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New Hotel for 2008

Travel & news discussion about the Turks & Caicos

New Hotel for 2008

Postby KarenS » Sat Jun 17, 2006 7:13 am

Infrastructure construction has begun on the Molasses Reef, a Ritz-Carlton Reserve, and The Island Villas, a Ritz-Carlton-managed group of residential condominiums, on West Caicos in the Turks and Caicos Islands. The developer of the $400 million project is the Logwood Hotel Development Co., a joint venture controlled by David Hartshorn and Alan Lisenby, based in Turks and Caicos, and the Miami-based Gencom Group. Karim Alibhai is president of the Gencom Group.

The Molasses Reef will feature 125 oceanfront cottages of one and two stories located over a half mile of beachfront, a marina, two restaurants, a spa, a business center, three pools and a tennis pavilion. Completion of the resort, approximately 45 condominium/villas and the marina is scheduled for early to mid-2008. About 18 villas have been sold, for a sellout price of about $55 million, said Alibhai.

The island on which the Logwood Hotel project will be built is a wildlife sanctuary with a 500-acre lake and has been uninhabited for about 100 years. The Island Villas will be adjacent to the resort.
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