Edgewater Development Ltd

68 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 12 EDGEWATER DEVELOPMENT L IMI TED “We are currently closing in on 50% sold on phase two about two and a half weeks after sending the notifications. Sales are going extremely well, and we plan to break ground for phase two in January 2023, with a planned build-out of about 20 months.” Besides these projects, Edgewater also does general contracting work around Grand Cayman, including an extension of the Georgetown fire station, a new sports hall for the island’s archdiocese, and a community center in Bordentown that will double as a hurricane and storm shelter. “In addition to our general contracting arm, we also manage properties, including short and long-stay rentals.” With a full-service internal team, Edgewater can take on most real estate projects, from design to management. The company also uses this capacity for good, undertaking occasional community projects at no fee. “We have done community projects where we assist with home and roofing repair and provide housing at no cost. Even though we do not yet have a continuous program, we are very involved in participating in the community and helping when we can.” With the COVID pandemic wreaking havoc on global supply chains, Edgewater found itself in a similar position to many other companies, having to innovate and adjust to offset these challenges. “We’ve traditionally depended on the United States for all our materials,” explains Bergstrom. “However, the pandemic and lockdown showed us that wasn’t the smartest way forward.” “We’ve had to adapt and look to other markets for supply. We now purchase from the Asian, South American, and Caribbean markets. We’ve also had to become a little more creative in how we do our purchasing.” “I’ll give you a good example.” “We were buying materials from Mexico and shipping them via the West Coast port of Encinitas. However, the port had a major backlog due to congestion at the Panama Canal. So, although as the crow flies, we’re fairly close to Mexico, so we couldn’t get our shipments out within a good time due to these factors. We even tried trucking through Texas and Louisiana to Florida to ship it out, but the cost was too prohibitive.”