The Atlantis complex on Parliament Street was hailed yesterday as a new way of city living for Bermuda that could start the regeneration of Hamilton, according to Premier Alex Scott.

Mr. Scott officially opened the 60-unit apartment block yesterday which was developed by Sir John Swan, who finally unveiled the fact that the prices of the one and two bedroom apartments would start at between $600,000 and $800,000.

?Housing is a priority for this Government,? said Mr. Scott, speaking to The Royal Gazette after the opening.

?And there is no silver bullet to solve this problem, but this is one response, one way of looking at solving the problem.?

Mr. Scott said that the apartments would be ideal for business executives who wanted to walk to work and find entertainment in the city centre without having to buy a car or bike and go on foot.

?It could give new vitality to city living,? he said. ?It has a pool, a gymnasium, a roof terrace ? which is spectacular ? all within walking distance of the city.

?It would be ideal for the executive, the single parent or a small family. It will once again help rejuvenate Hamilton after dark.?

Sir John said that the building was the result of four years from getting the funding and had developed a site that had been vacant for between 22 and 23 years.

?This building sets a milestone in housing in Bermuda,? said Sir John. ?We have taken half an acre of ground and put 60 units. And not just 60 units but 60 units of quality.?

And he said that the development would help ease some of the housing crunch on the Island, freeing up other homes as residents who wanted to move closer to work left houses in other parts of the Island.

And he hinted that there could be more developments of this kind should Atlantis become a success.

?I think there is room in the City of Hamilton and we should see more of these kinds of developments,? said Sir John. ?It proves that if you think hard enough and work hard enough, you can find a solution.?

Top executives from both local and international business attended the opening which included a tour of six furnished apartments, the pool and gym.

Henry Smith, chief executive officer of Bank of Bermuda, Brian Duperreault, chief executive of ACE Ltd. as well as the heads of BF&M, Argus, Allied World Assurance, Jardine Matheson, PartnerRe and Coldwell Banker were all in attendance.

Kimberly Webb, a sales associate at Coldwell Banker, who have an exclusive deal on selling the apartments, said that the interest generated had been phenomenal.

?I know we have some deposits down already,? said Ms Webb. ?But today we had enquiries from people about buying not one apartment, but two or three. They are perfect for the executives who come in to the Island on a regular basis or work here.

?The interest has been extensive and we have had a lot of questions and a lot of feedback.?

Sir John said that he did not believe that any sales had been made on the day, but that by next week they should have an indication of how it was going.

The plush complex, which is the first residential development in Hamilton in the last century, includes a heated swimming pool, on-site deli, gymnasium and communal rooftop sun deck.