Work in progress:  Developer Gilbert Lopes says he is pleased with the development of the  former Golden Hind site in Warwick. The first phase of construction began in June and is expected to be completed by next summer. Pictured above is an artist’s impression of what the 100-room hotel will look like. *Image supplied
Work in progress:  Developer Gilbert Lopes says he is pleased with the development of the former Golden Hind site in Warwick. The first phase of construction began in June and is expected to be completed by next summer. Pictured above is an artist’s impression of what the 100-room hotel will look like. *Image supplied

The Grand Atlantic build is well on track and progressing well according to developers.

The $150m project will see 125 low cost homes as well as a 100-room hotel built on the former Golden Hind site in Warwick.

Construction work began at the end of June and phase one of the project is in full swing.

Three buildings, which will contain 24 units, are already visible on the South Shore Site.

Electrics

Most of the electric work and plumbing has been completed in the structures.

While the roofs should be finished off by the end of this month.

The first phase of the project, which entails the completion of 78 of the 125 residential units looks set to be completed in May 2011.

Developer Gilbert Lopes said he was pleased with the way the project was progressing.

He added: “We are well in control of what is going on.

“And everyone involved is making good progress in their individual areas.

“I am pleased with the way it is going at the moment.”

The affordable housing complex will be made up of 30 three-bedroom units and 95 two-bedroom homes.

First time buyers

They will be sold to first time buyers for between $500,000 and $625,000.

Developers Atlantic Development Bermuda Limited are in charge of building the complex, which will be called the Grand Atlantic Hotel and Residences.

Work on the new three-star hotel is expected to begin at the beginning of next year.

The second phase, which will also begin at the beginning of 2011, will see the next 27 units erected.

The project is being financed by the Bank of Butterfield.

The housing project takes up just under half the budget while the hotel, 20 fractional units and commercial space will cost around $80m.