The highly debated multi-million dollar Pierhead project, slated for the heart of Bridgetown, is receiving further review and work from the firm that owns the property.
Neal and Massy, one of the Caribbean’s largest and most successful conglomerates, has put a consultant to work and a decision will soon be made on whether the project should be done jointly with the Barbados government or if should be done independently.
This is the word from Gervase Warner, President and Group CEO of Neal and Massy. Neal and Massy took majority ownership of Barbados’ largest conglomerate in 2007, Barbados Shipping and Trading (BS&T).
The Pierhead Project has been rekindled since Neal & Massy’s acquisition of BS&T. In order to identify options for a new Neal & Massy/BS&T led initiative, an adviser has been retained to interact with various consulting parties, as well as the Barbados Government, to prepare a high-level plan.
Pending the result of the consultation and the development of the concept plan, decisions on the next step, whether to work independently or jointly with the Barbados Government, will be taken.
Near the end of 2009, renowned realtor Paul Altman gave an update on the project and said: “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.
At the time, Altman had also expressed the view that the master plan was prepared about thirteen years ago. He also believes that the old buildings standing along the Pierhead are “begging to be rescued” and the start-up funding required is “totally affordable”.
