Thursday, Oct 17, 2019
HomeBusinessAristo completes construction of luxury residential development ‘Thirty Six’ 

Aristo completes construction of luxury residential development ‘Thirty Six’ 

Aristo Development has finally completed the construction of Thirty Six, a $30 million luxury residential development on Paradise Island.

The development’s first residents have received the keys to their brand new luxury condos, according to a press statement.

Aristo President and Chief Executive Officer Jason Kinsale said in the release that the project went exactly as planned.

“Everything about the building turned out as we projected, with the attention to detail that says quality standards synonymous with Aristo Development,” he said.

“We have to thank all of our crew, our Bahamian team and all our partners who made this happen.”

The company’s Director of Sales and Marketing Matthew Marco said interest in the development was strong from the beginning of the project, especially as Thirty Six is “the first new condominium development on Paradise Island in a decade”. He also said condo prices have appreciated already.

“Prices have climbed more than 30 percent from pre-construction,” he said.

“We are 80 percent sold, which is a very comfortable place to be. I was so confident from the start that I chose to be a homeowner in the building as well.”

Equity funding for the project came from Sterling Global Financial, and that company’s Senior Executive Vice President Khaalis Rolle said he has been impressed by Aristo’s track record of successes.

“Aristo demonstrates the ability of Bahamian companies to perform at the highest standards,” said Rolle.

“Secondly, the project, when proposed, met our objective at Sterling which is to contribute to the growth of the Bahamian economy through real estate and quality development. We want to help create a strong construction and development sector which we believe will add immeasurably to employment rates, national development, international reputation and individual quality of life.”

According to the press statement, the construction of Thirty Six created 200 jobs at the height of its development.

The luxury development comprises 38 residences, a large pool and pool deck, a state-of-the-art fitness centre, 24-hour security and concierge service.

Marco said there are Europeans, Americans, Canadians and Bahamians who want “the luxuries of a resort and the comfort of their own private home”.

The statement noted that prices for the final phase of two-bedroom residences range from $800,000 to more than $1.4 million.

“All penthouse units feature panoramic views and private roof-top terraces,” the press statement revealed.

“An in-house property management company handles both short- and long-term rentals for owners who want to benefit from the robust demand for quality housing on the island.”

Chester Robards

Senior Business Reporter at The Nassau Guardian
Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian.
Education: Florida International University, BS in Journalism
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