This project comes at a time when St. Kitts’ hotel and residential economies are accelerating. The land will be developed into a mixed-use resort development and will feature a globally recognized luxury brand hotel with 150 rooms. The property will include a mix of 424 villas, townhouses and condos, a casino, spa, restaurants, 30,000 sq. ft. of retail space in the hotel and around the marina, a 152 slip marina, 75 dry slips and entertainment components. The site encompasses 152.5 acres with elevations that rise 450 feet above sea level. This dramatic setting provides picturesque views from practically every vantage point of the Atlantic Ocean, Caribbean Sea, the island of Nevis or the marina.
The Developer has worked closely with the Government of St. Kitts to ensure that plans for the future development of the land meet both parties’ goals. The local government is fully informed and supportive of the Developer’s plans for the site. The Developer has already received preliminary planning approval from the Government. In addition to an extensive package of concessions that the Developer has negotiated with the Government, which includes (among others) a 30-year tax holiday (including all income taxes and withholding taxes) and exemptions on import duties during the construction and operational phases, the Government has agreed to contribute capital to the Project and will become a non-equity holding investor. Additionally, the Government has agreed to defer payment of 50% of the applicable port fees at 0% interest until closing of the 75 hotel-condominiums. This degree of support promises to result in the most efficient project cost structure possible (import duties alone in other countries can add between 5% and 10% to the total project costs) and will help maximize the project returns.
World-renowned master planners, maritime design engineers, architects, interior designers, landscape architects and project management engineers are engaged while construction groups have been identified. The Developer is combining 12 years of local St. Kitts expertise with world-renowned firms for its development team.