Victoria Place is set to become Hamilton's latest hub of business activity when Bermuda's first ever LEED (Leadership in Energy and Environmental Design) accredited or 'green' building is launched next month.

The development, which was designed and constructed by Purvis Projects, headed by CEO Geoff Parker snr. and his son and architect Geoff Parker jnr., and is both environmentally friendly and energy efficient, will comprise no fewer than eight companies.

Risk Management Solutions and Wind River Rensurance will move into the first and second floors of the South buildings new premises respectively, while a two-level Latin restaurant will open its doors in a few weeks' time.

The main buildings at 29 Victoria Street opposite Appleby are expected to be completed and filled by Ariel Re, Lombard Odier Darier Hentsch, Hannover Re, TBI, Wakefield Quinn and Brown & Co.

There will also be a health club/gym and squash club, health store, dentist and retail shop, while the Bermuda Sloop Foundation will be headquartered in the building.

Latin, which will be run by business partners Phil Barnett, Don Dunstan, Marius Dier and Tom Carr, who own and operate the Island Restaurant Group, consisting of the Hog Penny, Barracuda Grill and Pickled Onion, will feature a Latin restaurant, Spanish-themed bar called Rumbar and the Java Jive cafe.

Mr. Barnett came up with the idea when he returned to Bermuda, became a partner in the company and set up the Barracuda Grill six years ago.

"I wanted to create something that is vibrant and has a long and possible life cycle to it," he said.

"Five or six years ago British-style pubs, Italian restaurants and sushi bars were in fashion, but Latin food is still one of the fastest growing food segment in North America and when you consider the amount of Spanish-speaking countries in the world it just makes sense to start a Latin restaurant.

"To a certain extent it is a natural fit in many ways. I just personally love the food, the vibrancy, the spices, the ingredients and the flavour of what it is - it is all about the experience."

The restaurant, which will include everything from tapas to fish, seafood and paella, will target the businessman and firms in the area, catering for the power lunch or the business dinner to party gatherings or the intimate dining experience.

It will seat 50 to 60 people in the main dining room, with the outdoor balcony overlooking the courtyard housing a capacity of 40, and the whole operation will be run by a 25-strong team made up of executive chef Derek Myers, who has worked for the Island Restaurant Group for five years and taught cooking in Mexico City, sous chef Pedro Garcia and manager Robert Saunders, both from the Barracuda Grill, JP Sariava, formerly of the Hog Penny, and Elaine Lima, of the Pickled Onion. Mr. Barnett, who is also the president of the Chamber of Commerce, said the Chamber had already made a booking at the restaurant for 200 to 300 people for its Christmas party.

Rumbar, which will boast the Island's only 'raw bar' complete with fresh oysters on ice, will seat 25 at the bar and offer a range of cocktails and tapas, while a VIP room will be available along with see-through glass to opaque seclusion at the flick of a switch for corporate functions or private events and a dancefloor is on hand for the salsa dancer or late night reveller.

Java Jive will seat 15 to 20 and offer sandwiches, coffees and pastries.

Mr. Barnett has also embraced the concept of the 'green' building and the new restaurant will install water cooler refrigeration instead of air cooled and use low voltage LED and non-incandescent light fittings where possible to reduce its carbon footprint.

Java Jive's opening hours will be between 6.30 a.m. and 3.30 p.m., Latin from 11.30 a.m. and 2.30 p.m. for lunch five days a week and 5.30 p.m. to 10 p.m. weekdays and 11 p.m. on Saturdays for dinner seven days a week, while Rumbar will stay open until 1 a.m.

"I think it will just be a little bit different and that we are starting to explore a new side of Bermuda," he said.

"My partners and I are very concerned about what is happening with the current economic situation, but the good news is that it has really forced us to look really carefully at our pricing and where we think we have been able to drop prices we have done so.

"It is done now and we have done it at a significant expense - anybody in Bermuda knows that a 3,000 to 5,000-square foot building is going to cost about $2 million to $4 million.

"But we are incredibly grateful to the Ministry of Finance for really kick-starting certain areas of the economy, specifically hotels, restaurants and retail businesses because everything is twice as expensive in Bermuda including labour, shipping and other costs."