Polar Real Estate International Ltd., developer Ziel Feldman, and Canadel Development of Canada have set up a joint venture to develop residential properties in the Hamptons.
One of their projects is the construction of vacation homes in the Hamptons. In March, the venture bought lots for the vacation homes, intended for the very wealthiest households. 300 apartments in multi-storey buildings will be built in marinas in the area. Construction is scheduled to begin in mid-2006. The value of the project in sales prices is $105 million.
Read More: Globes Online
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