Video: Minister Scott On Grand Atlantic Units
The proposals submitted for the Grand Atlantic Development included ones promoting tourism use, senior residential use, and mixed use, and the Government is looking “preferably more towards the tourism use”, Minister Wayne Scott said on Friday [Sept 27].
The Grand Atlantic property was planned as a housing development, with the listed prices for the 78 units ranging from $495,000 – $665,000. Only one unit sold in the first six months, and the Government decided to solicit [PDF] requests for information from investors and potential buyers — local and international — for the 78-unit property.
Speaking in the House of Assembly on Friday, Minister Scott said eight proposals were received pertaining to the Grand Atlantic Development, and four entities have been shortlisted for review, with emphasis being placed on tourism use.
When asked what will happen with the one unit has been sold, the Minister said they have been in touch with the buyer of the unit, and “something will have to be worked out with them, because this unit as whole would go to whatever option we are looking at.”
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this should never have been built in the 1st place.
Agreed, but it exist and now we,(Bermudians)must make lemonade from these lemons…
Yet as some others do still await an answer to the question from the Minister Wayne Scott so do I and that’s,”If they weren’t safe dwellings prior to our General Elections tell us what has been done that makes them now “safe dwellings”?
Some of these units were deemed unsafe.
What work if any, has been done to make them safe?
WHO deemed these unsafe????
Please let us know what the selling price will be.
Why couldn’t the same price divided by total number of units be offered as the selling price as condos to Bermudians?
Why didn’t the PLP do that?
The PLP tried to sell them for a year. What has changed?
You are obviously a marketing genius. Yeah, why not just sell them for a bit less money? Obviously you submitted that as a written plan for consideration, right?
As a “Tourist” I would NEVER stay in a concrete jungle like that and be expected to pay hundreds of $$$ a day to do so!!! What a Joke!!!
Got that one right. Plus nobody is going to hike way down to the itty bitty beach below a rock face that is threatening to collapse on them. Imagine the liability insurance because of that!
Use for seniors just might work, after further modifications of course.
Many many years ago there was a plan to develop Southlands, next door, as a seniors community.
How about reducing the price by about $100,000 and see if anyone bites? I just don’t understand why Bermuda thinks it is so different when it comes to the principles of supply and demand. In the U.S. when a house or condo doesn’t sell, the price is reduced because nobody wants your product. What is Bermuda’s problem? Is the business community real filled with a bunch of dummies that didn’t take basic business classes? Or is it simply a case of arrogance and greed? If it is the latter I all these homes that have been on the market for years without price reductions continue to sit and sit and sit until you finally cave and reduce your price.
How about publicly asking for any ideas that people have about how best to approach the problem, waiting for written proposals, and then taking some time to pick the best one?
Oh right, they did that.
Sara I agree with you completely except that I believe they still would not move on a price reduction of just $100k. 2 or 3 hundred maybe. But even then maybe not.
The PLP dreamed up this $40million mess!
Sell them for $200,000 and be done!
funny how unsafe they were pre December 2012…now there doesn’t seem to be the safety concerns?
Where are you BEST and others?