Grand Cayman - Cayman Reef Resort Info Needed

We are headed down to Grand Cayman in mid-January for some diving and beach
time. Yes, I'd rather go to Little Cayman, but we want to have some fun, hit
the beach, etc.We've quickly discovered how expensive it is, but we'll deal
with it.

Does anyone have any feedback on the Cayman Reef Resort (condos). They seem
to actually be on a decent stretch of beach, affordable, and somewhat
reasonable for that area. Trip Advisor states they're still closed, but
other booking sites indicate otherwise.

http://www.tripadvisor.com/Hotel_Rev...n_Islands.html
http://www.caymanvillas.com/html/CaymanReef.html

Specifics:
Are the units open?
Would you recommend staying there?
Has anyone booked with