A developer called Par-la-Ville Road North "the new Wall Street of Hamilton" in an application to build a six storey, 70,000 square foot office building on what is now a parking lot.

If approved, the building will become the second hi-rise on the eastern side of the road, which has three large office blocks abreast on the western side.

And Purvis Ltd. sought planning approval to build their mammoth 180,000 gross square-feet building on 31, Victoria Street.

Victoria Place is said to be the first "green" building in Bermuda to be built by a local architectural firm to special environmentally friendly guidelines.

Project architect Geoff Parker said there will be 70,000 square feet of rentable office space, ground floor retail, a restaurant and a health club.

Mr. Parker said he hoped the salvaging of an existing building near Victoria Street and Brunswick Street would begin in June and was expected to be completed by late 2007.

The Par-la-Ville development will see the continuation of the shortcut around the existing parking lot at #5 and an outdoor cafe area to make a "comfortable and attractive pedestrian environment".

On-site loading facilities will not block the street as there are ramps leading to the two basement levels.

There will also be a sculpture, or "public art", hung over the sidewalk which will "twist and orbit in the breeze".

Terceira House at #7 Par-la-Ville would be demolished in the process.

Architect Peter Terceira of Terceira Quarterly Associates admitted he "owned an interest" in Terceira House but did not know how old the building is.

In a letter to Planning Director Rudolph Hollis, Mr. Terceira called Par-la-Ville Road "the new Wall Street of Hamilton with its various expressions of commercial building style and a continuous street facade of covered arcades".

The in-principle application was submitted to the Planning Department by "State House Trust Company Limited as trustees for Terra Trust" on February 11.