The best partnerships are often born of friendship, as the trio behind Davenport Development will attest.

Established in February 2007, the company has completed one successful development after another, quickly establishing itself as one of the premier real estate developers in the Cayman Islands.

Ken Thompson and Ray Hydes have known one another since childhood, having both grown up in Cayman. Paul Pearson was employed as general manager of Hard Rock Café, then owned by Ken Thompson. Paul therefore got to know Ken and through Ray.

Looking for a change from the hospitality industry after Hurricane Ivan in September 2004, Paul approached Ken with the idea of starting a property development business. The pair invited Ray to join them, recognising that each had valuable skills to contribute.

Paul, who had travelled the world during his years in the hospitality industry, had gained extensive project management experience and had developed a unique management style, a skill he continues to use every day in his role as managing partner.

Ken, whose family owns Island Taste, had a wealth of business experience having owned and operated restaurants in Cayman for 25 years.

Ray, along with his father and brother, had set up Hydes and Sons, manufacturing aluminium products and hurricane shutters 20 years beforehand. He had also just finished building Willow Point on Poindexter Road in Spotts, so brought his construction experience to the table.

The guiding principle behind Davenport Development’s projects is, and always has been, affordable luxury. After Hurricane Ivan, Paul saw there was a gap in the market for smaller, more affordable homes, but homes that would be built to the highest standards nonetheless. He, Ken and Ray had a vision of beautiful, well constructed homes that could be sold at reasonable prices.

Their earliest developments were aimed at first and second time buyers – those looking to get out of the rental market, says Paul. The first project the trio embarked on was Valencia Heights on Crewe Road, a 33-unit apartment complex that offers the sophistication of Seven Mile Beach, but in a more affordable area and conveniently close to George Town.

Set amid lush landscaping with a large pool and children’s play area, each unit offered well lit, open rooms with high ceilings and crown moldings. Kitchens featured all wood cabinetry, granite countertops and Whirlpool appliances. All aspects of the development were finished to the highest of standards.

“The greatest challenge was creating such a place for the specific low price we wanted,” says Paul.

“[We also had to] change people’s minds in Cayman that you can get an excellent product designed and built for a reasonable price. Also, it was just after Hurricane Ivan and labour prices were at a premium .. .. that was a challenge considering we wanted to sell at a specific price.”

They clearly met these challenges head on and just a year after the company was formed, in February 2008, Valencia Heights was completed.

Success was almost immediate, with every unit sold out soon after completion.

Davenport Development’s cooperation with Scotiabank no doubt contributed to this success, enabling many who had previously been turned away, to secure mortgages.

The next development, Lantern Point, was begun in October 2008. Built in three phases, the private residences features a more European than Caribbean style, with Spanish tiled roofs, spacious patios or balconies in each apartment, elegant balustrades and the signature lanterns that lend the complex its name.

Located at Old Prospect Point, the development boasts three pools and tropical gardens and is only minutes from the amenities of Grand Harbour and just a little further from George Town.

Many would be tempted to sit back and take a breather, following the highly successful completion of two major development projects; not the driving forces behind Davenport Development, however.

Phase one of their third development, San Sebastian, was competed in June 2011. This upscale gated community lies across the road from South Sound Beach and offers convenient access to schools and George Town services.

Designed to maximize the outdoor living opportunities that the Caribbean climate offers, the town houses are positioned around the free form swimming pool and are surrounded by lush, landscaped gardens with fountains and water features. Each home is accessed via a private gated courtyard and has a flat roof terrace, some with sea views.

Inside each home the attention to detail is impeccable as well. Granite counter tops, solid wood kitchen cabinets, stainless steel appliances and solid hardwood floors are just a few of the beautiful interior features.

It is the attention to detail, both in integrity of structure and in the interior finishes that has set Davenport Development apart from the rest. “Every inch of the design of the properties is carefully examined. We build as though we will live in the developments ourselves,” says Paul.

In all of their projects Davenport Development builds solid structures, designed to withstand the ravages that hurricane season can bring. They use Insulated Concrete Forms in all their walls.

These lend tremendous strength to the structure and are also excellent insulators, which in turn reduce utility costs and are more environmentally sound. The roofs are of the highest quality and windows are Winguard Hurricane windows from PGT, which means no hurricane shutters are needed.

Their latest two projects have marked a move into new territory, leaving behind the affordable community model and venturing into ultra-chic South Beach style luxury homes. The Opus I and II project, which is due to be completed in early 2012, will be situated on a reef protected beach ridge in the prestigious and exclusive Old Prospect neighbourhood.

Dramatic in concept, the striking black and white façades only hint at what is to be found within.

Entire walls of glass exploit breathtaking ocean views, and the sophisticated yet simplistic open plan interior takes further advantage of the waterfront position. Each of the 6,000-square-foot residences will feature an L-shaped pool, wine cellar, vast master suite with private terrace and 26-foot ceilings in the living room.

The most recent project, which began in May this year, is the equally impressive and luxurious Crystal Cove, a development of six private family homes overlooking the North Sound. Designed for boat people, each home will have a private boat slip and a magnificent rooftop infinity pool, among other chic features.

In just over four years Davenport Development has put its name to some truly exceptional developments in Cayman. Styles may run the gamut from traditional Mediterranean to avant garde South Beach and homes may range from one bedroom starter homes to five bedroom luxury beach houses, but the quality of construction, value for money and craftsmanship that goes into each and every home is consistently top notch.