Norman Island development projected to cost upwards of $200M
Businessman Dr Henry Jarecki (left) and Premier Dr D Orlando Smith sign an agreement for the development of Norman Island.
The Norman Island development project which is being signed from an agreement between the government and local company, Audubon Holdings Limited, is slated to have a cost that is upwards of $200 million.
“It isn’t really a budgeted figure,” noted German-American businessman Dr Henry Jarecki, who owns Norman Island and who is the board Chairman of Audubon Holdings. He said the cost of the development will largely be dependent on the state of the economy over the next few years.
The businessman was speaking on Thursday at the agreement signing between government and Audubon, which is a local real estate holding and development company.
The project will see the development of three potential 20 to 30-room hotels and will provide ownership opportunities for 75 to 100 residences.
Development will also include the addition of another restaurant on the island, a floating pool, a beach bar, a water sports centre, as well as a spa, an observatory, and boat slips for day visitors and residents.
Still environmentally conscious
Though a variety of facilities are being introduced to the privately-owned outer island, developers have noted that it will all be done in an environmentally conscious way.
Developers also said they anticipate that more than half of the island will remain as ‘green space’ so that Norman Island’s natural beauty and resources such as its popular caves are preserved.
“This project offers an exciting opportunity to create hundreds of business opportunities and good jobs and establish a model for environmentally sustainable development. We are committed to making sure this project benefits all the people of the BVI,” Dr Jarecki said.
Premier Dr D Orlando Smith, who was one of the signatories for local government, said the development agreement marks what he described as “an exciting time for the BVI and its resurgence in the tourism industry”.
“As we continue to re-introduce and re-invent our tourism products and services, it is imperative that we take the necessary steps to ensure that we create products that are environmentally sustainable and attractive to our residents and visitors alike,” Dr Smith said.
The first phase of the project may begin sometime next year.
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Water sports huh??? Is this why the junior tourism minister started to strike up the talk about jet skis recently ? Locals been asking for that for years, but I guess this is why it is at the forefront of issues now because someone special coming with it. I guess it is not dangerous anymore and the license rules that only allowed those who held the license before now does not apply. SMDH……..Boy ayuh is a set.
There are locals operating jet ski businesses here so not sure what youre saying. Further, which luxury resort have you seen with jet skis? It said water sports and just because you want to find a political link to make noise about you dug way deep to come up with that.
Yes imbecile, there are 2 operators but understand the laws. They held those licenses prior to the law. BUT ANY NEW LOCALS ARE NOT ALLOWED TO BRING THEM IN. Although many have petitioned for years. Also what do you think water sports is????????? NDP takes the public for fools he did not just start that talk for no reason. Here you have what may have sparked it, a preemptive action on their part. Do you with your modicum of intelligence think they will build that resort and have waterspouts and not have jet skis??? What we are discussing is a double standard that plays out to many times in these islands.
That’s the NDP for you. Money rules. Yet we ask why the BVI is the way it is. Things will never change.
Do his Family members want to bring in Jet skies?
Ndp and white billionaire friends gotta go! One way or the other
An appeal to BVIs true Nationalists. Please come forth and stand for something.
Where is Edju En Ka)? Only a few years ago he was preaching about BVIs National Assets. When Digicel was about to make its way into the country, three was much talk about CCT being a National Asset, the same thing when Bi-Water was about to enter. Bi-water is apparently no more treat to other BVI Assets.
Norman Island is a absolutely a National Asset; a National Park and a substantial BVI Asset.
There is some talk going around about certain political aspirants who would give away the country if elected. At the rate our little 60 sq mile country is heading, we are pretty near to not having anything more to give away.
Is this the motivation behind the push to spend $300M on a runway extension?
Environmentally responsible?
Like the way they already put bulkheads in the water in Money Bay when it is illegal to do so?
They are still there.
The BVI has given away not only an island but a major hub of the very lucrative charter industry.
The damage this will do in the long term to the BVI Charter industry will be enormous.
There is nothing about this agreement that the islands need or will benefit from.
The rush to sign this is about something else and with it goes the rights of all yachts to anchor anywhere around Norman Island.
Laws have already been broken by the “local” company A——–. Why is the word “local” being used rather than the more familiar “foreign owned.”
Some “local” companies get favorable treatment whilst other “local” companies like the Willy T get run out of town.
Is no one asking why this is being done for the benefit of A——-? They have already broken the territories rules and regulations and they get rewarded. Why is that? Where is the enforcement, the controls, the prosecution?
Who is it that is actually gaining from this signing?
Why does it have to be done now and by this Premier?
Why is the word “local” being used rather than the more familiar “foreign owned.”
Environment?
Government in the sunshine, yet so much is in the dark?! The alarming thing is what they are not telling us. I bet there is a ton of stuff in that agreement in the way of revenues this Government gave away that could do so much for this country. Nice little retirement swan song for those that are moving on I’m sure.
Every 4 years, we the people finally have our say. We get the politicians just about eating out of our hands (as the NDP said about their sweet deal with the UK a few years ago). They come to our homes by day and using flashlights by night, begging us to support their candidacy. Offering us 4 and 5 phone numbers to reach them at. Then we go ahaead and X them in; only to find out that none of those numbers are available to us, (but likely available to the millionaires/Billionaires).
But Yes, we do have the power. We are the real Bosses. Yet we are afraid, (I don’t understand why)we are afraid to use it.
Any such Deal coming before us, the real power brokers, should be discussed; all aspects of it. Who is so wise that they know/have all the answers, or know/understands how we will be impacted.
Our local population is only 40% of the overall; 60% none indigenous/locals. The question then, is who are we developing/Giving away our Heritage for?. Most likely all the import duties and other government Revenue will be ZERO; th high paying jobs will go outside, as usual most of the revenue will also be Repatriated to the homeland of the investors. Then Government will turn around and ask us to furnish Clinics and hospitals.
The premier should be strictly concerned with the repairs of the country at with only a matter of a few months or weeks to go before he is outta office.
Again my fellow Virgin Islands, We ave the Power, You have the power. Let us not be afraid to use it.
Ok Shaina.
Who is gaining – we all know that obvious answer. A little something extra for retirement me thinks.
Rushing the deal through before the No Direction Party gets kicked out! watch out for more back hander deals soon….
“Jus Sayin”, I think you’ve hit the nail on it’s head!
A dying party’s ninety day “busy work”!
The real question begs to be asked: who really benefits from these developments?
Don’t tell us about the few handmaidens and a some that are hired. The leadership positions are always held by foreigners!
If only the Governor had the neccessary backbone to demand the declaration of assets after these leaders leave office…
..If only
The NDP has lost its way.
BVI News. Why do u refuse to print my contributions ?
Ownership to 75 – 100 residents? Shouldn’t they say belonger?