One of Barbados’ leading realtors is arguing that the greatest potential for redevelopment on the island lies with Bridgetown and Speightstown.
Paul Altman, Managing Director of Altman Real Estate Services in a self-penned article entitled “The Next Development Wave – REDEVELOPMENT” points to a number of areas in the city that would serve as catalysts for further development and that would greatly add to the property development that already exists.
Altman like many others believes that the Boardwalk in Bridgetown around The Careenage has vastly enhanced the area.
But he points to a major development project which has been on the cards for over a decade as a project which must be started. He says, “The PierHead project must get started – This project on its own has the ability to kick-start the entire redevelopment of the town and especially to wake up development of the entire Carlisle Bay area. It must get started!”
The well-known property developer explains that if it had been implemented ten years ago, it would have been completed today. He adds that the master plan was prepared some thirteen years ago. Moreover Altman argues that the old buildings standing along the PierHead are begging to be rescued and the start-up funding required is totally affordable.
Putting the focus on the historic parliament buildings and the older buildings of the city the experienced property developer notes, “Our Parliament Buildings remain the focal point of our main city. Hincks Street has, to some extent, been rescued but it lacks life; and an attempt to open up the waterside of Carlisle House into a public mini-park provides a taste of the huge redevelopment opportunity for the adjacent car park.”
However he argues that the careful redevelopment of the Old Spirit Bond is unfortunately lost – it is not visible from Broad Street and too close to the very busy Careenage Road for any traffic (foot or motor) to access easily. The Old Empire Cinema’s restoration promise has now past its last reality check and must happen before the building deteriorates further. There are Developers who would be interested in getting involved and the best approach would be a public/private sector partnership.
According to Altman, in Bridgetown, the areas of primary interest for redevelopment stretch along the waterfront from the Bridgetown Port to The Hilton. Of course the idea of extending the port by creating an island remains a viable and significant project on its own. Carlisle Bay Beach is by far the best expanse of beach on the island. Anchored by the Hilton at one end and the PierHead at the other, this stretch has endless potential.
He also contends that Government incentives exist under the Special Development Areas Act and its “action” arm, under the Barbados Tourism Investment Inc and is capable of leading this effort.
