PLP Oppose “Attempt To Displace A Family”
The latest attempt to displace the last remaining residents of the Grand Atlantic Development is one that “we condemn and pledge to oppose with every measure at our disposal,” Shadow Tourism Minister Zane DeSilva said today.
In a statement earlier this week the Government said, ““The remaining lone occupants of the development have thus far refused all offers to relocate.
“The options given to the couple [Mr and Mrs Marshall] included an offer to transfer the family to a choice of properties valued approximately $200,000 more than their purchase price, a resale of their unit to the Government at a 35 percent return on their investment and an offer to have their unit independently appraised and purchased by the Government with costs borne by the Government. Talks continue to resolve this issue.”
In response, Mr. DeSilva said, “The latest attempt to displace a Bermudian family is one that we condemn and pledge to oppose with every measure at our disposal. The Marshall family have played by the rules, worked hard and achieved a goal so many of us share; owning a piece of the rock.
“Now in a typical OBA move of money over Bermudians, they are being deprived of their home at the Grand Atlantic and forced to give up all that they have worked so hard to achieve.
“The OBA campaigned on ‘a better way.’Reverting to the tactics of those who displaced Bermudians so others could profit is not a better way. Let’s learn from the cruelty of the past and seek a better way.
“This move is a monumental step backwards that Bermudians must oppose. Let’s broker a deal at Grand Atlantic that doesn’t deprive the Marshall family and move forward with this project for the benefit of Bermudians seeking work in the tourism sector and the revitalization of our tourism product.”
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When life gives you lemons…make lemonade!
Wish I has bought one of those eye sores now!
They better sell! Be dumb not to…
And Zane. There was only ever one family…
The better good for all Bermudians is of more importance…hotel – tourism – jobs…
…drink Ganga Tea lol
Zane. Are you smoking that ganja tea too? What the hell are you taking about cause it made no sense.
If he is so concerned for their plight, and that they might end up deprived of property, he should offer them one of his places.
I will NEVER vote PLP but have to say if a strategic investor, or prominent member of our wealthy business community had purchased this one Unit, the valuation would have been above $1,000,000 – based on the anticipated future HIGHER value when entire site is converted to a TOURIST resort and NOT AFFORDANLE HOUSING
I can bet the same company who now says a square foot is $100 per sq ft will say it’s $2,500 per sq ft when the refurbishing is done and change of use planning consent granted
OBA, my party, should do the right thing and purchase on a commercial basis given the reality of future use, exercising the Compulsory purchase legislation will do more harm for the larger transactions we need to consummate before we are voted out in 2017
That deal could fall through… Until that deal is done then the land and property is what it is…..
You cannot price something on what is could be if someone developed it.
I could by a piece of land for 500,000 and sell it for millions , because you could build on it, BUT NO the land would sell for around 500,000.
You don’t sound like an OBA supporter at all. My guess is you’re a paid PLP blogger. However, let me enlighten you…. The Marshall’s bought this unit because it was sold to them as ‘affordable housing’. It was not sold to them as a risk for investment purposes. It is also true that given the short amount of time they have had to live there, there cannot be much if any emotional attachment. So, to say they deserve more money because they ANTICIPATE xyz is crazy talk. The fact is, they are being offered a good, no, a great deal. They need to accept it.
That’s total BS. If the government wants to buy them out, do so at the valued rate that these places will change to when they re-market them as luxury condos. It’s amazing though . . .wasn’t these the same places that the OBA/UBP said were unsafe for people to live in??????
@sick n tired, let me help you understand the way real estate really works!!!! These people’s investment right now is worth ZERO!!!! If I was as stupid as them and bought one of the condos at that dinosaur of of a place and someone came along and ( our government of course ) and offered me a 35% return on my money, I would take it and run!!! Without that this outside investment moving forward, their home is worth NOTHING!!!! And this place will NOT move forward with them there!!!! I honestly believe if you and the plp continue this nonsense and not see the bigger picture, then it should be left to just fall down!!!! I am still scratching my head at how on earth did they get financing for that disaster???
And when it comes to Zane??? He of all people should STHU , when it comes to treating people fairly.
Sick n Tired, if the Marshalls want the government to pay whatever the unit will be sold for as a luxury condo they’re going to have to refit the units to the level they’ll be at if/when this deal actually happens. [And that doesn't count their share of installing elevators, redoing the grounds, and so forth.]
There is a degree of sense in what you say, however, it is just not practical. In an commercial enterprise, one does not buy something for the same price as one sells it, especially if there will be works/refurbishment involved. As it stands now, in the current market, the residence is actually worth less than what they bought it for, so unless the Marshall’s intend to refurbish the unit to the state that the developers will refurbish it to, why should the Marshall’s expect to get that price. The deals that have been offered represent a chance at a better home/investment. They may have some concern about getting a similar property with the offers, however, I would be interested to know how much they will appreciate their ocean view and quiet neighbourhood when their neighbouring units begin to fall into disrepair the empty units start being used by drug dealers and/or homeless.
Ultimately, I do not see why tax dollars should be spent trying to keep that complex in repair when there is only one residence, and it is of national importance to get them off our books as soon as possible, our future just can’t afford the mess that this development is. Maybe if the PLP had listened to what all the expects were saying about how bad a development it would be, the Marshall’s wouldn’t be in this mess, but then the PLP have never been interested in hearing what anybody had to say, unless it was the same thing they were saying. That is their idea for democracy.
“…. the last remaining residents”??????? Isn’t that really the problem here Zane? Let’s remind you since you have forgotten – they were the ONLY residents!!!
Its annoying that the PLP stand by the bull crap they put out there!! Really Zane, you get worse with time and so does your party !!!
Let them stay, build around them, it happens in other parts of the world. It’s called a nail house.
exactly. and hope they have enough money for the monthly maintenance fee.
Wow! Cold-hearted comes to mind. Remember that this family bought this house on fair terms and now they are being forced to move. But you don’t care. You want them to lose it all because the government decides to sell it to the highest bidder.
Tough Love, suggesting they will “lose it all” is clutching at straws. They will make out like bandits if they accept what is being offered for what is something that was over-valued in the first place! They are lucky they are getting such a generous offer. If they don’t accept it and the developer cannot proceed with the redevelopment, the whole place will fall to ruin at which time they wouldn’t be able to give the damned place away…. Greed is ugly.
How would they lose it all, the offers that have been given to them represent a chance for improvement, and given that the units values have only depreciated since they bought theirs, should they find themselves in the position where they would have to sell for any personal reasons, let’s face it, they wouldn’t be able to. Do you want to pay to keep their place in repair, because that is what you are doing right now, they are on the government books and are needlessly draining tax dollars that could be used to help our future.
This statement makes absolutely no sense considering the offers made and this is absolutely rich coming from Zane. You really want to talk about money over anything?
Correct me if I’m wrong, but weren’t they the ONLY occupants?
Hold out i’d say.
I can’t help but notice the misinformation Mr. DeSilva is distributing with this piece. He is claiming the government is depriving them of their right to own a piece of this island, not true, they have simply offered them a chance at a different piece of the island. In fact they are being offered their choice to a better piece of the island. I would be curious about exactly what deal he would offer them that does involve them moving out and would allow this project to move forward, as the only way for this project to move forward, is if the Marshall’s move out. And until they move out, this property is still on the government books and is thus a drain on all taxpayers, including the Marshall’s. The biggest shame here is that in true to their fashion, the PLP have stepped up to use this situation to play their selfish game of politricks, as always, party before country.
Zane, as shadow tourism minister you will let the development of an industry of national importance be halted and possibly disappear for one couple?
Ok Zane, what options will you put forward to assist? Leave the family there and let the rest of the units stay vacant? Your Government spent $40 million on a ill-conceived project in which Board members disapproved and now you complaining?
How much their property worth now? Much less than the $625 they spent.
IMO BHC should give them $900K and send them on their way. Rather pay $900K and get it out of the way instead of dragging it along which will eventually turn the prospective investor away.
The facts: The Marshalls paid $460,000.00 and NOT $625,000.00.
Depends on what bedroom unit did they buy, one or three?
They only paid so much below the list price because no one else was buying…
Hold on…
The Government has stated that they are still in negotiations with the family in question and nothing has been finalized with the family in question not being forced to take anything.
But the strange thing is that the PLP, in their above press release, says they are against having this family moved at all and then in the same statement say:
“Let’s broker a deal at Grand Atlantic that doesn’t deprive the Marshall family and move forward with this project for the benefit of Bermudians seeking work in the tourism sector and the revitalization of our tourism product.”
So in actuality they are pleased that their failed Grand Atlantic experiment is to be utilized to create jobs in the tourism sector and revitalize our tourism product offerings, but do not want the family to move?
I don’t understand…does the PLP want the family to stay and leave the rest of tehir failed experiment to rot, or do they want them to move and continue on with making their failed experiment a tourism product?
PS: I don’t see how offering the family a property that is $200k more than their original purchase price plus a 35% ROI on top of Government covering all closing costs as ‘depriving’ anybody. But then again it is their choice to accept or to not accept.
People are losing their homes and have been for over 5 years now due to the economy while others have seen their home values decrease since 2007 of between 20% and 30% (depending if it is a single home or condo). But then again this is the same Party which one unelected Minister, on a talk show a few years back, stated that it makes him smile to see all the for sale signs on the side of the road during the middle of a recession. So I guess this faux outrage by the same Party is an improvement on their past position of them being overjoyed at the fact that Bermudians were losing their homes.
They don’t want to see jobs and new tourist accommodation made under the OBA watch. Doesn’t make sense as the place is just a reminder of the many poor decisions made by his party.
“Let’s broker a deal at Grand Atlantic that doesn’t deprive the Marshall family and move forward with this project for the benefit of Bermudians seeking work in the tourism sector and the revitalization of our tourism product.”
huh?
Isn’t that what is happening?
I don’t have any problem with the Marshalls holding out for the best deal they can reasonably get but, for goodness sake, let’s not pretend that they’re fighting for their ‘Bermuda dream’. They want a better deal and that’s fine. For Zane to pretend that his stated position is anything more than his party trying to throw a spanner in the works of a positive Government project is laughable. Just admit you’re being deliberately obstructive and mischievous and that you’re happy to use the Marshalls in that regard. We weren’t born yesterday, Zane. That said, good luck to the Marshalls and I hope the Government can turn this into a win/win situation for them and the taxpayer.
Take the deal people , don`t let Zane screw it up for you ! Take it and run already .
So, we just take a 50 million dollar hit and keep the entire development “as is” for the beenfit of one family?
“Let’s learn from the cruelty of the past and seek a better way”
What is your suggestion Zane?
Will someone tell the PLP knuckleheads that being the Opposition does not mean you have to oppose everything…..have another march …..
Oppose even if it means that many other families have jobs?
Take the money people….that is a great return…..just say “Monty…..I’ll take the money( upgrade),…….I know I would…..ping pong balls belong on a ping pong table…..don’t let politicians use you ……this is my point.
I agree – take the money! The government is basically bailing you out of the worst financial decision of your life (i.e. buying a unit in Grand Atlantic) and giving you what is likely the biggest return on any investment you’ve ever made.
Marshalls – count your lucky stars this worked out this well.
Are they kidding?! Whose mess is this in the first place?!
OK, so PLP and ZANE, please pay the $50 million, promise to maintain the whole site out of your own pockets.
Do that and I think all is fine.
If you leave that family there on their own, then they will lose out. Is that what you want. a family to be in a derelict location that invites crime. Their property will be worth nothing at the end of it.
Stop using people as political pawns PLP. These are people, not points scoring opportunities.
If these properties were so great and you think it’s great to own one, why didn’t ZANE buy one.
Am I the only one kicking my self in the a$$? I should have bought one of those units for “whatever” the price… and in 4 years get a 35% return on investment???!!!!!! Ouch, I just bruised myself. And they say property values are decreasing.
Besides….it was theirvgreed that built these high rises on a cliff face anywho…..you know what I mean?………can you see?…….now you get bozo the clown dat didit standing there honking his nose …
Pointing his finger at his own creation….sayin it’s terrible…….get real…..get a real job….
Well Zane
It was your government that put us in this mess from the beginning affordable housing lol!!! And now we inherit this mess just buy the people a house with water views and be done with it end of subject
Let’s tell the truth here. They were interested in one place but not at a cost above the current obligation. If Govt. really wanted to move forward they would move them where they were shown but later told an increase in payment was required. Eat the cost and get on with your plan.
maybe if your decision to design and implement this affordable housing wasn’t such a bad one, the family wouldn’t be in this situation
So a 35% return on their investment and being re-housed in a property worth $200,000 more than their current property is a move of ‘money over Bermudians’?? Very rich coming from someone like yourself given your track record Zane.
The OBA are trying to make the best out of a bad situation, created by the PLP, and you are simply taking this as an opportunity to turn it into a negative like your party alsways does.
Look at the bigger picture and stop being trying to fight everything the OBA attempts to do, it makes you look even weaker than you already are.
Was their initial purchase price heavily discounted by govt in order to make the sale? Maybe that $200,000 over their purchase price would add up to the original price govt was selling for. So in reality,it might leave them with that $650,000 or whatever it was for the going rate for a 2or3 bedroom place up there. Where can they go and buy a brand new 3 bedroom condo for that price? Maybe someone selling a condo up Whalewatch for cheap. Perhaps that housing was affordable afterall…considering..
There are many condo’s on the market for $650; for which we can also thank the PLP.
“Let’s broker a deal at Grand Atlantic that doesn’t deprive the Marshall family and move forward with this project for the benefit of Bermudians seeking work in the tourism sector and the revitalization of our tourism product.”
Ok so seeing as offering them $200k more or a 35% return on investment in this market isn’t working, what do you suggest, Zane? No solutions. Only obstructions and hot air.
Nothing to see here folks. Just the Regressive Labour Party doing what they do best. Let’s prevent more jobs from being created, stir up resentment any way we can (even if we have to look back 100 years), get our supporters to march and vote us back into power. Somehow, someway, against all reason and good sense, this will probably end up working. Dance puppets dance!
“The options given to the couple [Mr and Mrs Marshall] included an offer to transfer the family to a choice of properties valued approximately $200,000 more than their purchase price, a resale of their unit to the Government at a 35 percent return on their investment and an offer to have their unit independently appraised and purchased by the Government with costs borne by the Government. Talks continue to resolve this issue.”
How exactly is this depriving the family? Looks to me like they hit the jackpot.
I agree. This family has brought the only ticket to the islands first lottery and it just so happens its the winning ticket. CASH OUT WHILE YOU HAVE OPTIONS!!!
This is in no way displacement and the PLP know it!!!! The terms offered are excellent terms and why they are not going of fit is beyond me!!!
I just guess this family will have to deal with a hotel being operated around them.
Where did our $300,000*150 = $45,000,000 go?
This is even more hilarious than PLP’s most recent string of embarrassments. PLease PLP – you should fire whomever is giving you advice.
This is brilliantly stupid. Even Not The UMUM couldn’t come up with such ignorance. PLP you have outdone yourselves. Thank you so much for my daily laugh. You have become the lauging stock of Bermuda and likely other countries too. I did not realize such stupidity existed. Thank you PLP for not letting me down with your constant idiocy.
There is clearly no limit to how low PLP will stoop to ruin this country. You are simply too embarrassing for words. You should be committed to St Brendans the lot of you.
The PLP don’t want the family to move but state they look forward to this development providing tourism jobs and improving our tourism product?
Which one is it PLP?
I would hardly call the offer put forward as ‘depriving’ given the state of the real estate market in the last 5 years or so. Receiving a 35% ROI in less than 5 years of owning a property in a depressed real estate amrket where the exact opposite has been occuring in terms of property values is far from depriving anybody. It is akin to hitting the lottery in this market, But then again it is their (family) decision as to what they receive in compensation. And so despite Mr. Desilva’s claims no one is beign forced into anything.
What utter nonsense!!! The PLP left us with this giant white elephant and now are attempting to scupper plans to move the property forward. The details of any deal between the family involved and government should be kept exactly that between each party.
I seriously doupt that they are trying to displace the family as stated above. More along the lines of relocating at a 200k more than current value relocation.
Good grief.
Someone please explain these two statements:
1)
The options given to the couple [Mr and Mrs Marshall] included an offer to transfer the family to a choice of properties valued approximately $200,000 more than their purchase price, a resale of their unit to the Government at a 35 percent return on their investment and an offer to have their unit independently appraised and purchased by the Government with costs borne by the Government.
2)“Now in a typical OBA move of money over Bermudians, they are being deprived of their home at the Grand Atlantic and forced to give up all that they have worked so hard to achieve.
The opposition has failed to explain the issue or the media has failed to report what the opposition is trying to say. Besides the obvious attempt to stir up emotions with the ‘reverting to tactics of the past…’ comments, what are they trying to say? Was the offer of 200k above purchase price too low?
Some people in today’s Bermuda are a little more intelligent than the PLP would give us credit for. I’m not going to react to attempt to stir up emotions with empty vacuous rhetoric.
PLP please follow this up with what your actual issue it.
Exactly; but unfortunately Bermuda has the largest percentage of Sheep per population and tools like Zane know this. Throw in an issue with a little emotion to get them going and let nature take it’s course.
As with the PRC and Land Grab lies they tell people; it’s just about getting folks restless.
“Some people in today’s Bermuda are a little more intelligent than the PLP would give credit for”
They appealing to the rest…
SMDH
Real question would be, if they are to be relocated at a 200k above purchase price place, will their monthly mortgage be increased as well?? This is something that no one has even touched on or looked at!!
Let it go Zane.
You guys built it not on solid ground to waste and make monies.
Have a chat with Noah.
He did not build a Ark on top of Ararat on a slope and hope for the best. Too much labor and wood to carry there. Plus the solid ground he built it on is still there.
(appendix) Was a bit soggy for a while but it’s all good.
Swizzel thyme…………………………..
Haha you mean Money over Bermudians for PLP! Where you think all d money went?!
Sounds like a pretty good deal they got offered to me!
Ohka Zane, you make it sound as if they are having their home taken away from them, I wish I could get a deal like that $200,000 more than what I paid for my house, or a 35% return on what I paid. Stop trying to lie all the time and tell it like it is. The Marshall’s, and I feel for them, were the only people who purchased one of those units and I totally understand their hesitation to move, but don’t you go and spread more lies, I thought you were a better person than that, sadly mistaken and judging from history I should know better.
“The options given to the couple [Mr and Mrs Marshall] included an offer to transfer the family to a choice of properties valued approximately $200,000 more than their purchase price, a resale of their unit to the Government at a 35 percent return on their investment and an offer to have their unit independently appraised and purchased by the Government with costs borne by the Government. Talks continue to resolve this issue.”
Those offers would not displace ANYONE. Three (3) very generous offers even with a slumping market. Each would put the family at a higher standard after “achieving the Bermudian dream”
How is offering to pay MORE than the value of an item a ‘step backward’?
Deprived of their home?
Forced to give up?
I dunno, Mr. DeSilva, a 35 percent profit in a couple of years in a downturned real estate market sounds like an awfully good deal to me.
I imagine they would be able to purchase a much nicer, larger home with that.
So lets hear your ideas Zane.
No one wants to displace people but sometimes sh*t happens and a 200,000K return on a 2/3 year investment sounds pretty good to me as does a 35% return. so Zane, don’t say they’re being forced to give up all they have worked so hard to achieve when the government is trying to broker a reasonable resolution. Bet if you were offered those terms you’d be out of your house like a shot.
In fairness the basis for the valuation is looking at comparable 3 bed condos, in the similar areas, with ocean views etc etc
We already know that the basis for the valuation of a hotel resort or tourist accommodation (THE NEW USE OF GRAND ATLANTIC) is to use a Net Present Value or Earnings Multiple approach based on the anticipated cash flows coming from the new Tourist Resort (Bermudiana) or if you are going to sell as higher end fractionalise
Therefore, the $625,000 and even the $895,000 valuation figures are flawed, you would need to look at the same valuation and cash-flow model being used by the developers to raise funding (or investments) for th enew resort, as the sq ft basis for the current one unit being occupied by this Family
Surely a Technical Advisor somewhere within Government would have highlighted this to the Bermuda Housing Corp or Cabinet Office?
The compulsory purchase route will create negative publicity for the Government which it can ill-afford.
wrong. the comparable value is not for a 3 bedroom with ocean views. it is for the same ‘affordable’ house they purchased. they were offered this property because their finances were such that they were given a significant discount. they were given this NOT as an investment opportunity but as an opportunity to own a govt assisted housing project.
DCF may not be the best tool IMO since they are just in initial discussions regarding the property and DCF is very sensitive to changes.
For example they may use a block or part of a block other than for accommodation or they may add more units which would serious effect the DCF value.
Since the property is not a hotel/resort yet – and nothing is certain, using the comparative method appears to be logical..
The new tourist resort requires investment which has not happened yet. They can’t reasonably expect a valuation based on investments which may be made by others, and only after they have left. The valuation should only contemplate the current value of their home, i.e. a cheap condo in an ugly government development that no one wants in its current state.
They’re lucky to have a way out at all, frankly.
Have you forgotten this was a low income housing project? They possibly also received a discount incentive since the condos weren’t selling. Apples and pears with the price of other waterfront condos in the area.
I would expect no less from the PLP and its MR DeSilva. Negative in every issue, I swear they just say anything that will be opposite to what the govt says.They did such a great job of ripping us all off and now they oppose anything for the sake of being against anything productive from the govt that at least has the PEOPLE of BERMUDA in mind.
wish someone wud offer me 35% ROI on my crappy condo! As for standing strong for Bermudians?….yeah right, whose bright idea led to this situation in the first place? Do I hear a contractor/developer hysterically laughing all the way to the bank?
Absolutely and a good friend of our Dr. Brown no less
As the Shadow Minister of Tourism, I would have thought that Mr. DeSilva would have been on board with the plan to add to Bermuda’s current tourism product offering.
For all sakes the current family living here can milk the cow for all its worth and try to get a better relocation offer from Gov’t. Moving homes sucks, there is no denying it. Lets just not make this into a bigger issue that it should be.
The truth is that despite their best intentions, this development didn’t work out as planed by the PLP. Time to move on.
Notes for Zane
From: James Herald
Subject: Future things to complain about.
1. The sea level rising. This is clearly an OBA tactic and they are doing it specifically (by brimging in huge ocean liners)to disadvantage PLP supporters. Get a point in that Zane’s company could do land reclamation.
2. The sun rising in the east. Again this is OBA at work for non Bermudians. Everyone knows that Tuckers Town is in the east and mostly foreigners live there. Bermudians in the west disadvantaged by this uncaring foreign loving OBA.
3. One day the wind blows and the next day it doesn’t. This is due to indecision on the part of the OBA. Why can’t they just make the wind blow the same every day? Get something in about Grass Roots Bermudians sufferring here.
I can add more later Zane OK..
Zane. FFS. They ate being offered 35% more than they paid, and two other options if that isn’t good enough.
It’s a compulsory purchase in the interests of Bermuda.
It’s to rectify a PLP eff up. One of your total eff ups that cost us, in this case, $60m.
Obviously you hate PLP problems being sorted out, but get over it. FFS grow up.
Nope, just Bermuda moving forward under OBA…. The PLP/BIU will NEVER allow it.
Sad for Bermuda…..
You f***ing kidding me Zane? Give me 35% on my house, which has probably DECREASED in value by at least 25% (thanks to your party) and I’ll take it and run!
But no, let them stay, and when they start complaining about how uncomfortable, inconvenient and noisey it becomes you’ll probably ‘oppose’ it then too, and then you’ll … I dont know.. probably start a march..
Anyone could see this was a PLP / BIU setup from the start.
“Now in a typical OBA move of money over Bermudians”
You mean like when your Govt put Bermuda and us BERMUDIANS in a $2 billion hole?! You mean like that? Do us all a favour and sit down and be humble for once.
THe Marshalls purchased a unit in a govt assisted housing project…. to say that the comparable remuneration should be anything more than another govt assisted housing project unit + 35% + $200,000 is ridiculous.
It seems that the PLP are prepared to sabotage Bermuda simply to hamper progress made by the OBA. Doesn’t the PLP realize that we are all in the same boat. Perhaps they don’t care about Bermuda.
Oh come on! The only reason that ONE unit sold is that the previous administration needed to put a placeholder down while the controversy was going on about the development. I’m sure that there were plenty of qualified buyers who applied to own one of the units.
Bad cliff face or not, eventually someone would have had to take responsibility and do some remedial work there. No sitting government would ever have allowed the development to just “fall into the sea”.
It could be just that the current owners need a bigger incentive to pull up stakes and leave, although 35% return on investment in this economy is nothing to take lightly. Or it could be that they are being greedy, thinking that holding out is going to benefit them more. Or maybe they think that staying is making some sort of statement against the current government.
Whatever it is, it might end in tears.
Several board members at the Bermuda Housing Corporation quit after they were told a controversial Warwick housing development was to go ahead — despite their warning that they were not viable.
A source close to the corporation when the controversial 2009 decision to push ahead with the Grand Atlantic project in Warwick said: “The entire housing corporation board voted unanimously against the project.
“In fact, some people left the board after the decision was made.”
The source added there were “a number of reasons” board members red-carded the plan to buy 78 of the units at the site, with an option to buy the remaining 47 later if sales went well.
The source said: “They are extremely small units and, for $700,000, you could not consider them low-cost housing. The board didn’t like the design or the cost.
“In addition, the housing market had been saturated — there was no need for it. They were probably better qualified to understand these matters at the time.”
“There was supposed to be a hotel and that was way off the scope of the Housing Corporation.”
The source, said, however, that the board was told Cabinet wanted the plan to go ahead and brushed aside objections.
The Minister responsible for the BHC at the time was Lt Col. David Burch, while Dr Ewart Brown was Premier.
_______________________________________________________
See what happens when Government Minister’s, with no relevant experience in such matters, overrule individuals who do know what they are speaking of. I guess someone had to get paid.
Zane hasn’t given one single solution that is better than what the OBA has given this family. All he’s done here is added hyperbolic language. As if this is some how connected to the “struggle”. It’s not.
This is just Politics 101.
That’s a fact, Zane hasn’t offered one single alternative to the present situation facing those wanting to redevelopment that “eye-sore” I pray they can resolve this “ignorance” before the developers pull out to leave only the Marshalls there
Typo: facing them wanting to redevelop that eyesore…
Take the money and start over,in this real estate market this tends to be an incredible investment.I know not having the view and the neighborhood is a loss.Their are some good old cottages you can buy and renovate over time,take the deal you won’t regret it.
Zane you have been drinking far too much of the green Kool-Aid, you really need to drink some Milk so you can see more clearly. We need to get the Marshalls moved to another Condo so we can get the new project moving for the Grand Atlantic. The new project will make more jobs for more than one family and more money in the country. Tell the Marshall’s take the extra $200,000 and run. Zane you gotta come up with a better fight you are looking pretty GREEN!!!!
This is comong from the Party that gave Tuckers Point a massive SDO over objections from Green Rock, BEST, former land owners at Tuckers Town etc. etc…
Zane you have the gall to say money over Bermudians with what happened under the last government,and no please don’t mention our great ferries,let’s not beat that dead horse.Damn I fell under the same crap I dislike and made it political………sorry.
and Zane had the gall to describe the existing minister of Tourism as incompetent the other day – well people in glasshouses should not throw stones – this has to be one of the most foolish things ever to leave his lips (to date)
ok lets take a break with these “ganja tea” references because it just nullifies any other words you may utter…kinda makes those who make these references nothing more than programmed repeaters, because if you had done the research yourselves, then you would NOT be making unintelligent comments as such, hence the lack of understanding in your comments.
I read many of the responses with great amusement. Thank you.
This seems to be a matter pertaining to finances; I would like to hear how David Burt, as Shadow Finance Minister, would weigh in on this conversation (I would presuppose that Minister Richards is already a part of the negotiations).
Do you agree with your colleague’s position? Is this a unified and collective position?
Finally, in the macro-economic view of this situation…”the big picture”…what exactly would you suggest here?
Regards,
Leon L. Bascome
Let me guess, Zanie lent them the money to buy in the first place ! Why else would he be saying such stupid things?
MR,DESILVA,MR,DESILVA,MR,DESILVA,
Your worries about one family losing housing when the govt im sure is going to sweeten the deal!
Where are all the employeess at the St,georges golf club. Because there not hired at that magnificant hotel that was built!!
Just saying and no i dont support OBA, If anyone has read my previous blogs, i think Bermuda isto small for party politics.I support RIGHT AND FAIRNESS,no matter whos in power.
This is a case of two different Political mind sets here.
The OBA wants one thing and the PLP want another. — but how about what the people want.
The Grand Atlantic Housing complex never really got going the way that it should have because of the down fall of the economy.
The OBA would simply like to sell them to the highest bider to get some badly needed money – but the Govt. of the day is not thinking
that one day in the near future the next generation will be looking for affordable Housing and they would have to build again to
accommodate its need. – the former UBP had to – so did the PLP – now its the OBA’s turn to do so.
The decisions made now will affect Bermuda 20 years from now. — not to mention the next election.
They should take the money and run,in this day and age and the state of the world ecnomies they will not get a return on their money in such a short period of time.
As mentioned before, in reality these places are worthless without the project going forward.
What is wrong with this picture, the Marshall’s will get a better home for their money, probably not much of their own personal money was put up front to move into the” Grand Distaster” as the PLP were doing their darnest to get people to move in with enticing financing.
If I had my way, they would have been imploded ages ago saving tax payer grief.
Zane stop flapping your lips.
adjective: disingenuous
dis·in·gen·u·ous
ˌdisinˈjenyo͞oəs/
not candid or sincere, typically by pretending that one knows less about something than one really does.
synonyms: insincere, dishonest, untruthful, false, deceitful, duplicitous, lying, mendacious;
hypocritical
“that innocent, teary-eyed look is just part of a disingenuous act”