Bryan sends Hotel on the Cay lease agreement to Legislature for approval

Gov. Albert Bryan Jr. said on October 24, 2022, that he had signed and transmitted to the Legislature a negotiated lease agreement between the Virgin Islands government and Christiansted Harbor Resort and Marina LLC for redevelopment of the 7.2-acre Hotel on the Cay property on Protestant Cay.

Under the agreement, the company would receive a 60-year lease and undertake a two-phase, $25 million renovation project. The government said the work would include renovation of 55 existing hotel units, upgrades to the pool and existing restaurants, construction of 60 additional hotel units, dock extensions and improvements to the ferry serving the property from the Christiansted Boardwalk.

The government said the hotel development and operating lease was put out to bid in October 2020 and that Christiansted Harbor Resort and Marina LLC was the winning bidder.

Estimated construction costs were about $8 million for Phase 1 and $17 million for Phase 2. The government estimated completion at about 34 months for Phase 1 and about 30 months for Phase 2.

Official source: https://www.vi.gov/governor-bryan-sends-signed-lease-agreement-to-legislature-for-approval-of-hotel-on-the-cay-redevelopment-project/