Developers thank Govt for its ‘support’
The owners of the Fairmont Hamilton Princess Hotel have thanked Government for its “support and efficiency” in helping a redevelopment programme for the flagship resort move forward.
The Green family purchased the Hamilton hotel a year ago, and work has already begun on a $70 million refurbishment programme — including a new marina, upgraded rooms and a new pool and landscaping.
Government aided the ambitious project by passing laws to give the family a $14.2 million tax break on the facelift, while planning approvals were also steered through expeditiously.
Alexander Green, on behalf of the family, said: “We would like to thank the Bermuda Government for their cooperation in moving quickly with planning and building control approvals.
“It is hard to believe that we have started work less than a year after we purchased the hotel, which is a testament to the efficiency of the Government and their desire to work with businesses to get projects off the ground as soon as possible.”
The family received planning permission for Phase 1 of the renovations in late spring and broke ground on September 17.
Andrew Green added: “We are currently hoping to develop a building in London which we bought before the Princess and we are still waiting for all the necessary permits because of red tape.
“We look forward to phase one being completed next summer and commencing on phase two in fall 2014.”
Premier Craig Cannonier said the development demonstrated Government's commitment to assist in “renewal and recovery”
“We applaud the Green family for the confidence they have tangibly demonstrated in Bermuda's tourism product,” the Premier said
“Their many investments will add to our mandate of renewal and recovery for Bermuda and Bermudians. I'd also like to thank the Economic Development Committee and in particular the Minister of Tourism, Shawn Crockwell, for moving this project along so swiftly.”