Update Fall 2024
To our valued Owners at The Point
We last provided an update in September and as we approach the next phase, we’d like to share the latest news on The Point.
Planning Approvals
Our planning application is at an advanced stage and will be considered by the TCI Planning Board this week. We anticipate receiving the necessary approvals soon thereafter, with our target still to begin site mobilization activities imminently. This mobilization would include setting out the beachfront building, while we put in place essential site infrastructure, and make general preparations for the next very active construction stage.
As you may have concluded from our previous communication with you, we had anticipated our final government approvals to have already been received. However, over the past few months we have seen an evolving planning process in the TCI, with Planning officials now requiring a second round of advertising to the public for important projects such as The Point. This new measure was completed and had no effect, but did add more than a month to our final approval process.
We’ve made good use of the extra time and are now close to finalizing architectural plans, construction details, and pre-mobilization preparations. Our goal remains to begin mobilization before the end of 2024.
Sales
You will recall in our September update that our sales are far ahead of our schedule, with over 75% of our beachfront condominiums now spoken for. In the second quarter of this year, we chose to place a hold on offering any further residences in the beachfront condominium building until we had receipt of our final planning approvals and site mobilization had begun. As to the casitas, we are pleased to report that we have had further activity, and now only six of sixteen remain available.
Team Introduction
As we move closer to the construction phase, our team of development and construction professionals has expanded. We would like to introduce some of the key members:
Jamie Soughton, Director of Development: Jamie has been with the GBR team for nearly three years, leading construction at Grace Bay Club and Rock House. Some of you may have met Jamie at The Point event in New York.
Michael Walker, Developer Representative: Michael joined earlier this year and will work alongside Jamie and our team of architects, interior designers, and engineers. Michael brings extensive project and design experience, most recently working on luxury hotel and residential projects in Austria.
Please feel free to reach out to Michael at mike.walker@gracebayresorts.com with any questions as we proceed with construction.
We appreciate your continued support and look forward to updating you again soon as we move closer to breaking ground.
