Good Morning ladies and gentlemen.
We are very pleased to be here today to provide an update on the progress being made in the development of the St. Regis Bermuda Hotel development, here in St. George’s.
It is great to see firsthand how far along this development has evolved and to share this progress with the public. Projects like this are important to Bermuda and especially important to this community.
Once completed, this resort promises to be one of the most stunning properties on island, located on one of the most beautiful sites in Bermuda.
Before I go into the details of the progress, I would just like to start by dispelling the rumours that when the hotel is completed the public will not have access to the beach or areas of the beach will not be available for the public use. That is not true. I will say this again, Gates Beach, more commonly referred to as Fort St Catherine Beach, will remain open and accessible to the public - that is stated in St. George´s Resort Act 2018.
I need to stress this point from the start so that this important message does not get lost in my update and to ensure that everyone is clear on this topic.
The public has always had access to this beach, they have it now and they will have both access to and full use of the beach when the hotel is open.
I am pleased with the sequence of the project. It is encouraging that this development is focused on the hotel first and the residential units second. The work currently being done includes the hotel, amenities, a casino and two condominium-style buildings.
Since my last update a few months ago a tremendous amount of hard work has been carried out on the final stages of piling and foundations of the three blocks of the Hotel. A lot of this work cannot be seen, as it is mainly underground, out of sight and already covered.
They are currently working on the pits of the elevators and staircases. The concrete retaining walls in the back of the hotel are finished, as well as the construction of two water tanks.
The movements of earth in different areas of the site will continue, in preparation for the arrival of the steel structure at the end of this month. This steel structure will begin to be erected in early November and we anticipate being able to have the structure of the hotel completed by April 2019.
Regarding the residential Condominium Building #1, work will start on the foundations before the end of this year and the erection of the structure is expected to start in February 2019.
With respect to the workforce here on site. There are currently 55 workers engaged in the construction, out of them there are 19 work permit holders from HOTELCO, and 36 Bermudian workers. Out of this group of local workers, 14 of them are from the St George's community and one of the current three subcontractors is ACL, a construction company from St George's, which has seven workers dedicated to the St Regis project.
On the residential side, you may recall, as was published recently that the developers made the decision not to build staff housing. Instead they chose to utilize the local rental marked as a way to offer opportunities to local home owners.
Currently, they have eight homes rented in the St George's area, lodging 22 workers. And, in the first quarter of 2019, they expect to rent seven additional homes to lodge 38 additional workers. It is important to note that these workers live in St. George’s, shop in the area stores, utilizing the services of local vendors and they are indeed part of this community.
Going forward, an increasing number of services will be demanded as the construction progresses. One good example of this is the provision of food on this site. The local grocery store Somers Supermart is currently preparing and delivering lunch for 26 people on a daily basis and will continue providing an increasing number of meals for the duration of the project.
I am happy with the progress that is being made and I am excited as this highly anticipated new hotel progresses towards completion.
This Government and the developers remain committed to progress. It is essential to our tourism product and this community and there is no doubt that this hotel will have a positive impact on Bermuda as a whole.
