The Corporation of Hamilton is set to name a new developer to build a luxury city centre hotel and residential complex, The Royal Gazette has learned.

The Corporation is assessing bids from three developers for the site at Par-la-Ville car park and will make a decision within the next few weeks, said Corporation secretary Roger Sherratt yesterday.

It will then enter into detailed negotiations over a lease.

In February, the Corporation pulled the plug on Bermuda-based T.G.

International Investments Ltd -- with which it had an exclusivity agreement - after running out of patience when the company failed to deliver the project.

The company was given the exclusivity agreement in 1998 for a $100 million, 140-executive suite hotel with 19 apartments and underground parking.

Mr. Sherratt said yesterday he is hopeful this time that the development will materialise.

"I would like to think so because we have been impressed by the potential developers,'' he told The Royal Gazette .

"I think we are dealing with people who have a good chance of success and its nice to be in the position to be able to choose and to have potentially high quality developers interested in the site.'' He said all three bidders met the criteria of building a high quality city centre hotel, primarily aimed at business-people, with residential units and an underground car park.

The Corporation is keen to encourage city centre apartments to cut down on traffic, save Bermuda's open spaces, and help revitalise Hamilton.

Mr. Sherratt would not disclose the identity of the bidders, but said all three were Bermudian with an international connection.