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‘Request for Proposal for’ Prospect Reef Development to come– Premier Wheatley

-Says gov’t still sees facility as one that can cater to needs of business community
The Government of the Virgin Islands is continuing plans to see the development of Prospect Reef Resort, which was destroyed by the hurricanes of 2017. Photo: VINO/File
Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) at a May 2, 2023, press conference. Photo: GIS/Facebook
Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) at a May 2, 2023, press conference. Photo: GIS/Facebook
The Prospect Reef Hotel and Resort was purchased by the Government of the Virgin Islands for $6 million in 2005. Photo: VINO/File
The Prospect Reef Hotel and Resort was purchased by the Government of the Virgin Islands for $6 million in 2005. Photo: VINO/File
PROSPECT REEF, Tortola, VI – Noting that the now-defunct Prospect Reef Hotel and Resort is still being seen as one that can potentially cater to the business community, Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) says moves are being made for its development.

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.

17 Responses to “‘Request for Proposal for’ Prospect Reef Development to come– Premier Wheatley ”

  • WHAT!!! (04/05/2023, 11:17) Like (27) Dislike (3) Reply
    Our government should not be involved in the hotel. business and convention centre business.
    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.
  • Common Sense (04/05/2023, 11:59) Like (22) Dislike (2) Reply
    Did the COI teach us nothing, there is no way the government should be investing and / or competing in private enterprise.
  • ok (04/05/2023, 12:07) Like (1) Dislike (0) Reply
    It is about damn time. Can we at least try it? People can stay where they choose and what is available.
  • Sam (04/05/2023, 12:10) Like (8) Dislike (0) Reply
    Nothing will happen. Nothing has happened to this property for 20 years. Just abandoned and derelict.
  • ..... (04/05/2023, 12:14) Like (1) Dislike (0) Reply
    Do you want to lease it? Sure sounds like it. Good luck.
  • Listen (04/05/2023, 12:37) Like (8) Dislike (7) Reply
    i need everyone under here that didnt vote shut up......

    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.
    • WHAT!!!! (04/05/2023, 13:38) Like (6) Dislike (1) Reply
      I voted but did not get what I voted for because they could not get their act together.
  • pure talk (04/05/2023, 12:49) Like (5) Dislike (0) Reply
    when fowlcock geh teeth
  • Blind Man (04/05/2023, 13:10) Like (6) Dislike (0) Reply
    Mr Premier take my advice just sell the property to a developer at a discount price with an agreement between both parties that within a five year period they must start the project or forfeit the property don't risk any confrontation with the opposition or the people as seeing anything else as a poor move think about the tourism industry create jobs for the people long term let this Government be a government for the people about the people making their lives better.
  • lisa (04/05/2023, 15:29) Like (4) Dislike (0) Reply
    Sell it and move on...Use the money to give the small business people who never got a dime for stimulus. Instead all the money went to churches and pretend fisherfolk & farmers. Or use it to get out of debt. But no need to invest in it. leave it alone. There is enough other stuff to fix!
  • marina (04/05/2023, 17:14) Like (1) Dislike (1) Reply
    Best use would be to turn into a Marina after dredging out the dead mangroves.
  • Ho,ho (04/05/2023, 19:13) Like (0) Dislike (0) Reply
    A other plane project
  • ... (04/05/2023, 19:30) Like (1) Dislike (3) Reply
    sub divide it and lease it out sure business owners here would like to have a section keep it local
  • Rubber Duck (05/05/2023, 07:38) Like (2) Dislike (0) Reply
    A number of proposals have been made in the past. All ignored. Nothing in it for the politicians I imagine.

    The government haveno clue what to do with it as years of experience shows.
  • Jane (05/05/2023, 12:01) Like (2) Dislike (0) Reply
    The financial services industry do not want a conference centre. There are already ample options available for our limited needs: Scrub Island, the Arbitration Centre, Village Cay, The Mariner Hotel & Marias by the Sea.

    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.
  • johnny (05/05/2023, 15:09) Like (0) Dislike (0) Reply
    You all allowed investors to come in loo kand stkiitts havr mariots nevis fourl seasons stomas Sheldon you jeave the pulic peruse what about thoses on the hill you all get any buys yet stkitts up ther billing low income houses nevis also
  • Big Richard (06/05/2023, 13:35) Like (0) Dislike (0) Reply
    INCLUDES the sewage outfall right next door !

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