Ground has been broken on a multimillion-dollar project to build an executive condominium complex in the west of Hamilton.

The West Hamilton Holdings Limited development is expected to be a significant boost to the Island’s construction industry and will create about 80 new jobs. The seven-storey condominium complex, which is called Belvedere Residences, is located on Pitts Bay Road in Hamilton overlooking the Bacardi building’s lawn.

The condo block will be made up of eight two-bedroom units and a penthouse suite, as well as a squash court and gym complex.

Yesterday morning Premier Michael Dunkley joined West Hamilton Holdings Ltd executives as well as others involved in the project as the 16-month project was launched.

Harrichand Sukdeo, chief financial officer for West Hamilton Holdings, told The Royal Gazette: “This property is aimed at the executive type who prefers urban living, which is close to work and close to amenities.

“We do not have a figure for rent at present. We intend to sell four of the two-bedroom condos and place the others on the rental market. We have already expressions of interest for all four units that will be for sale, but none for the rental ones at present.

“Each condo will provide a generous patio space overlooking the Bacardi lawn and looking out to the Great Sound and Hamilton Harbour.”

The main contractor for the project will be BCM McAlpine, while a further 22 subcontractors are expected to be used during the construction process. The development is being funded by West Hamilton Holdings and a loan from HSBC Bermuda. The designs, which were put together by Bothelo Wood Architects, were submitted to the Department of Planning in June 2014. They were approved by the Development Applications Board in November.

Michael Collier, chairman of the board at West Hamilton Holdings, said: “The board recognises that this country is in dire need of new products and also we need to create and find new employment opportunities.

“We are able to get on with the project because everything that is required, like planning permission and funding, has been approved. We are very pleased we can participate through this project and help get people back to work. Once completed, the development will also create further jobs through its concierge, squash and gym facilities.” The gym and squash court will be leased to Court House Squash and Wellness Club to run under an agreement with the developers. West Hamilton Holdings have also submitted plans to increase the capacity of the Belvedere car park from 307 bays to 447. The proposals, which involved the construction of an extra two floors of parking, were submitted to the Department of Planning in November.

Mr Dunkley described the new condominium project as another “significant step” towards restoring confidence in Bermuda’s economy.

He added: “I was delighted to participate in this groundbreaking by West Hamilton Holdings Ltd.

“The event is an indication that there are positive things happening in our economy. It’s estimated that this project will provide a boost of around 80 jobs, and the Government is very encouraged by the commitment shown by Michael Collier and his team. This is a tangible demonstration of confidence in Bermuda’s workforce and economy and we wish West Hamilton Holdings Ltd every success with this project.”

To find out more about the new condominium project call West Hamilton Holdings on 295-5985.