Construction on the initial phase of a Four Seasons resort could start this year.

This evening a joint statement from Brickman Associates, which own the Coral Beach Club and Horizons Cottage in Paget, and Four Seasons was released, pledging a commitment to the Island.

Brickman acquired the property in January 2008, and received planning permission in principle to develop a 150-room hotel and 80 fractional units on the property in June 2009.

Tonight Roderick O’Connor, principal of Brickman, said: “It is our intention to commence the initial phase of the redevelopment later this year. Our plans for the initial phase include renovating several existing structures, and beginning construction on the amenity buildings and new hotel rooms.”

Scott Woroch, executive vice president worldwide development for Four Seasons, said: “Bermuda is an important market for Four Seasons, and we believe that the Coral Beach and Horizons properties are ideally suited for the development of a resort and residential offering.”

For the full story see tomorrow's Royal Gazette.