A decision could be reached by the end of this month concerning St. George's Renaissance Consortium's proposal to redevelop of the former Club Med property in St. George's for an estimated total project cost of $210 million.

The consortium, led by Canadian-based group Quorum, had to submit their detailed proposal by May 1, however at the time of going to press, it could not be confirmed whether or not the proposal had been handed in on time.

According to the group's website, Renaissance proposed to create a European style cultural village that will integrate the new hotel of 126 rooms including 25 factional units and up to 110 low-rise residential units, set in a public square that will initially embrace existing theatre features and ultimately additional larger stand-alone theatre facilities.

Prestigious hotel chain, Four Seasons, which owns some of the most upscale hotels in the world, will manage the property if the St. George's Consortium reaches agreement with Government to take over the property.

Quorum stated the consortium was working extensively with the Ministries of Tourism, Works and Engineering and other departments of Government to ensure the appropriate mix of public domain stewardship with local and international private sector expertise.

Renaissance envisioned the entire development as a natural extension of the historically authentic Town of St. George's.

A combination of year-round programming of community events and cultural performances by both international and local artists is planned to compliment Bermuda as truly international destination.

The St. George's Consortium consists of Quorum as the lead promoter and asset manager, Lancer Corporation based in Toronto, Canada, Young and Wright Architects Inc. also based in Toronto, Cooper & Gardner of Bermuda, BESIX Bermuda Ltd., Artimart Corp based in New York and owned by Paul Epstein, Willian J.S. Boyle, the Executive Officer of Harbourfront Centre in Toronto, Bristol Limited based in Bermuda and John Sinclair, the managing broker for one of Bermuda's leading real estates.

The Consortium is currently working with an investor to come up with a financial plan for the complete development of the project which includes securing a long-term lease from the Bermuda Government.