SDO tabled allowing expansion of Tucker's Point
A special development order was this morning tabled in the House of Assembly allowing Tucker's Point to expand its hotel and build new homes.The SDO designates a number of real estate parcels within Tucker's Point for development - in the short-term, Tucker's Point will develop and sell single units as part of a three-lot subdivision on Glebe Hill, in Hamilton Parish, and seven single family home sites on Paynter's Road, South Road and Harrington Sound Road. Tucker's Point is also seeking approval to develop nine sites of single and attached housing on Paynter's Hill.The SDO also enables the hotel operators, Rosewood Tucker's Point Resort and Spa, to expand its 100 guest rooms by 50 to 70 more rooms and suites on the adjacent Quarry Hill site. The actual number of additional rooms will depend on geophysical studies of the site and tourism market conditions as the expansion gets under way.And the SDO also provides for rebuilding the Tucker's Point Stables building, converting it into a community center for residents and guests, and adding in the future a townhouse community.Tucker's Point's long-term plan aims to redevelop Whitecrest Hill, which has to date served as the water catchment for the resort, as a Rosewood residential community. It presently has in principle Planning approval to build 42 sites on Whitecrest Hill; the SDO would add to that number by 15 home sites.As part of the SDO agreement, Tucker's Point will deed 7.5 acres of land zoned as woodland and nature reserve, as well as Mangrove Lake, to Government or a designated land preservation entity.According to Ed Trippe, President of Tucker's Point, the property is committed to sustainable development compatible with “best practices” for preserving the environment.Phil Butterfield, CEO of the HSBC Bank Bermuda, Tucker's Point's senior lender, commented that the approval of the SDO sent a message to all stakeholders, including banks and would-be investors and developers, that Government was solidly behind Tucker's Point and the Island's hospitality sector.A statement from Tucker's Point said: “Not only is approval of the SDO critical to the financial viability of Tucker's Point, it is a condition for finalising the agreement with Rosewood Hotels & Resorts.”Bob Boulogne, Rosewood's Chief Operating Officer, said: “Tucker's Point will be among the finest resorts in the western hemisphere and a very worthy addition to our portfolio of 18 ultra-luxury hotels in North America, Mexico and the Caribbean, with more to come in 2011 in Canada, Mexico and the Middle East. We are eager to officially start our management of the hotel.”Environment Minister Walter Roban tabled the SDO this morning and told MPs they would get the chance to debate the development, which has been granted "in principle approval".The Minister said final approval would be given only when the developer had satisfied the Department of Planning, the Development Applications Board and the detailed conditions of the order.He told MPs the order represented an example of Government's commitment to tourism as an essential pillar of the economy.Tucker's Point received an SDO for planning in principle, which means it can now apply to build on lots that were previously not zoned for building.The Department of Planning can reject the plans if they feel the proposed construction would cause too much damage environmentally.Tourism Minister Patrice Minors said: "Our hotel product is of national importance. Its success is vital to our residents who work in the tourism industry."And its success is important to stakeholders who offer services in the industry such as our restaurants, sports and leisure operators, taxi drivers, retail stores....the list is endless."Tucker's Point is a shining example of the new hope for the development of Bermuda's hotel product."Mr Trippe said: "Eleven years ago when Tucker's Point broke ground it was based on the advantageous sound public private partnership, working with Government."Tucker's Point was the beneficiary of Government's first Concession Order in 2000 which granted tax and immigration relief enabling the property to secure its initial financing from its Bermudian investors and lenders."That partnership is as important today with the world dealing with a tsunami of economic, environmental and social turbulences."The SDO today shows the strong support tourism and Rosewood Tucker's Point have from Government and sends out a strong message to future developers."Useful websites: www.tuckerspoint.com, www.hsbc.bm,