A Ritz-Carlton hotel in the heart of Hamilton, which is predicted to be ?the biggest new development the city has seen? has moved a step closer to becoming reality after the multi-million dollar scheme was granted a special development order.

And if everything goes according to expectations the groundwork for the hotel on the site of the current Par-la-Ville car park could begin in the early part of 2007. There are still some negotiations to be completed but things are on course for construction action within the first quarter of next year, according to a director of Unified Resorts which is heading the project on the Island.

Although the idea of a hotel being built on the car park site has been hit by false hopes in past years the latest project has crossed the first planning hurdle after being granted ?in principle? clearance. Architects will now come up with final designs for what is billed as primarily a business hotel with luxury residential apartments, a conference centre and boutique shops.

The world famous Ritz-Carlton name is included on glossy planning documents already submitted for the scheme.

It is anticipated the hotel will create 330 new jobs and inject $200 million into the economy.

It will have street level boutique shops along Church Street and Par-la-Ville Road, 150 guest rooms and suites and a further 60 luxury residential apartments including roof top gardens and a swimming pool.

And its position in the centre of the city?s financial district, directly across from the Bermuda Stock Exchange, is in line with the anticipated high proportion of business clientele expected to use the hotel. There will be landscaped grounds to the rear and a 20,000 square foot conference hall, two ?world class restaurants? are to be included with a top floor lounge and grill looking out from one corner enjoying commanding views towards City Hall and the heart of the Hamilton.

Unified Resorts director Donald Smith said: ?We are extremely excited about the opportunity to bring a world-class hotel outfit like Ritz Carlton to Bermuda.

?We believe Bermuda is poised for bigger and better visitor arrivals, particularly with the efforts of the Department of Tourism and the initiatives of Premier Ewart Brown. And we are looking for bigger and better things.?

It is anticipated the hotel will be a major boon for the financial and commerce sector of the city, offering lodgings and conference facilities in the heart of the international business district. Mr. Smith said: ?This is a business hotel and it is a viable option. For 35 years it has been difficult to get hotel rooms in the city.

?A lot of people have put a lot of work on this project. There are a few ?i?s to dot and ?t?s to cross but we hope to have it started before the first quarter of the year has lapsed.

?It is probably going to be the biggest development the city has seen.?

Approval of the hotel plan in principle comes only two weeks before the due expiration date of a period of exclusivity to develop the site on the corner of Church Street and Par-la-Ville Road granted by the Corporation of Hamilton.

In the planning application the developers indicated their eagerness to move forward and asked for the planning process to be speeded up.

?We believe the opportunity to have a Ritz-Carlton hotel built in Bermuda is of such significance to the Island?s future as an international business centre and a high quality tourist resort, that the planning process for the ?in principle approval? should be accelerated as much as possible,? wrote Theodore A. Adams III, of Unified Resorts Inc., in a letter accompanying the application.

The idea of a hotel on the car park site has had a chequered history with a number of previous proposals falling by the wayside, including an interest that was linked to the prestigious Regent Hotel group.

If given final approval the new hotel would bring much needed car parking spaces to the centre of Hamilton, with three levels of underground parking providing room for 500 cars.

Where the hotel backs onto the Par-la-Ville park there is a small amphitheatre and fountain area.

The park will be extended slightly northwards in ?overpasses? to the hotel and connect directly to the hotel?s courtyard. The hotel also has its own central courtyard area.

There would be 15,000 square feet of shops and the 60 apartments, varying in size between one, two and three-bedrooms, would be for sale to Bermudians and non-Bermudians.

Initial site plans submitted for in principle planning approval were prepared by Linberg & Simmons Architects.