Sandals bosses downplay $multimillion MoBay project
Published:Sunday | June 6, 2010 | 12:00 AM
Sandals hotel chain bosses, Gordon 'Butch' Stewart and son, Adam Stewart, have downplayed the importance of a planned multi-family housing development they are to undertake in the swanky Freeport area of the resort city of Montego Bay.
Much of the Freeport area is on a western peninsula that is home to a deep-harbour cruise-ship port, yacht club, upscale condominiums and hotels, including the Sunset and Secrets resorts. Industry sources say developments of the scope being planned by the Stewarts could require spending in the region of $200 million.
Sunday Business sources say the Stewarts plan to use their holding company, Gorstew Limited, to construct 12 two-bedroom apartment units and two four-bedroom townhouses on 7,700 square feet of land. Amenities will include swimming pools, pool houses, boathouses, gazebos and a gymnasium.
Construction plans confirmed
Contacted weeks ago, Butch Stewart, the Sandals chairman, confirmed the construction plans but declined to comment further.
This week, Adam Stewart, the Resorts International chief executive officer, said the development was a private one which he wished to keep that way.
"It could be for staff housing, it could be a hotel, whatever it is, it is a private development for me," the Sandals CEO said.
He added that the planned housing was not being built for resale.
"We have owned it (the land) for 20 years (and) it certainly will not be anything for resale, whatever goes on it," Adam Stewart said.
The St James Parish Council, too, confirmed the proposed develop-ment, which it said was approved in 2008.
"The parish council has granted a permit and they have received the (other) relevant permits," Winston Palmer, secretary manager of the St James Parish Council, told Sunday Business.
Environmental permits from the National Environment and Planning Agency were said to have been granted in April of 2008.