Premier, Dr. the Hon. D. Orlando Smith stated at a press conference on 21 April that the discussion with McAlphine, the company that expressed interest in the development of the Prospect Reef resort, was still at a standstill.
Hon. Smith said that the impasse had to do with the development of the Airport, because the investors see the development of a major hotel and the Airport being tied together.
The Premier disclosed that Government is trying to move forward with both the Airport and Prospect Reef project: “We are working on both fronts continuing our discussion with the development of the Airport.”
At a press conference on May 29 last year, Premier Smith assured that the McAlphine Prospect Reef development was still on the table, and that the developers were conducting a feasibility study.
Hon Smith told reporters at that time: “You would recall that some months ago I made an announcement that we invited a particular organization to develop Prospect Reef. That still stands, but the organization has not moved forward with the project as yet.”
Nonetheless, Dr. Smith said that Government was not going to sit and wait, but he did not fully outline the alternative plan. “The developer indicated that they need to do a feasibility study before going forward with the project. Of course, that is reasonable, but we decided not to just simply sit and wait,” the BVI Leader said.
McAlphine was selected to develop Prospect Reef Resort and transform it into a four/five star property. The announcement was made by Premier Smith at a press conference onNovember 12.