$80 million marina project on hold
New proposals sought for marina, hotel at Ordnance Island
Photos
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Big plans: How a previously proposed new marina at Ordnance Island would look. Though their exclusivity agreement expired, the developers of this project remain in talks with the Corporation.
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Photo by Mark Tatem Safe harbour: Visiting yachts line up alongside
The Corporation of St George's is seeking new proposals for a yacht marina attached to Ordnance Island after Leading Edge Ltd could not get sufficient funding for their plan, which included a boutique hotel.
Corporation Secretary Courtney Trott said yesterday the Old Town was still in talks with Leading Edge and they had the option of resubmitting their plans or putting in a proposal for just the marina.
However, he confirmed their exclusivity agreement to build a 60-room hotel and 100-berth marina alongside Ordnance Island had expired.
Leading Edge, whose principals include Jeremy Spencer and Chris West, had until December 31 to meet certain criteria set by the Corporation, including financing for their $80 million project.
The Corporation was providing the land now a parking lot and was to have the opportunity to profit from the development.
With the expiry of the exclusivity agreement, Mr Trott said Corporation officials had decided to open up the idea of building a marina “to a wider audience”.
“We are now soliciting proposals for just a marina operation attached to Ordnance Island,” he said.
The full Request for Proposal (RFP) is available at the Corporation and the deadline for proposals to be submitted is March 30, this year.
Mr Spencer and Mr West had spoken of their hope of breaking ground this spring.
“We are staunchly working on getting this done and are absolutely resolute in our intent to do this project for Bermuda,” Mr Spencer, a former project manager for PW's Marina and Atlantis apartment, told The Royal Gazette this past December.
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Published Jan 26, 2012 at 12:01 am (Updated Jan 26, 2012 at 6:29 am)