In fact the expectation is on Guam that better times and the military are coming and we should build it.
The real estate market and able investors in that market have not been slow to get the message.
It is no coincidence that in this issue of the Journal the news team brings you word of two new developments: an upscale development on the attractive greens of the Starts Golf Resort and a 42-unit development in the center of the village of Yigo.
Other developments that the Journal has recently reported on include
• The subdivision into 16 lots of a 19 020-square-meter parcel adjacent to First Hawaiian Bank in Maite;
• Paradise Estates in Ypaopao Dededo a four-phase development of about 313 houses of which the first phase is selling well;
• Landmark Development LLC’s 35 acres between the Seventh Day Adventist Clinic and John F. Kennedy High School in Tamuning — aimed at the upper end of the market;
• Terra Capital Corp.’s 1 million-square meter property in Pagachao Agat that may be considered for single-family homes;
• The Oka Plaza subdivision in Oka in Tamuning containing 28 lots over 10 acres.
W. Nicholas Captain president of the Captain Co. and Captain Realty is one of the real estate industry experts in the region.
With admirable foresight he told the Journal in July 2004 that single-family dwellings deserve attention in the coming 18 months.
“The market that is ready to open up in the next 12 to 18 months is going to be more executive-type subdivisions ” he said.
“There have been a number of major residential land transactions in central locations that are ideally suited for executive subdivisions and there is a pent-up demand for these types of homes.”
Couple that with the expected military influx in the North and South of the island and you have a pleasing housing demand.
Even if the Air Force and Navy carry through plans to renovate and build on-base housing — as the Journal has also reported —the ability for military personnel to live off-base in a tropical island is one that has proven to have quality of life appeal whether it is Tumon’s lifestyle and the beach that call a breezy cliff-top view or a more rural setting close to a golf course.
Meanwhile Realtors with such clients and their clients — the developers with financial clout should be uniting as a group to express to mayors senators and the government of Guam the necessity for utilities and infrastructure to keep pace with commercial development.
Savvy homebuyers and up-market tenants will expect no less.