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$100m 'trophy address' offices and penthouses are near completion

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Andrew Green pours Black Seal Rum over the roof of the Waterloo House during a roof wetting ceremony.

Head of the Green family, Peter Green performed the honours at a roof wetting ceremony on the redeveloped Waterloo House on Pitt's Bay Road in Hamilton.With 90 percent of the commercial space already leased, the building will be occupied by September featuring seven penthouse apartments to lease at a monthly rate that starts at $14,000 a month.The $100 million development project comprises nearly 90,000 square feet of office space.Signed tenants include a mixture of local companies to be housed in the five-storey building that offers underground parking and eight new boat moorings in Hamilton harbour.The roof wetting ceremony is seen as a major milestone for redevelopers CdB Limited and others linked to the massive project.Speaking on behalf of the family, Alexander Green marvelled at how much had been achieved in just over two years of construction in west Hamilton.“When the project was conceived it was a dark time not only for Bermuda but the world as the great recession was taking hold. We never lost faith in Bermuda and the unique selling points that our small Island in the Atlantic holds,” said Mr Green.He noted that companies that have signed to lease office space so far include Arch, Contrarius, Endurance and Platinum.“These companies are among the pillars of international business in Bermuda and have helped cement this development as one of the premier buildings here in Bermuda.“We've also completed one of seven luxury apartments. As you can see from up here these views of Bermuda are unparalleled and will make these apartments unique.”He noted the project came in “on time and on budget” and concluded: “No project like this would ever be possible without the help of the way they have been engaging and swift in decisions making everything as easy as possible for us.”Premier Craig Cannonier said: “I can't say enough about what today really means to Bermuda.“It marks a new day, I believe it will go down in history as a time where Bermuda has turned the curve of some of the economic challenges that it has had because this represents all of us coming together.“A lot of expertise went into this to make this happen and as I looked at some of the details of what's being done and the innovation of the clean energy that the Green's have implemented I can truly say this is a wonderful day for Bermuda.”Ted Wood, of Botelhowood Architects, was mindful that it was 48 months ago when they began shovelling concrete into the first footing of the building.“We said back then that we'd come a long, long way in a rapid 13 months from the purchase of the property to construction with the cooperation and goodwill from the owners right through to the consultant design team.“We've had really fantastic cooperation from everyone including Government agencies. There have been many people involved, designers, advisers, right throughout the project.“I want to thank the Green family and Peter Green, Alexander and Andrew Green for the chance to be here and to look at what we've done in two-and-a-half years.“What you see today are seven very spectacular apartments, albeit not quite finished, and spectacular office space.“By September there will actually be people occupying this building.”Listing agent Penny MacIntyre, executive vice president of Rego Sotheby's International Realty, said the seven residential duplex, two and three bedroom units all come with balconies at a “trophy address”.The luxury rentals start from $14,000 a month and featured amenities include a rooftop gym, a wet bar and an outdoor lounge.Said Ms MacIntyre: “Waterloo House is the first opportunity in Bermuda capturing the next generation for penthouse harbour front urban living in a trophy address.“All the apartments have Wi-Fi, controlled panel sunshades and Crestron System controls for the lights, music, and audio settings.The apartments, with an average size of 2,863 square feet, will be released onto the long-term rental market over the next few months.Charles Brown, Director of Bermuda Government's Sustainable Development Department, said: “It is good news for Bermuda that the prominent Waterloo House site is being developed with sustainability in mind — from a social, environmental and economic perspective.“By attracting new business to the Island and encouraging existing business to stay in Bermuda through the provision of high-calibre commercial space, Waterloo House is providing vital economic stimulation.“The courtyard will feature the work of a local artisan and the building and its amenities will have full disabled access.“The sustainable design of the building, comprising the very latest energy and water saving technologies, will provide a tangible example of what can be achieved.”The building is on schedule to be completed by August.

Peter Green and sons Andrew and Alexander were present at the Waterloo House roof wetting ceremony.
Peter Green takes a sip of Black Seal Rum after pouring it over the roof of the Waterloo House during a roof wetting ceremony while his son Alexander looks on.