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Prospect Reef Resort to be developed- Premier Wheatley

- said Gov’t intends to have request for proposals in early 2023 if not before
The Unity Government has plans to see the development of Prospect Reef Resort, which was destroyed by the hurricanes of 2017. Photo: VINO/File
According to Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7), the development of Prospect Reef will include conference facilities, which will help support the financial services industry as well as other business administrators. Photo: YouTube
According to Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7), the development of Prospect Reef will include conference facilities, which will help support the financial services industry as well as other business administrators. Photo: YouTube
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
DUFF’S BOTTOM, Tortola, VI- With the prospect of increased airlift and maritime traffic to the territory, the Unity Government has said opportunities will be created for investors to increase the beds available in the Territory, along with tourism development projects to support the sector.

According to Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7), the Virgin Islands can therefore expect to see request for proposals to spur the construction of new hotel properties.

“One such area for development is Prospect Reef. I have discussed the matter with the Chairman of the Prospect Reef Board and we intent to have a request for proposal early 2023 if not sooner,” Dr Wheatley stated in 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.

According to Dr Wheatley, the development of Prospect Reef will include conference facilities, which will help support the financial services industry as well as other business administrators.

2 failed deals to develop Prospect Reef

The Prospect Reef Hotel and Resort was purchased by the VI government for $6 million in 2005.

A $100M deal 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 and destroyed the property, which has been left in ruins since then.

23 Responses to “Prospect Reef Resort to be developed- Premier Wheatley”

  • What? (30/11/2022, 08:00) Like (22) Dislike (12) Reply
    All the structures needed destroying and rebuilding long before Irma. Sounds like there is an interested party already on the ground. This project will take several years to complete unless the developer is allowed to bring in a large crew and trucks and heavy equipment. Prospect Reef as it now exists is an expensive property to maintain owing to it's sprawling nature, many buildings and gardens and water frontage. One or more high rise buildings would be what I expect a developer to do. Let's see what comes of this announcement by our current Premier.
  • Migomanf (30/11/2022, 08:24) Like (52) Dislike (9) Reply
    Highly unlikely that you be in office for this development so dont worry too much about it.
  • HotSpot (30/11/2022, 08:44) Like (19) Dislike (2) Reply
    It will be just another white elephant soaking up tax payer's money unless the correct ideas are implemented, and significant sums of money are spent. The cycle starts again.....
  • 3rd district (30/11/2022, 08:51) Like (42) Dislike (0) Reply
    Prospect reef, Incinerator, Horse track, Sewage treatment plant and Water plant are all government fault/failures.
  • Time shareholders (30/11/2022, 08:53) Like (18) Dislike (3) Reply
    Prospect Reef Hotel can't move forward without settling with us.
    • tola (30/11/2022, 09:54) Like (17) Dislike (4) Reply
      Go to Romney them who take the prospect reef property
    • okay (30/11/2022, 10:01) Like (6) Dislike (5) Reply
      Your grievances are with the previous owner, Cyril Romney. That has nothing to do with the new buyers as far as i am concerned. You therefore need to deal with his estate on that matter. There is not existing agreement with Government and any time shareholders.
      • trevor (30/11/2022, 12:24) Like (11) Dislike (1) Reply
        You are wrong. The government bought the property with full knowledge of the time share program. It was after the purchase that the government of the day dropped the ball by trying to ignore/cut out the time share. These people have a class action law suit against the BVI government.
        As well they should, they were cheated by the BVI. Another legal debacle caused by arrogance.
    • What! (30/11/2022, 12:28) Like (2) Dislike (1) Reply
      They were selling time shares in Prospect Reef?

      SellMyTimeShare.COM lol
      https://www.youtube.com/watch?v=lvuZKpgvKbI&t=47s
  • pie in the sky (30/11/2022, 09:13) Like (38) Dislike (1) Reply
    He can't get the bushes cut along the road, but he is bringing back music fest and prospect Reef?
    • Apple on a stick (30/11/2022, 09:43) Like (6) Dislike (1) Reply
      He might have to apply to be a bush cutter on his own RATED programme when looking work after election day.
  • People Voice (30/11/2022, 09:52) Like (16) Dislike (1) Reply
    Can you give us a report on how much money was spend renting the CTL Building and the Save The Seed Energy Center?
    I can imagine the combine total could have built back sections of Prospect.
    It's time to demo that entire hotel.
    And while you are at it, remove the sewage plant. That area is still considered to be in town, and it’s totally disgusting.
  • Rubber Duck (30/11/2022, 11:38) Like (10) Dislike (4) Reply
    Prospect Reef is in the wrong place for a hotel, no beach , sewage works not far away. It would be better off being developed asa marina and housing.
    • jah know (02/12/2022, 08:10) Like (0) Dislike (0) Reply
      Here in the BVI alot of places are in the wrong place to begin with, that's why it's hard for us to develop certain things.
  • ? (30/11/2022, 12:49) Like (2) Dislike (0) Reply
    hahahahaahahahaaahhaaahhhhaaa
  • johnny (30/11/2022, 15:14) Like (4) Dislike (1) Reply
    Have all the cheated time shareholders been compensated yet ????
  • Well I’ll be damed (30/11/2022, 15:27) Like (3) Dislike (1) Reply
    The Government goes through money like a damn running water faucet stuck on the on button. May as well write every citizen of the territory a check every month and call it a day. What ever development they build on the old Prospect Reef grounds is not going to benefit the people anyway. This time around, no development is going on without the peoples input. THIS TIME AROUND, IF THE PEOPLE IS NOT INVOLVED, BACKHOES, BULLDOZERS, CEMENT TRUCKS WHATEVER WILL BE BLOCKING THE ENTRANCE. PEOPLE IS NO LONGER PLAYING WITH YOU ALL.
  • Loose mouth (30/11/2022, 17:28) Like (8) Dislike (0) Reply
    Prospect Reef Hotel was amongst the Virgin Islands' finest in the eighties. It was a bee hive of fun and activities with the well kept channel that ran through it's center. This was the home of a turtle and other marine creatures. The harbor was always filled with yachts and day carers. I remember Mr.Cliff one of the fishing charters that would take you out daily for fishing escorts. The small bookstore, craft and sandwich shops, and other on-site restaurants. Most of all I remember its friendly staff, some I still see today. This pleasant fragrance of memory would flood my mind whenever I pass this area. It was such a shame to see it become so dilapidated. I am glad that some consideration is being given to restoring it but nothing could replace the treasured moments I had at Prospect Reef Hotel..
  • WEW (30/11/2022, 18:26) Like (1) Dislike (0) Reply
    Again? For the past 20 years around election time.
  • Stop! (01/12/2022, 07:30) Like (6) Dislike (0) Reply
    Sell the place to a real developer (not to your local buddy). Let people that know how to do this make it happen and get out of the way!
  • sense (01/12/2022, 09:28) Like (1) Dislike (1) Reply
    It’s best they rebuild that resort from scratch. It’s time for an upgrade. It’s time for them to develop the BVI with new changes, modern buildings and a better living that provides luxurious accommodation for guest.
  • AH GO SAY IT AGAIN (01/12/2022, 14:12) Like (1) Dislike (0) Reply
    these actors & actresses singing like canaries again , while they squandering our taxpayers money ???? renting this and renting that like having a party / office spaces , ctl , barges , save the bishUP seeds etc , ALL those wasted $$$ could of been ninvested in government building their own buildings which will be owned by the government , just think the amount of money would of been saved and used to advance the country ( like the roads for instance ) and ask yourself , ,( IS THIS A FAMILY AFFAIR ❓ OR A FRIEND THING , and they still think of themselves as ARISTOCRATS ????


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