The construction of 20 residential units at the $250 million Tucker's Point luxury resort has been given the nod by Island Planning officials.

The units will comprise the Residence Club at Tucker's Point, a third alternative to owning property at the Tucker's Town community. Similar to luxurious flats or apartments, up to ten owners (200 owners in total) will share the two-, three- and four-bedroom villas sitting on the hilltop at the site of the current day sales offices at the Point.

Complete with dramatic views of Harrington Sound, Castle Harbour and the ocean, the Residence Club will also feature its own clubhouse and pool. The concept is similar to those employed by international resorts such as Aspen, Vail, and Deer Valley, however this is the first time such an idea has been employed in Bermuda.

"This innovative real estate ownership concept has proven very successful in North America and we are excited to be making it available in Bermuda," said executive vice president of residential development John Bush. "It provides owners with the ultimate Bermuda vacation experience while easing the financial burden and eliminating the worries typically associated with second home ownership.

"Owners will also benefit from the unparalleled service, luxury and amenities that are distinctively Tucker's Point." Construction is expected to begin by mid-September of this year.

Like the estate and townhouses also being built for ownership at Tucker's Point, the Residence Club villas will be built in a traditional Bermudian style, complete with large verandahs and cedar in the windows. Whereas the estate and townhouses range in price from $1.6 million to over $3.5 million, a one-tenth ownership interest in the villas starts at $280,000 - including membership to Tucker's Point Golf, Beach and Tennis Club.

"Sales of Tucker's Point Club's residences continue to surpass expectations," said president of Tucker's Point Club Ed Trippe.

"This demonstrates strong interest in Tucker's Point Club and highlights Bermuda's growing popularity as a vacation destination and market for primary and secondary homes.

According to Mr. Bush, revenue from the residences is being channelled towards funding the new luxury hotel at the site of the old Marriott Castle Harbour hotel. Only a steel, three-storey skeleton remains of the former nine-storey building.

Preparations for the new hotel can also be seen in the construction of the new beach clubhouse at Tucker's Point, which has a kitchen nearly as large as its dining area in order to accommodate hotel guests. A 14,000-foot luxury Greenbrier spa is also planned for the hotel site.