Plans to build a $100 million hotel and condo development in the centre of Hamilton are still on track, the developer behind the scheme claimed yesterday.

T.G. International Investments Ltd. had an exclusive agreement with the Corporation of Hamilton to develop the site at Par-la-Ville car park but this expired last summer before any contracts were signed.

The Corporation is now talking to other potential developers as well as T.G.

International in a bid to bring the project to fruition.

But Glynn Shouldice, President and CEO of T.G. International, insisted yesterday that the plan for an 140 executive suite hotel and 19 apartments, with an underground parking complex was still "alive and kicking''.

He said the Four Seasons hotel chain was still committed, and he said a foreign group, whom he refused to name, had offered to finance the entire project, but he was unsure if the deal was right.

The Union Swiss Bank has agreed to act as banker, but Mr. Shouldice said he would like local banks to have some involvement if possible.

Mr. Shouldice told The Royal Gazette : "The project is still very much alive and kicking and I don't see any point in time when the project will not be alive and kicking.

"It's an absolutely fantastic project and the reality is that there will be a hotel built on that spot.

"We have a firm commitment from a (foreign) group to finance the whole thing, but it is not necessarily the right deal for the project.

"The more Bermudian interest we can get for the project the better and I'd like to use local banking facilities if necessary.

"It is still all systems go. We still have a few issues to deal with the Corporation but its not their fault.

"It is us trying to ensure that the t's are crossed and the i's dotted and we hope to do that as soon as possible.

"With the international economy there are still hurdles that have to be addressed. There is always a concern about risk when you deal with the development we have.

"We still have a hotel - Four Seasons - very much interested and we are moving forward.

"We have a letter of intent from them and we could sign it into a contractual obligation now. Once we are sure we have all our ducks in a row, that's when we will go to you guys.

"Are we still working on it? Yes. Are we still excited? Yes. Is there still the possibility of failure? Absolutely.

"We're working hard to ensure that if we put a hole in the ground there will be sufficient finance in place to build the building.

"We are trying to ensure beyond a shadow of a doubt that contracts not only are signed, but that funds are in deposit for a special trust for the sole purpose of building the project.

"Part of the Corporation criteria is to ensure that once this is started it doesn't stop.'' Corporation Secretary Roger Sherratt said yesterday: "We're in discussions with them from time to time and we have received similar assurances that they're still looking at this project in a similar light and are trying to put together the necessary financing.

"But it has been almost three years since the project was first proposed and the Corporation is now just looking at other options for this site.

"The Corporation remains very interested in developing the site along the lines proposed by Glynn Shouldice.

"At one time he had an exclusivity agreement but that expired in the middle of last year and the Corporation is looking at other possible options for someone to do a similar project but we are aware that Mr. Shouldice is still working hard.

"We have had other expressions of interest but we are not looking at concluding an agreement with another group right now.''