For years, two six-storey apartment buildings stood abandoned and desolate at Upper Mendes Drive, Champs Fleurs. The buildings, now known as the St Georges Apartments are visible to anyone looking north of the Uriah Butler highway, in the vicinity of Mount Hope medical complex. The ribbon cutting was held last Saturday. The apartment complex was formerly known as Hevron Heights, whose development company was embroiled in a long legal dispute against Guardian Asset Management (GAM), the subsidiary of Westmoorings-based Guardian Holdings Ltd
The legal battle between the developers, David and Leonara Deslauriers, and GAM stemmed from a $18.9 million loan received to fund the apartment development.
The couple claimed that when GAM failed to advance them additional funds to complete the development in 2009, they suffered $25 million in losses with the project still incomplete.
In 2018, GAM placed the upscale development for auction in a bid to retrieve the $40 million debt, but there were no takers at the time. The courts then permitted GAM to sell the towers, along with the Deslauriers’ property at Victoria Square, to clear the debt.
Two years later, the St Georges Development Group bought the towers from GAM and started construction in 2022.
The first tower is almost complete, and the entire project is expected to be completed in the first quarter of 2025.
George A Laquis II, managing partner of the St Georges Development Group, told Business Guardian the company spent over $100 million on the project. The new developer’s bankers are the First Citizens Group.
Laquis said the compound features 38 three-bedroom apartments, each 1,800 square feet in size, and two penthouse units, each covering 3,600 square feet over two floors.
He divulged that the units will start at $3.2 million and the amenities include central air conditioning, high-end plumbing and electrical fixtures, card access, intercom communication, a swimming pool, a clubhouse, a fitness centre, and rooftop gardens.
Laquis noted that the infrastructure includes over 40,000 gallons of water storage, fire pumps, and sprinkler systems for both common areas and individual units, ensuring safety and reliability.
“One important aspect of this project that we want to highlight is our decision to avoid pre-selling any units until we reach a stage where potential homeowners could truly envision themselves living here. Based on the past history of this development, we felt it was crucial to ensure that the construction was well advanced before our pre-sales launch. This approach was essential to give our buyers confidence that they are investing in a project that will be completed successfully,” Laquis said.
He called for the streamlining of the approval process for similar developments.
“Reducing delays and bureaucracy would not only be beneficial to developers and potential owners but would also help mitigate the cost and time associated with navigating the current approval environment,” the property developer said.
He stated that agents were expected to be invited on Wednesday to view the units, and this Saturday and Sunday there will be an open house for registered members of the public.
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“Due to the history of the project, being stalled in 2009 with the previous developer, we chose to get the project to a certain point of construction with the model units so people could see what the living experience would be like, along with the level of comfort when they put their deposits down to own their new home.”
Asked what the general interest was like to purchase the units, the developer said there is a long list of people who are expected to visit.
“This project reflects our commitment to quality, innovation, and excellence. We’ve collaborated with top architects, designers, and craftsmen to create homes that exceed the highest expectations. The St. Georges Apartments blend luxury with nature, offering a serene escape from the hustle and bustle of city life.”
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Property safe
With crime being a major problem in the country, Laquis said the compound has gated access with 24-hour security, CCTV cameras, on-site patrol, and security fencing around the entire compound.
“We’re going to be extremely well-lit on our roadways and leading up to our development, as well as secure parking. We have been up here now for about two years and there have been no issues. The neighbours, the residents living here from the bottom of Mendes Drive to the top, have not reported any crime problem.
It’s a nice neighbourhood and I think the people who end up here will also be very safe and secure,” Laquis said.
Other projects
Speaking on other achievements, Laquis said the group has completed significant projects such as Mandalay Gardens, a 55-acre gated community in Arima with 176 residential lots; The Villages at Mandalay, a neighbourhood shopping centre anchored by Massy Stores; and Chateau de Chantilly, featuring 16 executive townhouses in the heart of Fairways, Maraval.
Looking ahead, he said the company is excited about the upcoming ventures.
“We are currently in the process of taking over the bpTT complex in Mayaro, soon to be known as CBRY-Z Resorts, a nine-acre boutique beach resort—where we plan to revitalize the area, initially offering full accommodation to energy sector employees.”
Also, he said construction will soon begin on 80 apartments and 10 townhouses at Mandalay Gardens, Arima. The development company also expects to start construction on the Corner Stone Suites—a new residential development set to revitalize Stone Street in Port of Spain as well as a commercial project on 4.75 acres of land at the Aranguez South roundabout, called the Amalguez Corporate Park. Additionally, a 60-room branded hotel is coming soon to Maraval.
This project Laquis highlighted represents an investment of over $100 million, underscoring the Group’s commitment to investing in T&T with confidence and contributing to its growth and development.
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