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Prestigious WaterColours Completing Construction

Publish Date : 29 Apr 2014

The WaterColours, an international award winning development comprised of the most prestigious residences on Seven Mile Beach, is scheduled to complete construction in the next couple months.  This in itself is a huge accomplishment, considering it started construction just as the global recession was unfolding, which literally froze and made bankrupt almost all other real estate developments that were starting or already under construction worldwide.

Fortunately, WaterColours had a couple unique advantages.  One, it was offering a “new to Cayman”, highly desirable type of lifestyle for an exclusive development of beachfront residences, and at an excellent value.  This lifestyle featured an integration of many 5 star, hotel type services/amenities, which provided an exceptional benefit to the owners and residents.  WaterColours customers, of which a larger number than normal are local residents, had the foresight to see this early on and continued to buy residences through the recession. 

An overview of some of these services and amenities complimenting the WaterColours lifestyle include; state-of-the-art beachfront fitness studio, beachside infinity pool with 200 feet of vanishing edge, 24/7 hour manned security, private massage room, beachfront owner’s conservatory with wine storage and chef’s kitchen, concierge services and valet parking, owner’s guest suites and boardroom, private underbuilding parking, and on-site luxury car service.

A second advantage came just as construction was starting.  It was a new height allowance, increased from seven stories up to ten stories – although WaterColours is only nine stories, but in the height of ten.  This allowance gave the Developer an opportunity to add another three floors and 21 more residences, at the same land cost, thereby reducing prices per residence, by just over US$1 million dollars each.  A windfall like this will likely never happen, again.

WaterColours immediately went from being a good value to being an unbelievable value, at these much lower prices.  The new WaterColours lifestyle, along with the tremendous value, provided the cachet that was needed to sell throughout such a severe recession.  It has also incorporated the best, most current construction materials and technologies to add to its appeal.

The WaterColours is a “smart building”.  It has a fibre spine running up through it allowing the most cutting edge technology to be used for the operations and owner’s use.  In addition, it is eco-friendly and energy efficient, incorporating LED lighting throughout the property, high SEER ratings on air handling units to reduce energy consumption, tinted glass and exterior insulation to reduce heat transfer, and energy-efficient appliances.

Prices are currently from US$3,445,000 for a 3,600 square foot, beachfront 3 bedroom/3.5 bathroom, plus den, plus laundry room residence.  There are also 4 bedroom/4.5 bathroom residences and a 7 bedroom Grand Residence for sale.  Over 60% of the development is sold and sales activity has substantially increased over the last year.

Locally renowned design firm, International Design Group (IDG), has partnered with the Developer for the interior design of WaterColours.  They have designed the common areas, including the owner’s lounge and guest suites, which have been designed and furnished to 5 star plus standards.

IDG is also providing a turnkey package of customized interior design and furnishings for individual owners who want to avail themselves of their services.  There is a WaterColours Showroom at IDG’s main showroom in 7 Mile Shops, featuring a display of the various finishes, hardware, and fixtures for all of the residences.

WaterColours will complete by mid-2014.  It is heralded as an exciting, new echelon in residential/resort living on Seven Mile Beach and quite frankly, nothing else compares.