Camana Bay, in the Cayman Islands, is establishing itself as a new financial and insurance trade hub. 94 Solaris Avenue, a $20 million, five-story, 68,000-square-foot, Class A structure built by Dart Realty (Cayman) Ltd, is the newest office building.
"The completion of 94 Solaris Avenue is a significant milestone in Camana Bay's growth," said Jackie Doak, Dart Realty's Chief Operating Officer. "The office buildings at Camana Bay are an important part of the flourishing mixed-use community at Camana Bay." شقق على المارينا
Camana Bay "continues to build on the momentum Dart Realty has generated at the Caribbean's most important New Urbanism growth," according to Doak.
With shopping, concerts, parks, sports facilities, and apartments, Camana Bay is already one of Grand Cayman's most popular destinations. As a result, amid current global economic conditions, Camana Bay's office portion continues to expand, according to Doak.
The building was designed by Torti Gallas and Partners of Washington, D.C., with assistance from local architects the Burns Conolly Group, and houses Class A office tenants on the ground floor, as well as restaurants and retail.
Mourant Ozannes, one of the world's most prestigious offshore law firms, has moved its offices to the top two floors of 94 Solaris Avenue. AON, the Cayman Islands' largest risk management firm, takes up the entire second floor.
"We are proud of our team at Dart Realty for completing 94 Solaris Avenue in less than 16 months," Doak said. "94 Solaris Avenue sets the standard for Class A office space in the Cayman Islands, having already attracted blue-chip tenants in the legal and insurance industries."
"The overall economic effect of Camana Bay on the Cayman Islands is more than $800 million, and its development has created 1,000 or more jobs," she added.
94 Solaris Avenue was built using LEED principles, according to Doak, in keeping with Camana Bay's sustainable design. Many environmentally friendly features are included in the house, such as a rainwater collection system that is used to flush toilets.
Thermal building insulation, high-energy air conditioning systems, and strategically installed shading structures that mitigate Cayman's heavy sunlight are among the other sustainable features.
Doak said, "Even the landscaping is green—pun intended." Rainwater stored in the Town Center's irrigation cistern is used to water indigenous plants.
94 Solaris Avenue is the newest addition to Camana Bay's office portion, built by DECCO and its local Caymanian partners. The Town Center has a total of 450,000 square feet of office and retail space, including 69 Forum Lane, 89 Nexus Way, and additional garden offices.
"We expect demand for the state-of-the-art office space Dart Realty is developing at Camana Bay to continue to grow," Doak said.
"The Town of Camana Bay continues to blossom, with a new state-of-the-art, sustainably built office building, two new Class A office tenants, and a long-term growth plan."
Camana Bay, a lively new town in the heart of Grand Cayman, is a destination inside a destination. This mixed-use master planned community, which stretches 500 acres from the popular Seven Mile Beach to the quiet North Sound, first opened in December 2007 and is one of the first examples of New Urbanism in the Caribbean.
Dart Realty (Cayman) Ltd., in collaboration with an award-winning team of visionaries, including Duany Plater-Zyberk (Seaside and Rosemary Beach, Fla.), Moore Ruble Yudell, and OLIN Partnership, is developing Camana Bay.
"A rare combination of thoughtfully built residential, industrial, and public spaces, world-class shopping and dining, education, and sports facilities, as well as family-friendly entertainment, activities, and attractions," according to Doak.
Camana Bay is currently in the master planning process for the town's residential neighbourhoods, which was designed to develop organically over many decades. Camana Bay is fast becoming the favored destination for local and international companies, thanks to its thriving 600,000-square-foot commercial and financial hub.
The National Roads Authority (NRA) Agreement, signed Dec. 15, 2011 between the Cayman Islands Government, the NRA, and Dart Realty (Cayman) Ltd, was also recently announced at Camana Bay.
The design encompasses a number of projects along the West Bay Corridor, including the redevelopment of the Seven Mile Beach hotel, which is currently closed. To redevelop the SMB Hotel, Dart Realty will receive hotel discounts and hotel tax abatements.
The Courtyard by Marriott Hotel (previously the Holiday Inn), which closed in 2008, will be redeveloped as part of the NRA Agreement into a modern four- to five-star hotel. Feasibility studies are underway to assess the hotel's brand affiliation, service facilities, and final design features, and construction is expected to begin within the next 12 months.
The hotel's redevelopment and reopening would boost tourism and economic growth by dramatically increasing the island's current hotel room supply, as well as providing job and business opportunities.
International billionaire Richard Branson met with 200 students and aspiring business leaders at a waterfront breakfast in support of Virgin Unite, the Virgin Group's not-for-profit base, in a similar event at Camana Bay.
More than 40 students nominated by local school administrators, participants in Junior Achievement of the Cayman Islands, former nominees and recipients of the Young Caymanian Leadership Awards, and Ethan Whittaker, a Minds Inspired Scholarship recipient in Camana Bay, were among the guests.
"I've never thought of myself as a businessman," Sir Richard said, "but we have quite a few companies around the world." "When I see anything that isn't being done well, I want to try to see if we can fix it."
Dart Cayman Islands and Camana Bay funded the event in order for the future leaders of the Cayman Islands to share their own ideas with Sir Richard in an informal atmosphere, mirroring the Virgin Group's ideology of covering all of Virgin Unite's overhead expenses.
Virgin Unite is the Virgin Group's non-profit base. Its aim is to bring people and entrepreneurial ideas together to transform the way companies, government, and the social sector collaborate, enabling business to be a force for good.
The Elders, the Carbon War Room, and the Branson Centers of Entrepreneurship are among the modern, autonomous leadership approaches incubated by Virgin Unite.