‘Request for Proposal for’ Prospect Reef Development to come– Premier Wheatley
The Premier was at the time answering questions posed by the media during a May 2, 2023, press conference.
“Very soon, I'll be engaging the Prospect Reef Board on issuing a Request for Proposal for development at Prospect Reef. We see Prospect Reef as a hotel that can offer convention center services to our business community and assist our business community in being able to host meetings, conferences et cetera.”
Added to that, he said the facility is being seen as one that can also offer meetings and conferences that can cater to the needs of businesses.
“So Prospect Reef is a big part of what it is we are attempting to do and the public will see a Request for Proposal very soon and thereafter, once we receive proposals, the board will deliberate and obviously will choose who they believe is the best tender,” he added.
Fresh negotiations
The Premier noted; however, that there's nothing on the table, rather the process will begin with fresh negotiations.
“When the Request for Proposal goes up, anyone who is interested will be able to put forward a proposal and they'll have a fair and transparent process to select a proposal,” he said.
The Prospect Reef Hotel and Resort was purchased by the VI government for $6 million in 2005.
A $100M deal for its development was announced in 2013 with the United Kingdom-based developer Sir Robert McAlpine Group; however, negotiations fell through.
A $90M deal was then signed in July 2017 with US-based firm The ICA Group to develop the project; however, that deal also fell through.
Along came hurricanes Irma and Maria in September 2017 which destroyed the property and it has been left in ruins since then.
Dr Wheatley during his maiden Budget Address at the Ninth Sitting of the Fourth Session of the Fourth House of Assembly (HoA) at Save the Seed Energy Centre in Duff’s Bottom on November 29, 2022, had indicated that a Request for Proposal for the development of Prospect Reef Hotel could be expected in 2023.
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17 Responses to “‘Request for Proposal for’ Prospect Reef Development to come– Premier Wheatley ”
Why do we own Prospect Reef?
Put it up for sale and make it easy for an investor to buy ( red tape)
Our tax dollars will be wasted developing it and someone’s friends or relatives will make a lot of money.
you had your time and chance to go out and vote but you didnt. so anything the government do you need not to open your mouths just like how you stay home and didnt try to remove these people please keep your comments to yourself.
I voted but did not get what I voted for because they could not get their act together.
The government haveno clue what to do with it as years of experience shows.
Being real, no company or organisation not based in BVI would ever plan to have a large-scale conference here because the travel and accommodation here is too expensive, and the journey here is too tricky and unreliable (direct Miami flight or not). Prospect Reef could be developed into a wonderful marina village with mixed residential, offices, retail and entertainment but please do not chase this conference centre idea as it will be white elephant. Tortola is never competing with Vegas or Miami, so don't try to.
BVI should focus on high quality, low volume tourism. Keep it small and exclusive, and keep the wonderful character that BVI has by promoting its rich culture and the fact that there is no Starbucks, MacDonalds or Quiznos IS the USP. Let's invest in our national parks, open up hiking and biking trails, set up snorkel trails, protect our reefs, re-generate our historical sites.