“Everyone makes money with the exception of the developer investor.”
Condos here, condos there. Half finished, never finished condos everywhere!
New foreign investor arrives in Barbados!
by “Number 37”
The reason why condos continue to be built in Barbados has nothing whatsoever to do with the ability to sell them.
They are built because someone, largely overseas developer investors, will invest in their construction.
The real estate agents give inflated projections on sales at inflated prices, the local contractors and design consultants reinforce these mistaken projections – the developer investors see profit. The development gets built, everyone makes money with the exception of the developer investor. Some projects never even get to completion.
The problem is the caliber of developer – most are ego investors – business men made good in some other business, who listen to the siren call of the “Barbados Building Machine”. Once the beast is fed and the financial life blood drained from the investor they are discarded until the next fool steps of an airplane.
One way to stop this nonsense would be to require fully audited development business plans to be a condition of the granting of planning permission – then 25% open market sales before the construction can commence. That would identify and kill-off the unsustainable schemes.
Property Developers concerned about Bajan Public: AND THEY SHOULD BE
There’s quite a fuss going on in Barbados over the proposed development of Cove Bay. Bajans have had as much as they can take of developers waltzing onto the island, wining and dining some government officials and then doing whatever the hell they want to do with our precious natural heritage.
With the help of corrupt and inept government officials, developers have walled off much of the West Coast and restricted access to the sea and beaches. With the help of government officials who let them build without deep enough pockets and with no guarantees or deposits, some developers have left unfinished disasters that blot the landscape.
By the law of Barbados, Bajans are supposed to have unrestricted access to the sea and beaches but that’s not the way it’s worked out and we’re plenty vexed about that and we’re not going to tek it any longer. No Sir.
Oh, we’ve also had enough of the developers hiring “consultants” who turn out to be related in some way to public officials. That’s another story for another day, but keep it in mind as you watch what happens at Cove Bay or any other project in Barbados.
The Cove Bay developers know they have a big problem with the public
The Cove Bay developers also know that Bajans are getting a little more militant when it comes to resisting irresponsible development. Continue reading
Barbados wetland habitat about to become sewage treatment pond?
Chancery Lane Development Proposal and Town Hall Meeting
Public Meeting: Be There!
Thursday March 18, 2010 7:30pm
St. Christopher Primary School, Christ Church
Chancery Lane Wetland is located on the south east side of the island just below the ridge of the Old Chancery Lane development. The development proposed for the area is very dense and large scale for the 80 ACRE site consisting of;
30 to 50 residential/villa lots (10,000-15,000 sq.ft.)
200 room Hotel on the beach front
215 Condominiums on the beach front (minimum 5 storeys)
A Sewage treatment plant & sewage ponds
Three (3) breakwaters built in the sea running parallel to the beach (Long Beach)
For those of you interested in finding out more about the actual development and the Environmental Impact Assessment you can find many of the documents online at the Long Beach resource centre on the Graeme Hall Nature Sanctuary website.
Whether you support the commercial, hotel and residential development of the last remaining dune habitat on the south coast or not – read the documents and attend the meeting – otherwise the economic and political elites will continue to do as they please with your future.
So far all the elites have to do is throw in a few words like “sustainable” and they get to turn any wetland bird habitat into a sewage pond and pour concrete where they like.
BFP March 7, 2010: Barbados Environmental Protection Department slams Long Beach development proposal
BFP March 14, 2010: Yes or No? Will Barbados Environment Minister Denis Lowe make a clear statement against development at Long Beach?