Grand Atlantic condo deal close

A deal could soon be struck on the sale of the Grand Atlantic property in Warwick.

Bermuda Housing Corporation (BHC) bosses have remained tightlipped over negotiations to sell the controversial site.

But the Bermuda Sun understands that a significant announcement is expected very soon.

The BHC has received a number of proposals for the site after it issued a ‘request for information’ on the 78-unit residential housing scheme on South Road last year.

Some of the schemes are believed to have included plans to install elevators from the homes down to the beach below.

Finalists

Last September, Community and Cultural Development Minister Wayne Scott revealed that four ‘finalists’ had been shortlisted for the property — all of which had an emphasis on tourism.

Yesterday Major Barrett Dill, general manager of the Bermuda Housing Corporation, said no final decision had yet been made.

He told the Sun: “The Grand Atlantic property has not been sold.

“We are still in negotiations with interested parties, both local and overseas.”

However, the Sun understands a major announcement over the future of the site is expected to be made shortly.

The Grand Atlantic site has been the subject of much criticism from local residents as well as the environmental group BEST since 2009 when the decision was made to push ahead with the development.

Opponents of the scheme have raised concerns about the proximity of buildings to the cliff edge and branded the condo project as an ‘eye-sore’ and ill conceived.