Vexed Bermoothes

So far we’ve heard that:

• Government has provided an SDO for the development of the Grand Atlantic Resort to develop a 220-room hotel with nearly 70 residential units for international buyers as well as a two story retail centre.
• That Government will amend that to build a scaled down 100-room hotel with 125 low-cost homes for Bermudians next door.
• Local radio news reports that Government wishes to invest up to $50 million in the project, and a local developer (who built the housing project on the site of the Loughlands hotel) is interested in the housing component.

What we haven’t heard is:

• Who are the local businessmen behind the Grand Atlantic Resort?
• Whether the Grand Atlantic Resort has any agreements with international hotel management companies?
  
• Where the $50 million would come from?  At what real cost or opportunity cost to the tax payer?
• Whether the combination of a luxury resort and low cost housing are complimentary?
  
• Whether the cost of $400,000 per unit for the low-cost housing is a good investment versus other options?
• Whether Government would hold any ongoing equity ownership in the resort in return for its financing?
• Whether Government will ensure that the Southlands property next door will be converted into public parkland/greenspace as part of this high intensity development?

These are important questions, and it is distressing to see that they are not being answered forthrightly.

Update:  some answers now are leaking out.