Video: Bermudiana Beach Residences Opens
[Updated] The Bermudiana Beach Residences have officially opened and “nine units at Bermudiana Beach are occupied, with thirteen more under agreement, and eight local real estate agencies are engaged in ongoing tenant showings,” the Government announced,
Speaking at a press conference today, Deputy Premier and Minister of Housing and Municipalities Zane DeSilva said, “It is an honour to join you today as Bermuda’s Deputy Premier and newly appointed Minister of Housing and Municipalities, to officially open the Bermudiana Beach Residences.
“This project has had a long and complex journey—navigating global market shifts, public health challenges, and evolving development goals. Originally envisioned as Grand Atlantic, it has now been successfully reimagined into a vibrant, residential beachfront community. Despite the many hurdles, we are proud to deliver a completed project that enhances the island’s housing stock and raises the standard for modern living.
“I wish to acknowledge my predecessor, Lieutenant Colonel David Burch, whose unwavering commitment helped guide this development through its final stages. Thanks to his leadership, and the continued hard work of the Bermuda Housing Corporation, we now welcome 94 newly completed residential units, featuring:
- 25 studio apartments
- 25 one-bedroom units
- 28 two-bedroom units
- 16 three-bedroom units
“These thoughtfully designed homes form a multi-family community ideal for young professionals, couples, and small families, and include beach access, fitness areas, a pool, and space for future amenities such as a restaurant and spa.
“While the expected rental values—ranging from $3,000 and $7,000 per month—reflect the property’s exceptional quality, amenities, and location, we recognize that this development is only part of the solution. The urgent need for truly affordable housing remains, and we are committed to addressing it. And that is the critical next step.
“Today, while we celebrate this success, we also acknowledge the larger challenge: Bermuda needs more affordable housing—urgently. That’s why the Ministry of Housing and Municipalities will immediately intensify efforts with our partners, including the Bermuda Housing Corporation, Bermuda Housing Trust, and the private sector, to accelerate the production of accessible, affordable homes for Bermudians.
“In the coming weeks, we will present a medium – to long-term housing strategy focused on the following prioritizes:
- “Affordable rental developments targeted at low- to middle-income households
- “Rent-geared-to-income programmes for working families
- “Innovative use of land and derelict buildings
- “Public-private partnerships to expand housing opportunities
- “New solutions to address the needs of single parents and young Bermudians trying to enter the housing market.
“Already, nine units at Bermudiana Beach are occupied, with thirteen more under agreement, and eight local real estate agencies are engaged in ongoing tenant showings. With estimated annual rent revenue of $6.1 million, and additional Requests for Proposals underway for a restaurant and wellness centre, this site will continue to evolve and serve as an anchor development for the Warwick community.
“Let me be clear: this is a step forward, but it is not the destination.
“The journey continues—and the next phase is about affordability, inclusion, and equity.”
Update 7.32pm: Shadow Minister of Housing & Municipalities and Home Affairs Michael Fahy said, “Today’s press conference opening the Bermudiana rental units is a typical smoke and mirrors announcement by the PLP.
“With rental values ranging from $3,000 to $7,000 a month it is hardly going to inspire those in need that this Government is truly capable of helping them. The truth is this project was disgracefully managed and is indicative of the way this administration makes poor decisions. The project was first designed to be affordable housing many years ago with a hotel also to be built.
“Under the PLP the hotel element slipped away completely and now we are left with a white elephant. I hope Bermudians do benefit but this is hardly affordable housing.
“I suspect that Lt. Colonel Burch was invited to shoulder the blame for this debacle. Hopefully Minister DeSilva will not allow such expensive projects to proceed under his watch. Bermudians deserve better.”
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A monument to the PLP’s economic stupidity and incompetence. Taxpayer funded expat housing. Any room for parking for 94 units and visitors?
Even if fully occupied the income is insufficient to repay the cost. Nothing left for maintenance, and just wait for that bill to arrive.
The Bermuda Housing Corporation sadly has a dismal record of maintaining properties for which it is responsible. Just ask the tenants at Harbourview Village in St. Davids.
total cost for the whole project over the years since inception, including full compounded cost of borrowing?
Well done Minister Desilva and congratulations to the partners working together to make this and other projects possible for lower income families and Bermudians.
Look forward to future works. Keep it up bie
“Grand Atlantic, it has now been successfully reimagined”
If I had over $100 MILLION to invest in building a property I might have done better. Oh, and 9 of 94 units rented is successful?
And “eight local real estate agencies are engaged” in trying to rent the other 85 units? At an average of $1,064,000 cost per unit I would have thought they would be much sought after