MBH – The Port of Mandahl Resort Development – Virgin Islands - Project Profile

Synopsis


"MBH The Port of Mandahl Resort Development Virgin Islands - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "MBH The Port of Mandahl Resort Development Virgin Islands - Project Profile" is part of Timetrics database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary


Mandahl Bay Holdings (MBH), a subsidiary of Transcontinental Realty Investors, is planning to build a resort in Saint Thomas Island, United States Virgin Islands.

The project involves the construction of a resort on 162ha of land and will be executed in phases.

The first phase includes the construction of a 300-room Hyatt Regency Hotel. It includes the construction of three on-site restaurants, a spa and fitness center, 1,579m2 meeting and conference space, multi-level interconnected pools, a utility center, a 4,645m2 commercial center, 21 vacation club timeshare units, 46 estate lots for homes and related infrastructure.

The second phase includes the construction of a 200-room, three-star conference center hotel, 67 marina townhouses and cluster housing, 43 estate lots, 158 timeshare units, 3,716m2 of marina commercial space, 50 down island cluster housing units, 32 golf villas, 50 golf cluster housing units, a tennis pavilion, a guest center and related infrastructure.

In March 2014, North Texas EB-5 Regional Center and Omega Puerto Rico Regional Center entered an agreement to raise EB-5 funds for the development of the project.

Springline Architects has been appointed as architect and Greenberg Traurig, LLP as financial advisor for the project.

On November 6, 2014, MBH entered a 99-year lease agreement with the government for the project implementation.

In March 2015, the project was placed on hold.

In August 2016, the project is facing delay, due to legal and funding issues.

Scope


The project involves the construction of a resort on 162ha of land in St Thomas Island, United States Virgin Islands.

The US$487 million project includes the following:

1. Construction of a 300-room Hyatt Regency Hotel in the first phase

2. Construction of 3,716m2 of marina commercial space

3. Construction of 43 estate lots and 158 timeshare units

4. Construction of 50 down island cluster housing units and 50 golf cluster housing units

5. Construction of 32 golf villas

6. Construction of a tennis pavilion and a guest center

7. Construction of a 200-room, three-star conference center hotel in the second phase

8. Construction of 67 marina townhouses and cluster housing

9. Construction of three restaurants

10. Construction of a 1,579m2 meeting and conference space

11. Construction of multilevel interconnected pools

12. Construction of a 4,645m2 commercial center

13. Construction of 21 vacation club timeshare units

14. Construction of 46 estate lots for homes

15. Construction of parking and related infrastructure

16. Installation of elevators

17. Installation of safety and security systems

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1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Scope
6.Description
7.Latest update
8.Background
9.Key Contacts
10.General News, Project News
11.Appendix


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