in the 50s and 60s. Do you not realise our chattel houses are built the same was as most houses in Florida? In other words a pad with 2x4s joing roof to floor with some pretty cladding on the outside?

    Personally i would not want a precast house cause it can not compare to 8 inch block work interlocked with concrete and steel all tied to a ringbeam. It is very hard to join 2 slabs that will not over time, create a crack where they meet.

    Finally wunna ever notice all the expensive west coast homes still being built with 8 in blocks concrete and steel? Well if them with money to burn going that way who are we to do different? Not saying the slab house may not have a place, but boss when you get up in $500,000 make sure I get 8 inch blocks and a 12 inch ring beam please.

  6. John Avatar
    John

    https://am.afdb.org/ar/speaker/dr-hyginus-gene-leon-2887

  7. Pachamama Avatar
    Pachamama

    A class action lawsuit would make no difference.

    Even the lawfare system is collapsing.

    Recall these –

    One prosecutor bringing cases against Donald Trump, herself, has had an ongoing sexual affair with a colleague and paid him 500k more than other prosecutors working on the same cases against Trump.

    As the ICJ consider their decision on the genocide in Palestine, leaders and other high Western officials, whose countries themselves are signatories to this 1948 treaty, are openly saying that they will not recognize the decision of the ICJ, even ahead of that court’s decision.

    We are talking about the French, the Germans, the British and more. Several of which their president, chancellor, prime minister and/or defense minister, people who themselves are likely to be charged with supporting genocide by supplying, diplomatic cover, weapons etc, the means by which the criminal Zionists are committing genocide.

    Need we go on. For fear of treading on rules not disimular to those used to ban people on X, or Facebook, or youtube, we wouldn’t.

    Our point, the lawfare system in Barbados, anywhere else, cannot be properly understood in and of itself without the wider context within which it’s a creature.

    In the first case, and given the criminality of Genocide Joe and his familial use of Ukraine and warfare to fatten his absent mindedness, we should now expect an asshole like Donald Trump to be the fox pretending to arrive to help the injured lamb.

    With such a criminal free to roam and be president again the level of lawfareism must heighten.

    On the second case, that criminals are running riot within the very faces of global publics and there are no ways in which they can be held accountable, means that none of these pleadings, in any kind of court will make any difference at all.

  8. Nameless Avatar
    Nameless

    Thank you very much, sir. You’ve said it way better than I could ever have.

  9. Kevin Allenye Avatar
    Kevin Allenye

    The expanded Crane Hotel was built using those Preconco precast slabs. I dont think those huge buildings at the Crane have all these cracks that you described as inevitable.

  10. Bush Tea Avatar
    Bush Tea

    What the HELL!!
    Is this Pacha…??!! … sounding as pessimistic as Bushie?

    Can Pacha be coming to the realization that brassbowlery has taken CONTROL of our doomed world…?

    …that good has become evil, and evil is now ‘good???
    …that ‘bullers’ now run things? …advised by Petra Wickky..
    …that basic common sense has deserted us – far less ‘wisdom’

    This was long EXPLAINED in a book that has been ignored by gurus such as Pacha… but which has been CONSISTENTLY accurate and prophetic over the centuries…

    The long and short of it is this…
    This world’s ass is grass!!

    HOWEVER… it remains true that –
    “If my people, who are called by my name, shall HUMBLE themselves, … and REPENT, …. and seek GOD’s favor …

    THEN (and only then) will things change..

    …or wunna could depend on ‘artificial intelligence’ to protect wunna donkeys…. LOL..

    NOT stinking Bushie doh!!!

  11. Kevin Allenye Avatar
    Kevin Allenye

    A family member of mines purchased one of those homes in Atlantic Breeze. Some homes had 1 or 2 problems listed by the letter writer; some had none; some had all listed, and more. My family did had the leaky roof and that was fixed. The homes are under warranty for a period, so the developer do try to rectify. However, even though the developer tries to fix all the problems, I would find it disheartening & depressing, as a buyer, to be confronted with these issues in a brand NEW home. So much so, buyers remorse will start to set in.

    I would think the major issue are the cracks that appear over time where the precast slabs are joined. If the owners are looking to sell there homes, prospective buyers seeing those cracks will run. Yes, the homes may be structurally sound, but who will buy a home with cracks, that are not your normal hairline cracks?

    Also, as I understand, it seems returning nationals are the ones bearing the brunt of these issues in there homes. Did they themselves or did they send a representative to do snagging walkthroughs? My family member went with an external contractor and did the walkthrough. And they did not accept the keys until the visible problems were dealt with.

    Also, the homes were being constructed in phases with completion certificates being issued, so the lender could disburse more money as normal. I think something shady is going on during this process. Why are they issuing these certificates, knowing that some homes aren’t being built properly. I know that you may only find probs until the home is almost completed, but I feel all potential future owners and lenders should be more vigilant here. Or maybe I could be wrong here? Do lenders still send out there own engineers/surveyors to look and do tests?

    I really do sympathize with the letter writer.

  12. Bush Tea Avatar
    Bush Tea

    The ‘buildings at the Crane’ and other similar projects are subjected to rigorous international and local building codes – AS MANDATED by the various Bank loan agreements.

    Residential and government projects present opportunities for scrappy work, short cuts, and kickbacks…
    So perhaps wunna can see why minimum codes are being avoided…

    Who would want to build roads, for example, that meet code requirements, and then end up lasting for decades – before new contracts (and charity support support initiatives) need to be repeated?
    …only honest decision-makers.

    Any person who would commit to a life-long mortgage, WITHOUT a firm guarantee that the quality of the home meets a minimum standard – as determined by experts who can be held responsible for the opinion provided, …SHOULD NOT come crying to Bushie when it falls apart.

    Even if government finds comfort in shabby construction – so that their kith and kin can become ‘contractors’ and so that charity donations can be continuous, PRIVATE persons can, and SHOULD take personal steps to ensure that THIER large investments are sound.

  13. Pachamama Avatar
    Pachamama

    Bushie

    With regret that book is the very fountainhead of the wickedness, of all kinds, which we see in our world.

    Indeed, the whole Shabang, the only social system known by you, that which you sometimes are critical of, an ethos going back to your 6000 year epoch.

    A system which refuses to have a mental clock with an ability to consider what happened before. The ‘nostalgic’ as one commentator once denounced such a consideration.

    We have a test for you. A simple test, though not simpleminded. From that so-called book, who some argue gives them the divine right, like the Zionists contend, to own all developments like Atlantic Breeze in Barbados, could you please tell the honorable blog, with specificity, where the buller William Sharepeare inserted his initials, WS, because, as chief translator, his lover, King James, refused him co-authorship.

    There is merely one example of the very bulling reference by you which replete the culture of the people whose ancestors you have chosen to deify. That is what religion is. Not about spirituality. But the deification of culture. And of course fictitious books are required to continue the tapestry of lies from which you seek comfort.

    Should you fail our test, then it would be clear that although your general readings of phenomena are almost always right the means by which you have so arrived are deeply flawed.

  14. One or two hits cannot win the game Avatar
    One or two hits cannot win the game

    @Kevin
    I like your comment.
    Sadly, though you make complete sense, I see things differently.

    Yours is a world of order, of processes being followed and of goodwill among men.

    I cannot escape from my world where everyone is out for a quick buck at the expense of others. That is the reality of the small island.

    Some things have to work properly during the execution of a ‘scam’, or the ‘scam’ would be a complete failure. We should not be deceived by a hit here and there and not notice the big misses.

    Have a great day

  15. John A Avatar
    John A

    Well you could always go to court, but of course if you are in your 70s you will probably die before resolution is found based on the speed the court system works at here!

  16. Bush Tea Avatar
    Bush Tea

    @ Pacha
    That ’46’ theory is nothing but speculative nonsense, which – even if true, takes NOTHING away from the value and purpose of the book.

    Bushie agrees with you – that the book itself has been misused, abused, mis-translated and completely mis-understood.

    But why you find this to be surprising is what amazes the bushman most….

    If YOU Pacha could come up with a thesis that outlines the path to world peace, prosperity and universal happiness…. what do you think brass bowls would do when they get their grimy hands on it…?

    Boss, they would make your thesis shiite ..with attempts to configure it to their own selfish, albino-centric ends….

    Holding the shitty end of the stick would be the TARGETED BB’s – those whom you really intend to be beneficiaries of your thesis – because they tend to allow themselves to be educated by the albino-centric demons; to adopt THEIR goals and objectives; and to then blame YOUR thesis for their pathetic conditions -BECAUSE it had been mis-translated and mis-used by those of demonic nature, whose ONLY motivations are selfish and albino-centric…

    In ANY case boss…. Just like your thesis would resonate with those BBs who are WISE enough to contact the AUTHOR for the TRUE story, ….the ultimate author of what you call ‘the book of fables’ can be contacted for their TRUE story too…

    You would know that many brass bowls will be influenced and controlled by the albino-centric mis-treatment of Pacha’s thesis….

    BUT NOT stinking Bushie 🙂
    You done know…
    Bushie would be coming to the SOURCE….

  17. Pachamama Avatar
    Pachamama

    Well Bushie!

    Again you are right in your first part.

    And, of course, wrong in the second.

    Our precise point is that this world has had, before the most recent 6000 year period, which animates you, tens of thousand of years of civilizations which established social systems, unknown to you and the criminals who wrote your “lied” book.

    The vestiges of these are still disernable today amongst the people who you sometimes agree were the truly aborigenals. The ones whose DNA seem to have a tendency towards justice.

    So weeeee’ve had another world before. About this there are no doubts. Unless, of course, one’s mind is so buried in the fiction of the last 6000 years, that there is the in-built predetermination not to ruthlessly question precieved wisdom, the books of impostors.

    Again! We’ve had justice in this world for tens of thousands of years before the rise of the people who have inflicted you with their fictional narratives.

    Why not transport yourself back there, at least as a thought experiment, leaving the cacoon momentarily. Reemerging with something to compare and contrast your limited thinking about matters existential.

    What good purpose, other than to decieve, can any book of lies have?

    We have noticed, like most readers of said, that you have failed to answer the question posed.

    In these circumstances, and with your permission, we’ll be then left with no choice but to assume that even Pacha knows your “lied” book, as s non-reader, better than you. Of course, that’s the best way of debunking the lies therein.

  18. Bush Tea Avatar
    Bush Tea

    Pacha
    From whence have you deduced that Bushie is a ‘6000 year’ proponent?
    Having constructed your 6000-year straw man, you rushed to destroy it – much like we did to Mr Harding in earlier Crop-Over festivals. Yuh can run, BUT yuh can’t hide from the truth.

    Boss, it is only COMMON SENSE that this world is MUCH, MUCH, more than 6000, or even 6 million, years old. That is not an issue for serious debate.

    So wheel and come again…

    If Someone wrote a book on the history of Barbados and concentrated on the past 800 years… does that suggest a disclaimer of the previous millions of years?
    Presumably, it concentrates on RELEVANT details that more directly relate to current times.

    With regard to your riddle posed about bulling Shakespare, …you MUST have noticed that Bushie has LONG conceded to your superior ‘brightness’. The Bushman is fine with ‘cheating’ …by going to the SOURCE of wisdom..

    Apart from which, ‘Shakie’ is even less relevant to what matters today – than is even Petra W, who is still around, and still confusing the place with nonsense.

  19. Pachamama Avatar
    Pachamama

    Coming from Bushie

    The Master of The Axiom.

    Alright man, alright.

  20. Hants Avatar
    Hants

  21. Cherper Avatar
    Cherper

    Easier said than done that’s the problem here in Barbados always wants to kick the dust under rug and refuse to face the reality of situations I agree with everything she says somebody has to send a message one way or the other that shady work will not be accepted that bad street is another story all by it self brother Abraham’s you are in charge do something more aggressively like when you had your campaign meeting in the park how aggressive you were in telling the people what you think they want to hear

  22. David Avatar
    David

    Meanwhile elsewhere.

    Golf course in shareholder dispute

    The name of luxury Barbados golf resort Apes Hill is being called in an acrimonious public dispute involving its primary shareholder, Canadian investor and business executive Glenn J. Chamandy.

    It relates to Chamandy’s controversial December 10 departure from Gildan Activewear Inc., an international apparel manufacturer which has operated an international sales office in Barbados since January 1999.

    After Gildan announced the exit of its longstanding former president, chief executive officer (CEO) and director, the company’s board and Chamandy have been involved in a series of public exchanges on the matter, the most recent taking place last week.

    Chamandy purchased Apes Hill in 2019 “to reinvent it as a golf resort and community with a characteristically laid-back atmosphere and an emphasis on sustainability”.

    Open letter

    Responding to a campaign by some shareholders to get the former president reinstated, Gildan’s board of directors alleged in a January 8 “open letter to shareholders” that “Chamandy was chief executive for 20 years, and in his last few years he gradually became more disengaged as CEO as he increasingly focused on outside personal pursuits, including the development of a golf resort in Barbados”.

    Chamandy, whose grandfather Joseph founded Gildan predecessor Harley Inc. in 1946, responded by saying that he was “deeply disappointed by the actions of the Gildan board of directors”.

    “Having been at the helm of Gildan for more than two decades, I take great offence at what appears to be a premeditated effort to publicly undermine my record and, what is even worse from a corporate standpoint, is that their careless behaviour is also tarnishing the reputation of a great company,” he said in a January 9 statement.

    The board’s most recent comment on the issue came last Tuesday when it claimed: “In its January 8, 2024 letter, the board explained how Mr Chamandy, who was chief executive for 20 years, became more disengaged as CEO as he was increasingly distracted by outside personal pursuits, including the development of a luxury golf resort in Barbados.”

    Adding that it had “new information to share with its shareholders”, Gildan alleged: “Mr Chamandy failed to disclose that he had invested in funds managed by a Gildan shareholder who has now come out in support of reinstalling Mr Chamandy as CEO. A senior executive of that shareholder also purchased a multimilliondollar property at Apes Hill, the private golf resort in Barbados owned by Mr Chamandy.” (SC)

    Source: Nation

  23. Sargeant Avatar
    Sargeant

    More on Gildan

    https://www.theglobeandmail.com/business/article-gildan-ceo-shareholders-stock/

  24. David Avatar
    David

    You to copy paste the article Sargeant, it is behind a paywall.

  25. David Avatar
    David

    Plan for bigger Coverley

    By Cheryl Harewood

    There are plans to pump hundreds of millions of dollars into building more houses and facilities at the lifestyle residential development in Coverley, Christ Church.

    This was revealed by businessman Mark Maloney, of Housing Concepts SRL, who told the Weekend Nation in an exclusive interview that the new wing, Residences At Coverley, will be constructed to the west of the already established Villages At Coverley.

    “What has been created to date would have seen an investment of BDS$250 million and we anticipate that the overall investment, once the current and future plans are built out, would be in excess of $1 billion,” he said.

    “Our expansion will include the construction of 650 pre-designed, three- and four-bedroom homes of varying styles, a new town square, recreational and outdoor living and sporting facilities. We will also be building a hospitality campus of the highest standard to serve Barbados and the rest of the Caribbean, as well as a senior living facility to accommodate the elderly. Homes will range from single family to duplexes and two-storey units. We will be launching this expansion in March and we are currently working with the relevant regulatory agencies,” Maloney added.

    Prime Minister Mia Amor Mottley had mentioned in her 2023 Budget that the Florida International University would be starting up a branch in Barbados.

    An upbeat Maloney said: “We want the Villages at Coverley and the Residences At Coverley to be the most desirable place for Barbadians to want to live. Of course, we will be enforcing standards in the new development to be upheld by everyone. This is because people want to know that what they buy into is still relevant years down the road, and to do so there are covenants to protect homeowners’ investment.”

    Expansion at the Villages At Coverley over the past two years has witnessed the construction of 200 homes, ranging from $380 000 and up. This month a new Starbucks will join the already close to 15 restaurants and other facilities at the lifestyle community. With the expansion, a home store, a second beauty salon and a hardware store will also be added.

    High demand

    The Villages At Coverley is already home to about 3 500 people, with 1 000 homes constructed to date.

    Maloney said there has been a high demand for houses in the lifestyle community.

    “We have been in a positive trajectory since 2019, and we have opened up three new villages – Cherry South, Ackee West and Sugar Apple – over the past two years. Approximately 200 new homes have been constructed. Our challenge right now with the current demands is not how we will be able to sell these houses, but being able to build enough to meet the market demands.

    “We carried out a study on the real estate market and an absorption report shows there is a huge demand for homes as we are building, and that persons are leaning more towards buying homes in communities. They are also enticed by the lifestyle community. Many people are leaning towards this kind of living and our infrastructure is designed to the highest standards to meet the demand.”

    The developer said the demographic of those living in Coverley was mixed – young professionals, retirees, whole families and even investors who are purchasing the homes and turning them into Airbnb accommodation facilities.

    Admitting that Housing Concepts SRL was not doing as well as had been planned before the main entrance roundabout was built, and also when Ross University School of Medicine partnered with the company to provide accommodation for 1 300 students, Maloney stressed that acquiring that contract allowed Housing Concepts SRL to have the critical mass required to open new businesses and construct more homes in the Villages At Coverley.

    “The homeowners have always applauded us, especially for keeping the environment clean and safe. People had confidence in the developer when we started to build in 2010, and today homeowners get to live in an environment conducive to goodness and the social benefits derived are immeasurable.

    “They feel safe and they see the many amenities available to them. We see ourselves being able to expand on our offerings,” he said.

    Maloney said the vision to develop a lifestyle community in Barbados was first considered back in 2008. Initially, Housing Concepts SRL partnered with Government to make this dream a reality. However, the developer and Government came to an agreement in 2019, where Government sold the lands rather than benefiting from getting paid when a home was built and sold.

    Source: Nation

  26. David Avatar
    David

    Hmmmm

    PRICED OUT

    $200 000 to $600 000 homes in short supply, says realtor

    By Carlos Atwell carlosatwell@nationnews.com

    Barbadians looking to purchase a home in the price range of $200 000 to $600 000 will have a hard time doing so, according to some real estate agents.

    Junior Sparks, who has 20 years’ experience as a realtor, said there were not a lot of options available in the lower end market.

    “Even for somebody looking to spend in the low million, chances of that too are a bit slim because it’s the signs of the times – where some properties which could be options are not coming on the market because they are staying in the respective families. That’s the type of market we’re in right now,” he said, recalling a $700 000 turnkey (fully furnished) property once selling within a week.

    “So many people are looking for properties in the $200 000 to $600 000 range; they are just not available,” he told the Sunday Sun. Sparks said it was tough to determine whether it was a buyer’s or seller’s market. “The market doesn’t have a lot of inventory right now for sale. If you ask if locals have a lot of options for purchase, the answer is no. Right now we are having a situation where a lot of people are looking for houses costing $500 000 and under, and are having a hard time finding options because the market does not have many.” The West Coast tends to feature the most expensive properties, which Sparks said had not changed, with St James and St Peter having the top luxury properties. Even so, he said prices have been falling.

    “Within the last three years prices have been the most realistic I’ve seen them. Before the pandemic, prices were so much higher than they are now. The only ones still going up are those on a beach or a cliff, those with a view,” he said.

    Sparks said Government’s Welcome Stamp programme was a tremendous boost for the real estate market.

    “A lot of the Welcome Stampers fell in love with Barbados and even though some of their rent is considered super high, it is still less than they were paying overseas, so a few have invested in property here and now call Barbados their home.”

    Hayden Hutton, chief operations officer of the Terra Group, said the market was very strong despite the temporary lack of supply in the lower end.

    “Without any question, the biggest demand is within the $150 000 to $250 000 range. There is certainly not enough supply and developers tend to be dispassionate about building modest housing, but there is no doubt someone will come along and tackle the opportunity. We’re already seeing it with the HOPE project and the developers at Atlantic Breeze and Harmony Estates (in Christ Church), because there is still a lot of supply with condominiums and capital will look for where that demand is,” he explained.

    Hutton was also buoyed by the level of foreign investment, also praising the Welcome Stamp programme.

    “We had a lot of clients who came here and stayed longer during COVID, renting high-end villas and properties – north of US$10 million. People who were running big businesses [overseas] figured out, ‘We can all work remotely now. If I can add a Barbados property to my portfolio, why don’t I go there and spend [time]?’” Cherita O’dell, a real estate agent for 19 years, said the pandemic threw the market on its head but it was now levelling out.

    “After COVID it was a market in which property was moving. When people realise they could die from something they can’t see, their behaviour changes – even people who were looking to put off purchasing a house decided to do it right now.

    “Then you had more motivated sellers because they weren’t sure COVID was coming back and it made you . . . [question] things you were holding onto for so long, do I really need it or can I sell and use that money to go cruising? COVID made people look at things differently,” she said.

    Affordable prices

    O’dell said in the rental market, demand had also exceeded supply, especially in the $1 500 to $3 000 a month range. Still, she remained hopeful as she said the market was in a better place than in 2019/2020 as new developments were springing up at affordable prices.

    “A lot of people are tired of renting and want to put that money into an asset, but I have never seen anything wrong with renting. We have to stop this thing where we make Bajans feel buying land is the only way to success.

    “Owning property can lead to building wealth but it can also put you in a hole. Don’t put everything you own into one asset. Get creative, and if you do get a house, look for ways to help pay that mortgage. Ask yourself, ‘Can I rent out an apartment from this?’ Use the land to grow and sell produce. I would like Bajans to look into things like that,” she said.

    Source:Nation

  27. TheOGazerts Avatar
    TheOGazerts

    The fact that things are falling apart comes as no surprise to some.

    It’s all a scam or a con. Look at how the 10,000 in 5 years or 250 Chinese houses have just fallen apart. All that is real about these deals was the passage of money from one hand to the other.

    It is a scam, a con, a cheap truck, three cars monte, flimflam or some new trick to separate fools from their money.

    I see folks attempting heavy lifting, but all is folly. Sometimes sheer BS wrapped in fancy words.

    It may sound silly
    It may be repetitive, but I believe nothing that originates from these governments or their organizations or their well paid talking- heads.

    I try to read what is written, but I become sick to my stomach and have to abandon the attempt.

  28. David Avatar
    David

    No title deeds halt Pool project

    DEVELOPERS OF THE Home Ownership Providing Energy (HOPE) programme at Pool, St John, may have put the cart before the horse.

    Construction started on low-income houses on lands which formerly fell under CLICO Farms, but the title deeds have not been transferred, leading to a halt in the project.

    This was revealed in a statement yesterday from chairman of HOPE Inc. Colin Scaife.

    “It is, however, a fact that the formal passage of legal title of the Pool lands to the Government of Barbados – a process arising out of the CLICO collapse – is still unexpectedly incomplete years after the transfer was initiated,” he stated.

    “Without legal title to the land, work has, of necessity, been temporarily halted at Pool. Optimal use of resources dictates a shift in focus to where the greatest impact will be made – that is, HOPE’s other sites such as Lancaster, Clifden and Colleton.”

    Attention was drawn to the development at Pool on the front page of the last SUNDAY SUN with unfinished buildings, exposed steel and grass growing. Minister of Housing Dwight Sutherland said he would have addressed the issue yesterday.

    “Pool, in the interim, was assessed by independent civil and structural engineering firm Mahy, Ridley, Hazard, as to what measures were required to maintain the integrity of the materials and site during the pause in works. All the recommendations put forward in their report to HOPE Inc. were adopted. Periodic debushing, a key part of this process, has been affected by heavy rains and will resume,” Scaife added.

    Cost

    It is not clear how many lots are to be constructed at Pool, the overall cost of the project or how much money has been spent to date. In July 2021, then chairman of HOPE, Tony Hoyos, said it would commence with 174 lots, with another 100 to be built on the south side of the road.

    In May 2021, St John Member of Parliament Charles Griffith said it would be 180-plus and in April 2022 during the opening of show houses at Vespera Gardens, Lancaster, St James, the figure was given as 201.

    Ownership of CLICO Farms was transferred to Resolution Life Assurance Company Ltd (ResLife) in January 2018, comprising about 1 790 arable acres – 941 at Todds and 850 at Wakefield.

    In September 2019, then Democratic Labour Party spokesperson on agriculture, former senator Andre Worrell, queried what would happen to those properties.

    “We are concerned because we do know of the potential that when these lands are sold, we could eventually hear about applications for change of use for those lands,” he said.

    “Many of those lands are the most fertile in Barbados and we are fearful that the current administration would be taking these lands out of agricultural production and use them for housing development.”

    Worrell called for dialogue with stakeholders in the agricultural sector to have their views and feedback on how these lands could be used to help reduce Barbados’ high food import bill or make them accessible to young farmers.

    The current administration has since allocated 50 acres of land at Wakefield Plantation under Project Phoenix for farmers. (SAT)

    Source: Nation

  29. David Avatar
    David

    Traditional media catching up.

    https://www.instagram.com/reel/C3qp_XTtDmw/?igsh=N2NseDZwamZidHk5

  30. Sargeant Avatar
    Sargeant

    The reporter didn’t disclose the content of the letter from the builder’s lawyer.
    Libel chill

  31. David Avatar
    David

    @Sargeant

    There is only so far traditional media can prosecute these matters and this is a government owned media company.

  32. Sargeant Avatar
    Sargeant

    The PM and a couple of Ministers were at the ground breaking ceremony, surely one of them should be approached about these issues.

  33. David Avatar
    David

    @Sargeant

    You mean to get a Savvy experience?

  34. Hants Avatar
    Hants

    Unbelievable.

  35. Sargeant Avatar
    Sargeant

    There is a LOO in the H of A,let’s see if he will raise the issue. For most people a home is the largest investment that they will ever make, they deserve respect

  36. David Avatar
    David

    @Sargeant

    He can raise it as the standing orders permit?

  37. Artax Avatar
    Artax

    David, do you remember the Venezuelan housing project in Husbands, St. James…. near Oxnards? Those houses were built years ago, using a similar construction method of concrete slabs. The owners experienced problems with cracked walls and leaking roofs as well. A personal mate who is a ‘contractor,’ advised me to build my home, rather than purchase one from the ‘mass production line’ of a housing project. Time limits = shoddy work. Seems as though we did not learn anything from lessons taught at ‘The Grotto’ and ‘Coverley.’

  38. David Avatar
    David

    @Artax

    It must be gut wrenching for individuals to expend a significant amount of money then to find themselves in the state being described.Hopefully there is relief to come.

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