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Scott: Five proposals for Grand Atlantic complex

Government has received five proposals from investors looking to take over the Grand Atlantic development.

The proposed projects could see the Warwick property used for tourism, as a seniors’ residence or mixed use.

The closing date for applicants was May 23.

“On behalf of the Bermuda Housing Corporation, the Bermuda Government’s Office of Procurement and Project Management issued a request for information both locally and in the international market in order to obtain an expression of interest and an initial response from qualified investors,” Community and Cultural Development Minister Wayne Scott told the House of Assembly today.

He continued: “Mr Speaker, I am very pleased to announce that five proposals for the use of the Grand Atlantic property were received by the closing date. Mr Speaker, although I am not in a position to reveal the details of the proposals at this time, I can report that the proposals included ones promoting tourism use, senior residential use and mixed use.

“Mr Speaker, the proposals will be carefully reviewed and the preferred proposal will be recommended to Cabinet for consideration and approval to proceed. Further information will be provided to the House at a later date.”

The Grand Atlantic complex on South Shore, Warwick.

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Published June 07, 2013 at 1:22 pm (Updated June 07, 2013 at 1:21 pm)

Scott: Five proposals for Grand Atlantic complex

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