Above: a rendering of the project

By the Caribbean Journal staff

The Residences By Grace Bay Resorts in Turks and Caicos has broken ground on construction.

The micro-resort, which consists of a three-home private enclave, has sold two of its units already, with one villa available at $4 million, it said.

“We are thrilled by the exceptional response and the velocity of sales to date for The Residences, and are excited to announce that the project officially broke ground on August 8,” states Mark Durliat, Chief Executive Officer and Principal of Grace Bay Resorts, in a release. “We are flattered by the level of confidence our residential buyers have placed in us so quickly and these results demonstrate how Grace Bay Resorts has evolved as a luxury development and hospitality management company catering to the absolute top of the market.”

Each home has 95 feet of private beachfront and 6,000 square feet of indoor and outdoor space.

The residences are designed by Coast Architects, which has designed properties across the Caribbean region.

The developers behind Grace Bay Resorts are planning an expansion in Latin America and the Caribbean, with plans for as many as 10 properties in the next few years.