TCI News

Land bought, project sound, five-star resort coming to NW Grace Bay Beach

#Providenciales, Turks and Caicos – Friday June 22, 2018 – A seven-storey resort to the tune of $100 million plus will add to the lustre of northwestern Grace Bay Beach, and the brand reveal is about a month away from formal announcement, explained Vista Development and the Turks and Caicos Islands Government on Wednesday.

The mood was jovial at the Office of the Premier when the project was un-canned to the TCI media core.  It would take up an idyllic spot next to Coral Gardens Resort, in an area islanders call The Lower Bight.  What the former and failed Toscana Development could not do, the new Vista Developers say they can and will…

“As Developers, we are extremely pleased with the assistance and prompt responses of the Hon. Premier and Minister of Finance & Investment, Hon Cartwright-Robinson and her team for agreeing new timelines for the Development Agreement, which now allow us to move forward with the confidence and assurances that a development of this scope require from a local Government. We are indeed grateful for the expertise and guidance of Ms. Rochelle Thompson, Investment Executive of Invest Turks and Caicos, who has been working with us from day one in seeing this project come this far,” said Co-Managing Director of Vista Development Ltd., Matt McDonald.

Premier and Investment Minister, Sharlene Robinson and Tourism Minister, Ralph Higgs were instrumental in helping the group to craft an updated Development Agreement which will now draw a five-star brand and a myriad  of benefits including employment, construction and by 2021, more guests to the country.

Premier Robinson said about Vista Development that these are “…not just enthusiastic developers, but one of those who have come to the table with a sound project and are ready to go forward.”

There will be 59 hotel rooms, 74 residential condos, 170 rental nightly at the luxury accommodation proposed.

Tourism Minister Ralph Higgs extended welcoming remarks and the brand is touted to fit well with the Turks and Caicos Islands.  Minister Higgs surmised that residents will be pleased.

“What you are proposing to do here will complement our brand very, very well.  The marketplace is hungry for new products in Turks and Caicos and I don’t think you could come at a better time because while we have endured a lot, our brand has never been more visible and more in demand,” said Minister Higgs.  

In a media release, it was explained that, “Construction of the project is set to begin in late 2018 and will emphasize the use of local contractors, providing employment for Turks and Caicos Islanders during the development phases.  Set to open in 2021, the resort will also create a number of positions across many segments in the hospitality industry as they assemble their branded five-star service team.  “Pairing the built environment and superlative services, the resort is sure to raise the bar for excellence on Grace Bay Beach by many measures. We anticipate announcing the new lifestyle brand in the coming month,” said Co-Managing Director of Vista Development Ltd., Jon Siegel.

The Premier confirmed the commitment of the developers to the project and the Turks and Caicos Islands and confirmed the experience of the developers in projects around the TCI, the region and the United States.

“They together have decades of experience with successful real estate development, not just in the Turks and Caicos but also in the United States,” she continued with, “And they will be working with an experience director team…”

It was said the brand for the resort would be revealed in 30 days.

 

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