A group of locals have come together to construct a major resort within the south coast of the island.

The project is expected to begin at the end of this month and completed in another 18-20 months.

The developers of the condominiums are local businessmen, Derick Steele, Andrew Bierzynski, Jeffrey Thompson, Nicholas Steele and Anthony Mc Leish.

The project is phase three of the Egmont development. The first phase began with the construction of a bridge on February 17, 1999, followed by the second phase on May 28, 2003 which involved the selling of lots.

Phase three is known as ³Grand Harbour Condominiums², and it will consist of 54 luxury waterfront residences located on Egmont Point. The resort will feature two and three bedroom units, as well as a central facility with restaurant, Spa, and mooring only docks for vessels up to 40ft.

All the buildings are engineered to be hurricane and earthquake resistant using the best building materials and techniques. Every unit will be wired for broadband internet access.

According to Andrew Bierzynski, one of the Director, it was no easy task getting at this point, adding that when completed the facility will contain 134 rooms and will accommodate up to 268 persons.

Steele recalled that when he and his colleagues took the chance and purchased the entire peninsular they were regarded as mad by some people on the island. He said that they have been able to proceed with their plans over the years and have now taken another bold move to provide additional rooms to further develop the island¹s tourism sector.

Steele stated that the property in its entirety contained 196 lots of which 85% have been sold to locals. Prime Minister Dr Keith Mitchell who was on hand for the occasion, expressed his satisfaction with the project and encouraged more Grenadians to take risks.

An internationally renown team of Architects, Designers, Financiers, Engineers, Builders and Consultants have been assembled by the Local Investment Team to handle this phase of the project.