Ceremonial spades struck soil as the St Regis hotel broke ground in St George’s today.

Michael Dunkley, the Premier, said the day marked a “new lease on life” for the Olde Towne.

“This is a day when the community’s dreams become a reality, when years of dashed hopes and false dawns finally give way to a new beginning,” he said.

The project faced many obstacles and challenges over the last four years, the Premier said.

“We kept at it because we believed that if we stuck to the task, we could see our way to results that create jobs, support families, build community, restores pride and grows confidence — all the things that give meaning to people’s lives.”

Mr Dunkley called this a pivotal year for the parish.

“I believe we can say that 2017 will be a breakthrough year for the East End and a new beginning for Olde Towne.”

Representatives of Government, Marriott International, and developer Hotelco Bermuda Holding Ltd, were joined by local business owners, representatives with the Bermuda Tourism Authority, Quinell Francis, Mayor of St. George’s, and many others for the event at the former Club Med site.

The new hotel will feature 122 rooms and suites, an 18-hole golf course designed by Robert Trent Jones, and casino, among other amenities.

The project will be completed in three phases.

Miguel Purroy, principal and director with Hotelco Bermuda Holding Ltd, said the resort would be completed in three years.

“In 2020, on this very site, you will find a luxury hotel and at least two condominium buildings,” he said.

The project, he said, will create 300 construction jobs, “80 per cent of which are expected to be filled by Bermudians”.

Today’s groundbreaking, Mr Purroy said, marked the “end of decades of uncertainty and the start of a transformation for the site”.

Senator Michael Fahy, Minister of Tourism, Transport and Municipalities, said the project would benefit St George’s, as well as the island as a whole.

“There is no denying that there is a tourism renaissance alive and well in Bermuda,” he said.

“After decades of decreased economic activity here in the East End, this Government is proud to incentivise projects that finally bring St. Georgians much needed relief.”

The project, he said, was past due.

“I walk through this area almost every week, often annoyed at the abandoned hotel property on the hill,” Mr Fahy said.

“So, I am truly looking forward to this development becoming a reality.”

Kenneth Bascome, St George’s North MP and Junior Minister of Tourism, said the “great project” would benefit all of Bermuda.

“It is a project born in paradise,” he said.