Some units at Bermudiana Beach Residencies in Warwick are being rented out at a discounted rate, David Burt revealed in the House of Assembly today.

Craig Cannonier, the Opposition Whip, posed questions about the former Grand Atlantic property during this morning’s session, when he asked the Premier if he believed it had been a good investment.

During the Premier’s question period, Mr Cannonier suggested the entire project had been a waste of taxpayer dollars and still was not fully rented out.

Mr Burt responded saying that all units were “full” including some that were rented out at a lower-than-market rate.

The Premier said: “The units are fully rented.

“They are not all rented at market rates; there are units that are rented at discounted rates for Bermudians that are returning home, which is important because we are making sure that we use everything at our disposal to ensure that we continue to house Bermudians.”

Mr Burt added that he believed the investment was sound as it was built off the same model that delivered affordable housing at Loughlands — an earlier public-private partnership used to create housing.

When the Bermudiana Beach Residences project was officially declared open in April 2025, Zane DeSilva, the Minister for Housing and Municipalities, said that the units were available at rents ranging from $3,000 to $7,000 a month.

The Government has been asked for more information.