The Canadian firm that plans to build a resort and villas at Mt Wynne-Peter’s Hope has about half of the $60 million that the construction of the project is expected to cost.
Joseph Romano of PACE Developments told iWitness News on Thursday that the project is “self-financed for now”.
“There is no mortgage on the property. Cash was paid and we have a large chunk to start the service,” he said in an interview after the ground breaking ceremony for the project.
The company has paid the government of St. Vincent and the Grenadines EC$7 million for 36 acres of land in the former agricultural estate.
The construction of the resort and villas is budgeted to cost about $60 million, he told iWitness News, adding, “So we will see how it goes.
“We have about, I’d say about 50 per cent right now. These are reserves from our company over the years.”
He told iWitness News that PACE Developments has 40 years of development experience in Canada and has done a resort, hotel and golf course in Florida.
“We are very excited about working in St. Vincent.”
Romano told iWitness News that there is an arm of Pace Developments that has experience in management of resorts.
He, however, told iWitness News that he did not know what that arm is called.
“I don’t know off-hand. I don’t. Sorry,” Romano said and later explained that the company is 40 years old and he has been with them for eight.
In his address at the ceremony, Romano said that his company is “truly humble at the opportunity to develop a first-class facility right here on Peter’s Hope”.
He said the development has been negotiated for over two years and PACE Development is truly happy to finally begin construction.
“Today marks a groundbreaking celebration. But, it comes with a responsibility and a promise to build a project that all Vincentians will be proud of and can participate in. That responsibility is to all of you,” Romano told the gathering of government officials, dignitaries, and citizens.
He said that his company has had an advance team in St. Vincent for about a year.
“And we feel that we are in touch with everyone’s concerns. First, we will not impede any public access to the beach,” he said to applause and a few “amens”.
All beaches in St. Vincent and the Grenadines are public, but residents of Canouan in the southern Grenadines have been advocating for almost two decades for unimpeded access to beaches in the island’s “developed” north, where resorts are located.
Some persons have expressed concerns that a similar situation could develop at Peter’s Hope.
“Second, we will hire locals for construction,” Romano said.
“Third, we will run the resort with Vincentians workers who will have opportunities to advance within the organisation. Fourth, the hardworking farmers and fishermen will be respected and sought. And fifth, we will be implementing a training facility for the future employees of the Black Sand Resort.
“These are promises we are making to you today and promises we will keep.”
Romano told the ceremony that Red Tag Vacations in Canada has committed “one hundred per cent to the Black Sands Resort and to the country and islands of St. Vincent and the Grenadines.
“I assure you that PACE Developments and the Black Sands Resorts will not let you down,” he said.
1. No mention was made by Mr. Chance about the silent demonstration on the roadside above by those opposed to this development which at least one of their supporters has called the sale of land to the descendants of slave-masters while another has begged for a tsunami to destroy Argyle airport.
No mention, I guess, because the demonstration on the road consisted of six people lead by Luzette “Tsunami” King even though NDP leaders called for a massive turnout at the site.
This paltry figure is testimony that most Vincentians support this project and others like it which is why the formerly pro-tourism NDP which just reincarnated itself weeks ago as being anti-white foreign tourism development. Why? Just because the Comrade was able to strike a deal with Pace Developments Inc. to buy 36 acres of otherwise useless land at Peter’s Hope no one else has wanted since the NDP arranged for the purchase of the whole area in 1998. This about face is bound to ensure their loss of the next election, making it five-a-row for the ULP.
2. The PM’s speech clearly showed a pull-back from earlier promises that several international airlines wanted to initiate non-stop service to Argyle from North America and Great Britain. The thrust now is on the tiny charter business, a niche travel segment that could never justify the construction of the new airport. But a pull-back was not unexpected given that there is no high demand by tourists to travel here.
3. The amateurish Black Sands Resort and Villas promotional brochure (available from InvestSVG and the Tourism Authority) which says,The construction of the new Argyle International will be an instrumental contributing factor in attracting a multitude of flights from all over the world increasing tourism into our resort, has it exactly ass backwards. In reality, it is increases in tourism numbers that are instrumental in stimulating increases in tourist accommodation which also leads to a multitude of new flights which eventually stimulates the expansion of an existing airport or the building of a new one. This is what countless examples from all over the world show.
That no international hotel chain has shown any interest in our mainland while clamouring to build resorts all over the Caribbean and surrounding Central America speaks for itself.
4. The PM and other speakers repeatedly said that without the construction of Argyle International Airport, Pace Developments Inc. would never have wanted to build this resort and hotel.
I do not doubt this assertion. What I do question is whether Pace, a company with little international tourism experience or presence, did a proper feasibility study which determined that their resort and hotel would attract sufficient guests to a seaside area with no white sand and deep inshore waters on an island with so few off-beach tourist attractions.
Just another half-baked idea. They are coming one after the other.
What about the Sports Stadium?
What about the Cross Country road?
i hope this is not a second Buccament resort dilemma