Govt: Brookfield Project Is A ‘Major Investment’

January 23, 2024 | 8 Comments

“The development of Brookfield Place is a real and tangible demonstration of the significant confidence that investors have in Bermuda as a premier business centre,” said the Minister for the Cabinet Office, Vance Campbell “following the Brookfield Place planning approval decision.”

A Government spokesperson said, “The public will be aware that last March, Brookfield originally announced its plans to build a state-of-the art Class A commercial office building with supporting ground floor retail at 91 Front Street, Hamilton.

“The building will house the global headquarters for Brookfield Reinsurance and each of Brookfield’s Bermuda-domiciled listed affiliates: Brookfield Property Partners, Brookfield Infrastructure Partners, Brookfield Renewable Partners and Brookfield Business Partners.

“Construction on the site is expected to start soon, and the building will also provide space for corporate and commercial tenants looking to lease international calibre office space in the City of Hamilton. The development is projected to create more than 100 jobs.”

The Minister explained that “much of the commercial development over the past 10 years has largely taken place on the western outskirts of the city. Also, investors in Bermuda have noted that there is limited space potential due to the lot sizes in the downtown area, so the fact that Brookfield wish to develop on the eastern side of the city must be celebrated”.

Minister Campbell added, “It’s widely acknowledged that Front Street has been impacted with a loss of store fronts. This site, in its current condition is a visually unappealing aspect of the Hamilton landscape. The Brookfield project will serve as a major investment that will not only transform the area, but translate into more jobs and opportunities for Bermudians. It will also mean expanded economic growth for our island. So, this site represents an opportunity to showcase the possibilities in a renewal of this area of the city.”

Minister Campbell said, “Notwithstanding the challenges with the height limitations, the benefits of adding new commercial ‘Class A’ office space and in particular, retail on the ground floor, will most certainly contribute to the vitality of the area. In fact, the developer is working with the Corporation of Hamilton directly to enhance and redevelop the public walkway of Chancery Lane.

“This is very exciting, as Chancery Lane provides connectivity for pedestrians between Front and Reid Streets, and historically has its own special charm and character, so we look forward to seeing the enhancements to this area. Quite simply, this is a significant investment which will have a far-reaching, positive impact in Bermuda’s economy, generating opportunities throughout the community.”

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Comments (8)

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  1. watching says:

    This will be a facelift for that area and could spur further development in that area. Without it, this building will continue to sit there and become fall apart. I am pleased to see action being taken in this regard.

    • hey says:

      It won’t spur further development in that area, the arbitration building at the old police building was cancelled. Also more incentive to develop now on the other side of the Cabinet House, so I very much doubt it. Although @ Watching, you are in the rank and file of the PLP party, so maybe you know something, care to share?

  2. kevin says:

    This unfortunately is what happens when you have a government so desperate for any injection of business. Not saying this is going to be a benefit for us or not its just a shame we have to jump at any crumb that may drop. When you dont have a real solution these projects become paramount for helping the economy. With an election on the horizon the plp are scrambling to show in any way they are working for us. Its just a shame that for 3 years they are useless and all of a sudden things come to life …Smoke and mirrors

  3. Joe Bloggs says:

    “following the Brookfield Place planning approval decision”

    Was there a “planning approval decision” to allow the scope and scale of the development or was there a political approval of the development?

    I was under the impression that the DAB refused permission for the development as presented but would approve with some modifications (including removal of the top floor).

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