Waterloo Properties is gearing up to start Phase II of its $60 million waterfront development at the former PW's Marine Centre site in Hamilton.

Penthouses and waterfront apartments are to be added to the property as well as additional office space.

An application for final Planning approval has been submitted to Government to construct two new office buildings and 11, two-storey residential units to the property.

The site, which sprawls over four acres, already houses the Zurich Centre and Miles Market, which were completed as part of phase one back in 1999.

The new buildings will add 171,193 square feet of floor space and plans to go ahead already received approval in principle from the Development Applications Board last May.

Applying for final permission, agents Conyers and Associates noted slight changes have been made to the plans.

When completed the property will now house 18, two-bedroom dwelling units with 14 on the waterfront and four penthouses in the two office buildings.

The buildings will also provide parking for 148 cars.

"A great deal of thought has been applied to the scale and massing of this final phase of the Waterfront development and every effort has been to accommodate mixed uses in buildings of appropriate massing," agent J. Malcolm Sutherland wrote to Planning.

"We feel happy that the rhythm and articulation of facade will greatly enhance this harbour frontage and the scheme overall, will be a worthwhile addition to Bermuda's rich architectural heritage."