Developer Don Burkett is set to complete the purchase of the closed Lantana resort next month, can reveal.

The American businessman confirmed yesterday he anticipates buying the Sandys property from owner John Young in June to transform the site into an upmarket spa, housing, hotel and marina complex.

And he said he will shortly will be unveiling the name of a five star management company which will run the resort.

Mr. Burkett, who has been working for more than two-and-a-half years to put the deal together, said the award last month of a Hotel Concession Order was the last major piece of the jigsaw needed for the development to go ahead.

Speaking exclusively to yesterday, he said: ?I anticipate going to purchase some time in June and breaking ground in the summer.

?It is great news that we have got the Hotel Concessions Order because that gives us the trigger to go ahead and close.

?That was the big thing that we had to get. We now have every intention to go ahead. We are thrilled and very excited.

?We?ve got good news for Bermuda and good news for Bermuda tourism.

?Bermuda in general is going to be very excited when we announce the name of our five star management company.

?I would like to pay tribute to the Bermuda Government. This is a development process and it is a long process.

?There is a real partnership now. Every time we have had a bump in the road we have been able to work through it, and the same thing with the Lantana Trust. I?m not sure we could have done this if we had not all been working together.?

Mr. Burkett plans to turn Lantana, which closed in 1998, into a hotel, conference centre and spa resort with a tennis club, golf academy and 35 yacht marina.

The Sanctuary and Spa at Lantana will also see waterfront homes, 40 spa suites with 54 bedrooms available to guests year round, 28 condominiums with 40 of the rooms leased back for a minimum of six months a year, and six private cottages with ten bedrooms.

The company plans to upgrade 40 of the existing 56 cottages into luxury spa suites, and to replace some of the others.

The project has dragged on since December 2001 when the initial plans were submitted. Then, the company said it hoped to begin work in July 2002 with the total development completed in December 2005.

Paul Lesuer, the president of the Lantana Colony Club ? which owns the resort ? said yesterday he was unable to comment because the property has not yet been sold.

The Lantana news comes three weeks after Bermudian entrepreneur Ramadhin (Rammy) Smith unveiled plans with former Ritz Carlton President Horst Schulze for a new 100 bedroom $80 million hotel in South Shore, Warwick.

Neither Tourism Minister Renee Webb nor Acting Tourism Director Deanna Wade could be contacted yesterday for comment on the Lantana deal.