Minister Zane DeSilva confident about tenant uptake; outlines next phase of “aggressive” affordable housing push
The Bermudian Beach Residences have officially opened after years of redevelopment and shifting plans.
Government hopes the beachfront complex will help ease the housing crunch.
So far, 9 out of 94 units at the Bermudian Beach Residences are currently occupied, with a further 13 under agreement.
The update came from newly appointed Minister of Housing and Municipalities, Zane DeSilva, as he officially opened the property during a media briefing today.
“This project has had a long and complex journey—navigating global market shifts, public health challenges, and evolving development goals,” explained Minister DeSilva.” Originally envisioned as Grand Atlantic, it has now been successfully reimagined into a vibrant, residential beachfront community. Despite the many hurdles, we are proud to deliver a completed project that enhances the island’s housing stock and raises the standard for modern living.”
He was joined by area MP Lawrence Scott and retired former Minister of Public Works, Lieutenant Colonel David Burch, whom he thanked for leading the project through to completion.
Last year, Colonel Burch announced Government’s decision to withdraw from its agreement with Hilton Hotels, which would have seen the site transformed into a boutique condominium hotel.
That breakaway came at a cost of just under $400,000, with total Government investment into the South Shore property amounting to approximately $100 million.
Estimated annual rental revenue from the newly refocused development is $6.1 million. We asked Minister DeSilva how confident he is that all units will be rented. He replied, “I remain very confident.”
“If you just take a look around and see how beautiful this is and you look at the amenities – it’s just fabulous. It’s magnificent. So, I’m hopeful that the units will be rented out fairly quickly.”
The 94 furnished rental units include 25 studio apartments, 25 one-bedroom units, 28 two-bedroom units, and 16 three-bedroom units, with rental prices ranging from $3,000 to $7,000.
Minister DeSilva said the residences are ideal for young professionals, couples, and small families, but stressed that they are “open to all”.
The property also features beach access, fitness areas, and a swimming pool, with requests for proposals underway for a restaurant and wellness centre.
“The site will continue to evolve and serve as an anchor development for the Warwick community,” Minister DeSilva stated. “Let me be clear, this is a step forward, but it is not the destination. The journey continues and the next phase is about affordability, inclusion and equity.”
To that end, he said his Ministry has intensified efforts with partners to speed up the production of accessible, affordable homes – and is working on the development of a medium to long-term housing strategy.
“In the coming weeks, we will present a medium – to long-term housing strategy focused on the following prioritizes: affordable rental developments targeted at low- to middle-income households, rent-geared-to-income programmes for working families, innovative use of land and derelict buildings, public-private partnerships to expand housing opportunities, new solutions to address the needs of single parents and young Bermudians trying to enter the housing market.”
Responding to a question posed by Bermuda Broadcasting, Minister DeSilva doubled down on the urgent need to tackle the issue head-on.
“We have almost 300 people on the waiting list at Bermuda Housing Corporation, and my goal is to – maybe – I hope to be a little bit more aggressive than the former minister, who was aggressive, and you know he produced 70 homes in two years.
“My goal is to produce as many homes as quickly as we can for the people of this country that need them,” he concluded.
