Media Release: Dart Real Estate Submits Coastal Works Application for Beachrock Removal

February 7, 2017News Releases
Cayman real estate company Dart Realty submits beachrock removal application

Dart Real Estate announced today the submittal of a Coastal Works application for partial removal of beachrock immediately offshore the area north of Kimpton Seafire and Tiki Beach, a site which has been identified as the preferred location for a five-star resort and residences.

The rationale for the proposed shoreline improvements is to remove exposed beachrock, which is soft rock comprised of cemented sand, where it protrudes along the shoreline, impeding beachgoers’ ability to enter the sea and swim. This will enhance the recreational quality of the beach for residents and visitors and will facilitate development of the luxury tourism property with a conceptual programme of 225 hotel rooms, 80 residences and 10 villas.

Beachrock

Proposed shoreline improvement

According to an economic impact study issued by Oxford Economics on 17 January 2017, the five-star resort and residences will contribute a total economic impact of over US$600 million during its five-year development and construction. The total development cost, including land acquisition, pre-development costs, and construction costs will exceed US$465 million. Conservatively estimated, the five-star project would sustain 800 jobs at its construction peak and support 1,254 direct and indirect positions in the tourism industry once operations stabilise. Over 20 years, contributions to the Cayman Islands GDP would exceed US$1.7 billion or 2% of GDP, 4% of jobs and 3% of direct revenues to the Cayman Islands Government.

Beachrock

Exposed and submerged beachrock surrounding the December 2016 trial site area

The Coastal Works Application follows a beachrock trial which was approved in November 2016 and executed on 7 December 2016. Dart Real Estate worked closely with the Department of Environment on all aspects of the trial preparation, ensuring compliance with conditions of the approval. The application is informed by more than a year of scientific study, including historical and recent studies conducted by recognised experts with in-depth knowledge of and experience with Grand Cayman’s natural environment, as well as government and community outreach.

Coastal engineering consultants Calvin Giordano & Associates and Applied Technology & Management Inc. evaluated the project using advanced computer modelling and found that the proposed beachrock removal would have minimal impact on the beach in the project area and would allow the beach to recover naturally after storm activity. Dart Real Estate fully supports the Ministry of Environment’s appointing a third-party to review its findings.

Beachrock

Beachrock, a “cemented sand” which was removed during the trial in December 2016

Dart Real Estate has worked to balance the desire to preserve the natural asset of the beach to the greatest extent possible while making it more desirable for the general public and suitable for a development project representing more than US$600 million in economic impact for the Cayman Islands. This site is preferred for the five-star resort given its beach frontage, adjacency to Kimpton Seafire, depth of site, accessibility and pedestrian connectivity to the Cayman Islands Yacht Club. This site allows Dart Real Estate to set the main components of the resort east of the former West Bay Road, in keeping with recommendations of the 2003 Beach Review Assessment Committee (BRAC) report.

“We are committed to responsible, sustainable development and the need to balance economic opportunity with environmental management,” said Jackie Doak, President of Dart Real Estate.

“Dart Real Estate is a conscientious steward of land, and the proposed shoreline improvements are a manifestation of the long-term approach that characterizes all of our developments.”

. . .

Attachments
Dart Real Estate Coastal Works Application Cover Letter + Oxford Economics Report
Dart Real Estate Coastal Works Application Summary
Proposed Shoreline Improvement Graphic
Shoreline Improvement Fact Sheet
Video of the Shoreline Along the Proposed Project Area and Preferred Site for the Five-Star Resort

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