Grenada’s luxury offering is continuing to grow, with another new project underway: The Point at Petite Calivigny.

The residential resort complex will include a combination of luxury villas, condominiums, bungalows and suites.

Phase one of the project will see the construction of a number of two-bedroom condos and three-bedroom standalone villas, with completion set for the fourth quarter of 2017.

The second phase will include the construction of a 60-room hotel, a beach club-restaurant, a sky bar and lounge along with a spa.

This week, the project announced that Interval International’s Preferred Residences had added the project to its collection.

“Shared ownership has proven to be a successful business model in several of the Caribbean’s most popular travel destinations,” said Dr. Christopher C. Ashby, director of Chanson D’Argent Holdings Development Limited, developer of the resort. “After many years of involvement in Grenada’s residential real-estate market, we recognized a need for more diversification in the island’s tourism product. We are confident that The Point at Petite Calivigny provides the optimal mix of luxury and flexibility to fit the lifestyle of today’s affluent leisure travelers.”

The property will be divided into “zones” aimed at different kinds of vacationers, from “party-oriented singles” to “couples seeking a do-not-disturb romantic getaway,” according to its Web site.

“This exceptional property is an exciting addition to the Preferred Residences portfolio,” noted Neil Kolton, Interval’s director of resort sales and service for the Caribbean. “Consumers who purchase a fractional ownership interest at The Point at Petite Calivigny will enjoy the authentic vacation experience for which Grenada is renowned, as well as the personal service they can expect from a Preferred Residences member resort.”