Grand Atlantic could begin conversion into a condo hotel in early 2015, Public Works Minister Patricia Gordon-Pamplin told the House of Assembly this morning.

Giving an update on the project, Ms Gordon-Pamplin said developers MacLellan and Associates’ Memorandum of Understanding for the property expired earlier this month but the decision had been made to extend the MOU for another 120 days, saying “only a few” minor conditions remain to be satisfied.

“As the deadline approached, and despite best intentions, there were a few matters that were still to be resolved,” she told the House. “Honourable members will note the decision by the Planning Board to require further information on the location of the pool as it was deemed to be too close to the cliff edge. This matter was concluded with a satisfactory granting of the necessary building permit.

“Most notably, the question of vacant possession of the development and the relocation of the lone family still residing in the development has, until now, delayed some of the negotiations.

“I am pleased to announce, however, within this past week, the Government has reached a mutually agreeable solution with the current single unit owners at Grand Atlantic. The family has agreed to transfer out of the Grand Atlantic property to another identified unit once all the conditions are met with the Developers.

“With this very recent resolution only a few minor conditions remain to be satisfied which can be accomplished in a brief extension period. It has been agreed that MacLellan and Associates be granted a further 120 days in order to ensure that the project is well positioned to provide jobs, opportunities for local and overseas investment and a brand new Tourism concept for Bermuda.”

She said the remaining issues are not expected to take the full 120 days to resolve, expressing confidence that the deadline will not have to be extended again.

“This project is still projected to become Bermuda’s first condo-hotel tourism offering. MacLellan and Associates have completed their engineering and construction due diligence for all aspects of the site development, as well as progressing the marketing, management and operation of the hotel component.”

Residents in the greater area have concerns over the development, according to the Progressive Labour Party’s Lawrence Scott, with the Minister agreeing a town-hall meeting date should be set to hear their issues.