5-star resort expected to bring new life to BT
Cabinet Secretary Samuel Rose and Beach Bay hotel developer JD Layton sign the deal
(CNS): A 200-room five-star hotel and 75 private condos planned for the Beach Bay of Bodden Town has taken a step towards becoming a reality after government signed an official agreement Thursday that will see construction start on the project inside twelve months. The investors involved in the project said the goal was to have the branded resort finished within two and a half years. The developers have been talking with successive administrations for around seven years but have now reached agreement with the government on concessions and are ready to begin submitting planning applications.
The resort, which is the first of its kind for the district, will be a branded hotel, though that has not yet been revealed, and will include a spa, restaurants, bars and retail space.
Describing the deal as “momentous”, Premier Alden McLaughlin said the government was devoted to the development of the country’s high-end tourism product and the project and all of the districts have to be a part of the country’s economic future.
“This development is going to be one of the largest of its kind east of Seven Mile Beach,” he said. “With this development, our tourists will be able to experience a new and vibrant part of Grand Cayman.” He added, “This is the first major hotel and condo development for Bodden Town, helping us fill out needed hotel room stock giving our visitors a tranquil experience away from the hustle and bustle of George Town and Seven Mile Beach.”
The project he said would also mean construction jobs and tourism jobs once it opens. The premier stated that Bodden Town had been bolstered with the opening of Cox Lumber, as well as other boutique shops and entrepreneurial ventures. “This new hotel is further evidence that this Progressives-led government is working diligently to bring jobs to the Cayman Islands and to the people who live in and around the district of Bodden Town,” he added.
Zoning changes have been made from low-density residential to hotel/tourism to help move the development forward, he added, alongside a concession package that will see government give up $25 million in import duties, stamp duty and on non-consumable material for the start-up of the facility.
“There will be no concessions on consumables or materials after the facility is in operation as we want to encourage these to be purchased locally,” McLaughlin said.
He added that government will receive income in the future from hotel room tax, visitor spend and, among other things, duty from the sale of the condos. He said that overall the project was expected to increase the Cayman Islands’ Gross Domestic Product by nearly 2%.
Tourism Minister Moses Kirkconnell said the development would greatly enhance the current tourism product, increasing the existing 5,200 rooms in Cayman, and it was a demonstration of confidence investors have in Cayman. The development will create over 1,000 jobs that “are meant for Caymanians”, the minister added. Of those, 750 jobs would be created during construction and then hundreds once it opens in tourism. In addition, he said, it would create a demand for tour operators, car rental, taxis, restaurants and other tourism attractions, as well as opportunities for young people, especially those attending the hospitality school.
John David (JD) Layton, the developer, said the project would act as a catalyst in the development of Bodden Town and offer an alternative to Seven Mile Beach. He said the resort was situated on a spectacular beach and secluded location, which, along with the superior infrastructure and warm friendliness of the Caymanian people, would allow the developers to compete successfully across the western hemisphere and for the resort to “become a Caribbean icon” that will help maintain Cayman as leading tourism destination.
He said that as guests of the Cayman Islands they would work collaboratively with the local people, working with suppliers, businesses and workers. He pointed to the numerous support services that would be needed and committed to providing employment for Caymanians as well as training and internships. Layton also said that BBLD would ensure that the project provided real financial benefit to the Cayman economy and Cayman-owned businesses.
Beach Bay Lands Development Agreement, signed 24 September 2015
Category: Construction, Local Business, Stay-over tourism, Tourism
