Local Companies Named: Grand Atlantic Project

May 1, 2014

OBMI and Coldwell Banker Bermuda Realty have been named as the local companies that will work with international firm MacLellan and Associates to assist in the repurposing of the Grand Atlantic development into a new tourism product to be known as the “Bermudiana Beach Resort”.

Grand-Atlantic-Development-Bermuda-generic

A statement from Government said, “OBMI is a global leader in architectural design with an experienced team of professionals both in Bermuda and internationally. Founded in Bermuda in 1936 (OBM) is a co-author of the Bermuda National Tourism Master Plan and uniquely positioned to assist with the revitalization of the Bermuda Tourism Industry. The OBMI Principal for this project is Colin Campbell.

“Bermuda Realty Company Limited is one of the largest local real estate offices and offers services in residential and commercial real estate sales and rentals, land and valuation surveying, residential and commercial property management, vacation services and auctioneering. They are affiliated with the global entity of Coldwell Banker [since 1998]. The Principal for this project is Brian Madeiros.

“Caribbean-based hospitality, tourism and leisure consultancy firm, MacLellan & Associates, headed by Robert MacLellan, is the group currently involved in the re-positioning of the South Shore site formerly known as the ‘Grand Atlantic’.

“Last month they entered into a Memorandum of Understanding [MOU] with the Bermuda Government regarding this site. The MOU has an exclusivity clause through until late summer which will enable MacLellan & Associates and their local industry partners to finance the acquisition and associated development costs of the Project.

“MacLellan & Associates was on Island this week and met with Bermuda Housing Corporation General Manager Major Barrett Dill to discuss, among other things, timelines for completion of major works to transfer the Grand Atlantic Development into a tourism entity, overseas investors’ interest in Bermuda, and opportunities for future growth in Bermuda.

“The proposed redevelopment of the Grand Atlantic site will create a condo hotel which will make use of existing construction and bring a new tourism product to Bermuda that is very popular in other jurisdictions,” said Mr. MacLellan, who first came to Bermuda to work in the hospitality industry over 30 years ago.

“The team is confident that re-purposing the site can result in a new tourism-related offering which will entice vacationers with an array of amenities; a spectacular ocean side location; and numerous existing local business establishments who will benefit from an increase in demand for their goods and services and will work hard to make it a reality.”

According to Mr. MacLellan, the team he is assembling will be represented locally by architectural firm OBMI and realtor Coldwell Banker Bermuda Realty Limited; others will be appointed in due course.

“They are a solution-oriented group and I am looking forward to working with them” said Major Dill. “I am confident that this project will prove to be financially beneficial to Bermuda as well as one that creates employment and has a positive social impact.”

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  1. flikel says:

    I am still confused. The Grand Atlantic cliff was deemed to be unsafe by the OBA (I have heard both successful and unsuccessful candidates state the cliff is unsafe) and BEST.

    The buyers (MacLellan & Associates) stated that according to their independent research, the site (including the cliff) is safe.

    I feel duped and misled by our own Government and our leading environmental group. It is strange how the fears about the cliff suddenly went away once the PLP was voted out.

    • Mike Hind says:

      No. They didn’t.

      The concerns are still there. Please read the rest of the stories.

      • flikel says:

        Mike,

        McLellan commissioned their own report and concluded there are no issues. Furthermore, he made reference to other properties on the same system of cliffs. Very strange there was no safety fears about these other resorts.

        “But Mr MacLellan told the Sun: “We have been through the many geological reports and have commissioned our own.

        “We don’t believe there is a significant problem with erosion and it will not be an issue moving forward.

        “There are other resorts on South Shore with the same geological conditions.”

        • Mike Hind says:

          So… the conditions are still there… they just don’t have a problem with it.

          You’re acting like the OBA and BEST are backing off of what they said.

          They’re not.

          The new report has nothing to do with what the OBA (as you claim) and BEST had to say.

        • verbal kint says:

          “There are other resorts on South Shore with the same geological conditions.” A large part of the one next door ended up on the beach.

  2. nuffin but the truth says:

    WHAT Beach??? WHAT Resort???

    • Dirk Gentley says:

      They plan to build an ELEVATOR down to the beach. How quaint.

      How about the “numerous existing local business establishments”… is this the gas station?

      • Terry says:

        They did not far away when they filmed “The Deep”.
        Irony.

        • Farmer Giles says:

          Ironically, the ‘Deep’ elevator was iron too. ;-)
          IMHO, cut these guys some slack.
          They’re (not there or their)…. they’re trying to make lemonade out of a very big lemon – (general comment, not directed at you, Terry).

  3. Vote for Me says:

    It is all about the money!!

    Does Caldwell Banker believe the development is safe and the units can be sold?

    If yes, where were they when the units were offered for sale.

    I still vote for reducing the prices until Bermudians can afford them.

    PS – when wil we see the financial terms of the proposal?

    • Al says:

      Coldwell Banker do vacation rentals and property management, not just sales.

    • Jeff says:

      The Developer/Government didn’t allow agency involvement for the original sales. They were selling them direct which may have been part of the problem!

      • Come Correct says:

        The former government couldn’t sell toilet paper to someone taking a s***.

  4. swing voter says:

    Flikel the cliff face is unstable, consisting of soft glandular rock. We all know this. To arrest further erosion, monthly maintenance is required to ensure the buildings do not collapse and end up on the beach. The OBA simply told the truth of the matter, and Weekes struggled with telling the truth (i.e. first time buyers lined up to purchase)….no local in their right mind would purchase a unit considering the possibility that our broke azz govt might renege on the maintenance a’ la Gibbs hill

    • Serengeti says:

      Actually, I don’t believe there is any evidence the OBA said the place was unsafe. They said it wasn’t a good idea, and that it was a financial disaster. Both these things are true.

      I’m not sure what BEST said. I can remember them saying it was ugly, which, again, is true. I think the godawful ugliness of the place is what prevented buyers.

  5. When did Caldwell Banker become a Bermudian Company?

    • Al says:

      It is 100% Bermudian owned. Always has been.

      • Google caldwell banker

        • Onion says:

          Bermuda Realty Company Ltd. is a Bermuda company affiliated with Coldwell Banker (spelled with an “o”).

          It has been Bermudian owned since day 1.

    • Frank'N'Onions says:

      Probably the same time that Bermuda Realty became Century 21 and Rego Realtors became Rego Sotheby’s. They are just local agents for those real estate groups. Still locally owned real estate agencies – just now affiliated with international companies.

      I think the big difference between selling these units and having them as vacation rentals is that if there is to be unsafe further erosion of the cliff, a vacation property can be closed down and stop business. If multiple owners were to buy these units on a 25 year mortgage and 0% down (as the previous government was trying to do), there might end up with lots of individuals owning units that might become unsafe years down the road. The risk is then put to the owners of the complex (MacLellan & Associates), not the individual owners themselves.

      I would hate to have bought one of those places and find out 20+ years onward that the place is unsafe and I have to move out. Who pays me back for my effort and at what rate?

      The vacation rental concept seems to be the best compromise of keeping the value of the complex but not putting individual owners at risk. If MacLellan & Associates are ok with the risk, they are welcome to it.

      • Keepin' it Real!...4Real! says:

        You said it…but they won’t comprehend…rather just argue and trash people…i’m afraid for most don’t have a clue…sad sad times ahead…good part is they won’t know what hit ‘em…

    • Tip Toe says:

      Coldwell Banker Bermuda Realty has always been a 100% Bermuda owned company. Been around since 1950′s.

  6. ASA says:

    40 acres no mule, Coldwell Banker Bermuda Realty is 100% Bermudian owned and has been for as long as I can remember.

    • Terry says:

      What was it called before it became ‘Calldwell Bankers’.

      • Confused says:

        Jones Waddington and I think LPG merged with them

        • WTF says:

          Terry, put your glasses on, mate! It’s NEVER been named “Caldwell Bankers”. It’s Coldwell (with an “o”) Banker (without an “s) Bermuda Realty. Geebus, man !!

    • Merged in 1998 you must be a youngun if you can’t go back that far. No dis. Just facts

  7. Coffee says:

    Any private jet travel by the OBA to advance the deal?

    • Mike Hind says:

      Probably not. But you keep on slinging that mud. See how well it works.

    • Toodle-oo says:

      Who gives a ratz azz if it gets this financial monkey off of our back ? Just like it should have been irrelevant if the last jet ride that cost us nothing gets us hotel development without any plp style backhanders.

    • Kangoocar says:

      Coffee, every day you provide proof of the saying ” you can’t fix stupid!!”

  8. Rockfish#1 and#2 says:

    Bingo!

  9. Shrek says:

    Design the rest offit well,make it beautiful by 2050 it’ll need redesign anyway,I like feefs design…and Mermaid on the left side facing out,terracing,to address the shale angle on the 45° angle down and landwared…well the same angle down and out presumably terraced like mediterranian docks but with integral achitecture to an immovable dock breakwal utilising pylons knocked down at the front…it will only be strong as it’s foot’n…ask Mr Ross Menzie about the concrete mix….and appropriate grounding….honestly…I predict modular houseing that is anchored down ,so at some point it could break away and float anchored down shaped the withstand wind and waterdisc shaped with verandas and…again…terraced…beautiful…to compliment their surroundings…but by all means get something comming in for those condos….try Balcon realty….they tell me he could sell ice to the Eskimos!

  10. Forward onward and upward…rollin rollin rollin whooshttT! Rawhide!