Contractor picked for proposed project

| 16/02/2015 | 0 Comments
CNS Business

James McVey, Ironwood Project Director, and Garth Arch, Managing Director, Arch & Godfrey

(CNS): Investors planning to develop a golfing resort and community in the Frank Sound area have signed a deal with Arch and Godfrey to build the town centre, officials have announced, but they remain in negotiations with government over the development of a critical highway. The Ironwood project is contingent on the extension of the east-west arterial road from Newlands to the proposed resort’s location, but no deal has yet been reached with the Cayman Islands Government after more than a year of talks.

Officials from Ironwood, who are partnering with Arnold Palmer to develop the 18-hole golf course and community resort, have said they want to build the $40 million road and then recoup their cost via the duty they will pay over the years on the proposed project but without the road there will be no development.

However, officials said Friday that their decision to sign a deal with a general contractor was an indication that as soon as a deal was reached with government, work on the $360 million development as well as the road would begin.

Ironwood Project Director James McVey said Arch and Godfrey was the contractor of choice because it is an established Cayman company “with more than enough talent and capacity to deliver the high quality product that we have planned for the centrepiece of Ironwood.  Strong relationships with good people is the most important component in putting together any project team and we welcome them to Ironwood.”

According to the developers, the town centre will be the commercial anchor of the proposed development, which would benefit surrounding communities with shopping conveniences, entertainment, and job and business opportunities.

The proposed project is one of many developments that government is depending on to boost Cayman’s economic fortunes and in particular reduce unemployment figures among local workers. However, despite offering frequent and public support for the proposed resort, it is more than twelve months since government signed an MOU with the developers and began talks over the public-private partnership for building the road.

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Category: Construction, Local Business

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