Six months after the $23 transformation plan to turn Grand Atlantic into a condo hotel, the Government Senator responsible for Public Works has disclosed that the failed housing complex is costing taxpayers $168,400 a year to maintain the South Shore property.
Progressive Labour Party Senator Vance Campbell, the Junior Minister of Public Works, confirmed the figures in the Upper House on Wednesday.
The development, comprised of 78 units built as affordable housing,, only saw two sales when it was completed in 2011. Since then, it has stood virtually empty, with the exception of the time leading up to and including the America’s Cup.
In May 2018, Public Works Minister Lieutenant-Colonel David Burch, announced plans to transform the development into the new Bermudiana Beach Resort,.
Representative of the group that launched the concept in 2014, Robert MacLellan of MacLellan & Associates, said the original plan was delayed to accommodate the America’s Cup in 2017.
Work started in May and at last check, Mr Campbell told Senators yesterday that the project was advancing.