PROVEN Real Estate Investment Trust (PROVEN REIT), a subsidiary of PROVEN Investments Limited, will implement and oversee residential and commercial development projects in Mandeville.
Proven REIT hosted a launch event for its ‘first of its kind’ mixed-use development on February 16th with partners including Jamaica National Bank, National Housing Trust and Stewart’s Automotive Group – Mercedes-Benz Jamaica.
Come August 2021, Mandeville, Manchester will become even more of a vibrant metropolis for those who want a comfortable lifestyle without the hustle and bustle of living in the city with a neighbourhood built for convenience. Bloomfield Park is on nine acres of land where work, life and leisure can be enjoyed in one location.
“The feedback and excitement have been amazing. We are excited to make history and to do so in beautiful Mandeville and in Bloomfield Park.”Proven Reit CEO, Aisha Cambell
The development will be separated into two major parts: commercial and residential.
AVISTA at Bloomfield is designed by Vidal Dowding and his team from Atelier Vidal. Located on a hill overlooking a beautiful view of the city, this meticulously designed apartment complex made up of 78 units will host 40 studio units, 20 one-bedroom units and 18 two-bedroom units along with amenities such as a heated swimming pool, jogging trail and a fitness centre. Each unit will have access to their very own balcony. The commercial arm, Bloomfield Park, will be situated on the flat. Here, residents will have access to professional and BPO offices, leisure and entertainment spots such as restaurants and retail stores with separate entrances for both – the residential being on Perth Road and the commercial being on Greenvale Ave.
At Sunday’s launch, Mandeville’s Mayor Anthony Mitchell said: “Plans inclusive of both residential and commercial buildings with an estimated development cost of J$12.74 billion with approximately $3 billion of this from the Proven REIT Investments. This represents more jobs, more businesses and an enhanced economy in the town of Mandeville.”
Also present at the launch were Peter Bunting, Member of Parliament representing the constituency of Central Manchester and JN’s Carlton Earl Samuels, Group Chief Development Financing Officer, who announced 97 per cent financing with JN which allows one to live at AVISTA for as low as J$90,000 per month.
The launch saw both movers and shakers from Mandeville as well as Kingston in attendance. Hosted by Mandeville’s own Natalie Outar, music was provided by DJ Bambino with a live performance by Manchester’s ingénue Lila Ike. The afternoon, which was themed “Bloomfield LIVE”, allowed guests to get a first-hand look at the unit plans, layouts and the commercial layouts. Proven Reit’s Chairman, Christopher Williams, announced within minutes of Lila’s performance “The top floor has sold out!”
Proven Reit CEO, Aisha Campbell, confirmed that not only had the top floor sold out but that they also had 30 per cent of the units on reserve.
“The feedback and excitement have been amazing” she beamed. “We are excited to make history and to do so in beautiful Mandeville and in Bloomfield Park.”
Ten years ago PROVEN Investments Limited was launched and, over that period, it has evolved into a diverse group of portfolio companies comprising: JMMB Group, BOSLIL Bank, Access Financial, PROVEN Wealth, IFP and Dream Entertainment.
PROVEN REIT Limited (PREIT), a wholly-owned subsidiary of PROVEN Investments Limited (PIL), is the real estate investment and development arm of PIL focusing on both residential and commercial real estate locally and internationally.