VIRGIN GORDA, British Virgin Islands -- The former Old Yard Inn, demolished last year to make room for an updated guest room and apartment complex, will contain 77 studio, one-, two- and three-bedroom apartment units when completed next year.

Carol Kaufman, owner/director of sales, decided to sell the land on which the former property sat and "start from scratch. Land values are skyrocketing in the B.V.I., but my business was not bringing me an adequate return. The units were outdated, had no kitchens. I went to a developer, we formed a partnership and I have sold 35 apartments thus far."

More than 75% of the units will be in the rental pool; Kaufman said rates will be "moderately priced and the facilities geared to families and extended-family groups."

Rates at the property, now called the Olde Yard Village, will range from $1,800 a week for a studio or one-bedroom unit in the summer season to $3,000 per week for a three-bedroom unit during the Christmas holiday. Commission will be 15%.

Each unit will have a fully equipped kitchen and maid service; facilities will include meetings facilities for groups up to 60; tennis and squash courts; two pools; boutique shops; a laundromat; and Giorgio's poolside restaurant.

For details, visit or call (800) OLD-YARD.

To contact reporter Gay Nagle Myers, send e-mail to [email protected].

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