Park Hyatt, St. George’sBefore stepping down as Premier, Dr Brown announced financing to build on the 125-acre former Club Med site was in placeDeveloper Carl Bazarian said his company Bazarian International will be investing money into the $300 million project; the Park Hyatt will also invest a “significant” amount. The company has also secured a loan from HSBC for an undisclosed amount.The 262-year lease has already been signed and Mr Bazarian expects to break ground in November.9 Beaches, SomersetThe 240-year lease has not yet been passed in the Senate after politicians raised concerns over several issues before the Upper House closed for Christmas. They will not debate the lease again until February.The $80 million redevelopment, which would see as many as 120 residential tourism units and 69 hotel units built on the property, is supposed to reopen in May this year.David Dodwell, of IRC Sandys, which is a part owner of the property, said the group remained positive about the development and were looking forward to the lease passing.Lantana, SomersetMoongate Resort spokesman Clarence Hofheins said they were cutting the new road to the 9.4-acre property shortly and will build their model cottage in the next three months.He added construction on the beach club is due to start in the summer. The $100 million project will build 28-units on the cottage colony property. US hedge fund owner Lawrence Doyle, and owner of the property, has said he is financing it.Grand Atlantic Resort,WarwickWork has begun on the first phase of the low-cost housing aspect of the $150 million project at the former Golden Hind property.Construction on the 100-room hotel and 20 fractional units aspect of the property has not yet started. Yesterday, builder Gilbert Lopes said they were on target with the construction of the first phase of housing and the hotel would follow.Developer Larry Swenson previously said the project was “fully financed” but did not elaborate. The Royal Gazette understands Butterfield Bank is financing a portion of the housing aspect but not the hotel development.Ariel Sands, DevonshireChairman of Ariel Sands’ board of directors, Nicholas Dill, said several investors have been interested in the property, but nothing has materialised yet.“We are still working on it,” he said. “The project is slowly advancing. In this financial market it’s quite a lot to put together to convince people it’s a good thing.”He said he was still confident in the project.St. Regis, HamiltonThe hotel was supposed to break ground last year, however the developers are still dealing with a “snag” with the City of Hamilton.Dr Brown, before retiring, said a technical issue was holding up development of the five-star hotel, with residential units, on the site of the Par-la-Ville car park. Industry sources said how the project would be financed was one of the issues.Hamilton Mayor Charles Gosling would not comment yesterday on the topic.Donal Scott, who is the vice president of Par-la-Ville Hotel and Residence Ltd, said the project was moving forward and past the financing stage. He did not want to comment further on financing or a timeline for development but said talks with the City of Hamilton were ongoing.Coco Reef Resort, PagetOwner John Jefferis said he planned to start construction on 66 villas in 2010. Work on the second phase, a six-storey hotel, was due to follow. Construction did not start last year.Previously Mr Jefferis has said funding was secured for most of the $94 million project, but did not elaborate.The Royal Gazette was unable to contact him yesterday for an update on the development. The Auditor General is currently investigating the lease of the Government owned property, which has frequently been criticised by opposition MPs.Coral Beach Cluband Horizons, PagetLast year Four Seasons Hotels and Resorts announced they would manage the property once it was built.US development company Brickman Associates, who own it, said the initial phase of the redevelopment, on the existing cottages and amenity buildings, was due to start last year.Club members, who did not want to be named, said renovations on the existing cottages have not yet happened, nor has other construction.In March last year Mr O’Connor said it was a challenging time for resort development due to the global financing crisis, but he added: “Brickman has made a substantial investment in Bermuda.”The Royal Gazette could not reach him yesterday for an update.The Horizons resort has been leased out as nurses’ housing to the Bermuda Hospital Board.Morgan’s Point,SouthamptonThe Morgan’s Point Act is due to be debated in the next parliamentary session, starting February.It paves the way for Government to exchange land in Morgan’s Point, based in Sandys and Southampton, for the Southlands property in Warwick.If passed the Act would give developers Planning permission in principle to build a $2 billion tourism resort including a 325-room main resort hotel, 80-room boutique hotel, condominiums, beach villas, golf course, boat club and retail plaza. The developers will also be allowed to build 60 hotel residences that can be sold to foreigners.Work on the first phase of the Morgan’s Point project an 80-room boutique hotel on the west of the site cannot start until the former base lands have been cleaned.Munroe Beach,SouthamptonBoston-based investment company Crossharbour Capital own the five-acre property located in Whitney’s Bay. The company has hired Moongate Resort to manage and develop the project. Mr Hofheins said they are still going over various models to see which is best suited to the property but nothing had been finalised yet.