Merit Development, the Jamaican subsidiary of United States-based Merit Telecommunications, better known for telecoms devices such as network switches and firewalls, is now throwing up literal walls in its first foray into the construction and property development market in Jamaica.

In Jamaica, for the past eight years, Merit has, since 2008, been constructing 195 detached three-bedroom homes on 32 acres of land off the Spanish Town by-pass in St Catherine.

Janet Maureen, sales director at the company, told Wednesday Business that phase one of the three-phase development has been completed, with all 73 units in that segment sold.

Officials of the technology firm did not explain the strategic reasoning behind the new venture or how much money was being poured into it, but Maureen said construction started last year in response to the market.

"We did a market research and the project was designed to meet the needs of the market we surveyed," she said.

"We are putting in a number of the things from the market research," she added, noting for example, that persons surveyed wanted to move into a community that was ready to be lived in with all aspects of the construction ended before moving in.

Partnership with SB&W ja

For this venture, Merit is partnering with SB&W Jamaica Limited. The principals behind the real estate development thrust are said to be Kenneth Picinich of the US and Jamaican Courtney Blake.

The residences in this development, El Prado Verde, are not the typical starter homes, which are popular in Jamaica.

For one, there is little room for expansion.

"All the units were designed and approved as single storey units and you can't go upstairs," Maureen said.

As consolation, there is an area that can be easily converted into another bedroom, a den or an office, the developers have pointed out.

The units are 1,269 square feet with lot sizes ranging from 4,000 square feet to 7,000 square feet. Maureen said the prices of the homes vary based on lot size and location, among other factors. However, the average price is $9 million, slightly up from the $8.5 million for the phase-one units.

Homeowners in the first phase are expected to take possession early in the new year, with the completion date for all 195 units set for April next year.

Planning and construction approval from the St Catherine Parish Council was received in November 2007 for the three- bedroom, two- bathroom residences, which come with ceiling fans and marble top bathroom fixtures.

The developers say the homes are complete with fencing at the back and sides of each property, while the buildings have stone-coated metal roofing and reinforced concrete walls.

"Merit provides affordable, comfortable, and safe living for residents of Jamaica," the website for the development group said.

"Merit plans, develops, and builds residential communities focusing on single family homes and targeting first time applicants to the National Housing Trust," it added.

dionne.rose@gleanerjm.com