It has been a soap opera for a number of years now, as politicians and interest groups fight over the future of Grace Bay. The issue at hand, is whether new developments should be 12 stories high or be limited to the existing 7. The difference doesn’t seem significant, but the sides are dug in deep.
The benefits to building 12 stories high are obvious, more capacity which means more money. The argument is that the price of land has made it so that 12 stories is the only way to make the development viable on Grace Bay. At one point in time, 5 stories, then 7 stories were viable but not today.
A number of developers are on standby waiting for the law to change in order to get shovels in the ground. Even if 7 stories were viable, I am sure the possibility of 12 is going to put things on hold. We have no horse in this race, but the uncertainty is likely the worst case scenario today.
As you stand on the beach looking back at the Grace Bay resorts, you will notice most of them top out at 5 stories. A number of years ago, this limit was raised to 7 which you will see at such resorts as Seven Stars. Going to 12 stories however is thought to change the landscape of Grace Bay a bit too much. It would also allow for much higher density of guests, which Providenciales may not be able to accommodate.
There are a few other points against going higher as well. One being the shadow cast by the taller towers on the smaller resorts next door. This may seem like an insignificant point, but not to those owners of these smaller resorts.
For now, we wait to hear about the future of Grace Bay. Regardless of the outcome however, a lot of local businesses and the local work force wait with baited breath for this to sort itself out.