grenada Will the Government Pony Up?

It appears that the government of Grenada is willing to jump-start the floundering Four Seasons resort project south of St. Georges.

Earlier this year, the government said that it would consider making a $100 million loan at a discounted rate -– a 25-year term at 2.5 percent interest, with no interest for the first five years -– to the project’s developers if they can’t rustle up the money on their own.

The question now is whether Cinnamon 88, the British entity that’s been trying to develop the 400-acre Mount Hartman Estate property for years, will bite on the offer.

Cinnamon 88, which is led by Robin Paterson and Mike Pemberton, wants to build the biggest Four Seasons resort in the world, including a 124-room hotel, 100 waterfront and golf course villas, 55 houses on nearby Hog Island, a spa, a tennis center, and an 18-hole golf course designed by Mackenzie & Ebert, Ltd., a firm based in Northgate, England.

“Ideally, we would like to see that project get off the ground as early as 2010,” Grenada's finance minister told BBC Worldwide Monitoring in March.

Cinnamon88.com