(CNS): The crane being used by the general contractors on a Seven Mile Beach condominium broke local records this week when it was extended up to 202 feet, becoming the tallest structure in the Cayman Islands. The crane’s extension comes ahead of the anticipated completion of what will be the country’s tallest residential building. Following a controversial amendment to the planning law in 2010 that now allows developers to exceed the seven story limit up to as many as ten floors in the main tourist zone, the developers of WaterColours immediately adapted their plans to take advantage of the extra floors.

The luxury condominium complex, which is on the former site of the Beach Club and is set to be finished late next year, will be nine storeys of solid concrete with the seam roof then taking the new structure to the height of a 10 storey building.

One of the only new developments on Seven Mile Beach, it has “boosted the local construction industry by adding many jobs to the marketplace, as well as attracting international investors aiding the local economy,” said the realtors for the development Kim Lund and James Bovell of RE/MAX Cayman Islands.  Arch and Godfrey are the general contractors fo the project.

As the tallest residential building on Seven mile Beach, those rich enough to afford one of the condos on the top floors will have panoramic views and ocean vistas not offered anywhere else in Grand Cayman’s main tourist area.

The changes to the law were passed by legislators in July 2010, but so far the Watercolours building is the first to take advantage of the increase in height to 130 feet or ten storeys, whichever is less. The change only applies to properties in the Seven Mile Beach zone because, as the premier who is responsible for development and planning said, it was better to attract new development to the already more dense area.

“This will give momentum to the renewal of some of the older properties on the beach, allowing them to be renovated or rebuilt,” Bush said in the Legislative Assembly at the time.