A portion of West Bay Road will be closed.
Premier the Honourable McKeeva Bush confirmed late today, that government and Dart realty have finalised deal that has stirred controversy in Cayman.
It involves closing a portion of West Bay Road from Public Beach to Yacht Club Drive –extending Esterley Tibbetts Highway to West Bay and redeveloping the former Courtyard Marriott.
Sources close to the situation told Cayman 27 they expected government and Dart Realty would sign a deal this week.
On Tuesday, petitions with nearly 3,500 signatures were handed to the Governor voicing opposition to the deal, but the Premier says this is the best way forward for the country.
“Signing this agreement will immediately impact the economy. It will create jobs. It will put people to work. It will give local business projects contracts and it will enable Caymanians who have been unemployed and have been experiencing real financial strain to actually work and save their homes and feed their families,” Mr. Bush said.
Dart Realty is eligible for $24 million worth of concessions in the deal, but only if they invest at least $350 million worth of development in Cayman.
All though other media houses were in attendance, Cayman 27 was not invited to the press conference and we are awaiting the Premier’s full statement on the deal. Once we receive the full details, we will post it right here on our website and air it on television.
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