A delay in getting financing for work on the Bermudiana Beach Resort has delayed its opening to spring next year.

At a ribbon cutting in July 2019 to relaunch the former Grand Atlantic low cost housing scheme as a hotel and condominium complex, Public Works Minister David Burch said he anticipated that the Bermudiana would be open in July 2020.

As recently as February, the finance minister Curtis Dickinson said work on the resort would start in March “with a view to completion in late summer”.

And in March, Colonel Burch told MPs that the Resort, which is owned by the Bermuda Housing Corporation, was expected to open its doors to guests in October.

However, in the House of Assembly on Friday, July 2, David Burt, the Premier said: “Following the announcement of a tranche of $10 million, supported by a sovereign guarantee, pledged to proceed with necessary development at this property, due diligence has now been completed, the development loan approved and work on the additional elements of the project will soon commence.

“These works include additional rooms and a series of guest amenities which when completed will make it suitable for paying guests, representing the newest addition to the tourism stock of guest accommodation.

“The plan is to complete construction by April 2022 and be open shortly thereafter.”

Asked by The Royal Gazette why there had been a delay, a spokesman said: “The Ministry of Public Works can advise that the process of securing the best possible financing for this project did lead to some delays. However, the process is now complete, and funding for the project is received.

“Construction will begin soon, and the anticipated completion date for the first of three phases is April 30, 2022. The first phase includes the completion of half the units, followed by the hotel’s opening.

“Ultimately, the Ministry of Public Works looks forward to completing this project and providing yet another excellent resort for visitors and locals alike.”

Mr Dickinson announced a $10 million Government guarantee for the project in the last Budget. It was one of three guarantees he said Government was making but the other two have not yet been made public.

In his Budget speech, the Minister said the redevelopment of the property was an example of “targeted stimulus” to bolster the economy.

He added: “Having satisfied myself of the tourism need as well as the proposed plans for the remainder of the development, I am pleased to advise this Honourable House that I have executed a $10 million guarantee to support funding necessary for the completion of the next phase of works.”

On Thursday, The Royal Gazette asked the Finance Ministry why there were delays in securing the finance. There was no response by press time last night.