Wedco could open up leases
Restrictive leases which have hampered Dockyard?s redevelopment plans could soon by changed, sparking a wave of home building in the historic former naval base.
Housing supremo David Burch said Government is set to increase the 21-year lease limit to 99-year terms. For years the West End Development Corporation?s (Wedco) project to transform the Victualling Yard by adding 56 houses for sale has been stalled because of the lease straitjacket.
Wedco wants to transform two large, run-down buildings on either side of the Courtyard behind the Frog and Onion. One is virtually empty and the other was gutted in fire and has stood roofless and in danger of falling down ever since.
Wedco had hoped to use cash from revamping the site to help fund other developments.
Lt. Col. Burch, who is head of both Wedco and the Bermuda Housing Corporation (BHC) told the leases would be changed in the forthcoming session of Parliament which starts early next month.
He said: ?That is my understanding. That is for all three quangos, BLDC (Bermuda Land Development Corporation), BHC and Wedco. The support is there. But I think there is some reluctance to give blanket permission to quangos to draw up their own.
?There will be some mechanism in place where Government has the ability to vet them, either through Cabinet or the legislature. I think it will be 99-year leases.?
But he said there is some support for 121-year leases and for the ability of quangos to make a case for longer terms.
He described himself as ?ecstatic? over the potential of Dockyard and Southside.
He said: ?I think in the East End and the West End the opportunities are tremendous. The ability to deliver more than has been delivered, with the three quangos working together, has been greatly enhanced (compared to) what each one of those has been able to do thus far.?
There are a number of elderly, terraced houses in Dockyard which needed refurbishment, said Lt. Col. Burch. ?There is a plan to completely renovate those houses as well as have some new build in that general vicinity,? he said.
?There are plenty of opportunities in Dockyard.?
But he expressed frustration at the wasted opportunities for housing people in the West End and has ordered a report on more than 30 empty properties. ?There are a number of properties in Dockyard that are watertight, appear from the outside to be quite normal and liveable with some minor work,? he said. ?I don?t have an adequate explanation why they are vacant for so long and what is needed to correct the problem.
?If the answer is because someone has been sitting on their duff and not doing anything then I am going to be a little bit more than frustrated.
?But if the answer is lack of funding then I can go and beat somebody up and say you gave me 18 months (to do this job, so) I need money.?
Wedco General Manager Lloyd Telford and other Wedco staff failed to return calls and emails from yesterday.
Meanwhile Lt. Col. Burch, who is soon to take over running the BLDC which has the empty 250-acre Morgan?s Point under its wing, said a clean-up is needed ? but not for immediate housing development.
?When I get responsibility for Morgan?s Point, I think we need to do something about the clean up,? he said. ?It?s been a number of years now and technology advances. There has to be some way of cleaning it up that doesn?t mean the $50 million figure that?s been bandied around. We have to go someway to doing something about it.?
However, he conceded it was a double-edged sword as it would then tempt greedy speculators.
?Every proposal I have seen starts with ?You clean it up and hand it to us to make millions?,? Lt. Col. Burch said.
?I personally am not in favour of developing it at this time. I would vote for it to be used as a land bank for future generations of Bermudians.?
