Building 5 to be finished by private developer

In 2015, the BVI Ports Authority contracted Autland Heavy Equipment for $2.5 million to construct “Building Five” at the Tortola Pier Park.

The building was to be leased to Sage Investment Holdings — a company affiliated with the BVI Investment Club — which was to partner with an international restaurant to fit-out and operate the facilities, Communications and Works Minister Mark Vanterpool said at the time.

At the time, project officials were negotiating with the United States-based Margaritaville chain, according to Mr. Vanterpool.

But after Autland installed pilings on the building site, the project stalled in January 2016. Mr. Vanterpool said later that year that construction had been suspended due to design issues that increased the building’s cost to far more than its original $2.5 million price tag, and that work would not resume until officials decided how to move forward with the project.

New plan

Officials have now decided on a plan for the unfinished building: BVIPA Acting Managing Director Al Henley told the Beacon last month that the BVIPA has closed out on its contract with Autland — paying the company $564,000 of the $2.5 million contract for the company’s piling work — and that negotiations are again under way to lease the site to Sage Investment Holdings.

Instead of Autland constructing most of the building as originally planned, Sage would be responsible for finishing the structure and finding a tenant, Mr. Henley said, adding that the BVIPA hopes to conclude negotiations with the company by the end of the year.

Margaritaville

Mr. Vanterpool also said this week that talks are again ongoing to have Sage partner with Margaritaville to operate a restaurant at the site.

However, Investment Club President Meade Malone said that talks are still in the very early stages, and that formal negotiations have not begun yet.

“I really don’t believe there is any story at this time. We have finally just begun corresponding with the Ports on Building Five, [and] there has not been a resumption of any negotiations at this point,” he said in an e-mail response, declining to comment further.

Mr. Vanterpool originally said in late 2015 that he expected the building to be finished by June 2016.

Autland Managing Director Dion Crabbe declined to comment.

Conor King Devitt contributed to this report.

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