Resort owners have confirmed that residential units are planned for land surrounding the Fairmont Southampton hotel.
Gencom, a Miami-based investment firm, added that the construction of villas was not expected to start until after the completion of renovations to the existing property.
A Special Development Order was granted in 2009 for 130 fractional tourism and residential units at the hotel but the present owners did not say how many buildings could be on the horizon.
Gencom acquired the Fairmont Southampton in 2019 after its purchase of Westend Properties, an on-island firm.
Karim Alibhai, the founder and principal of Gencom, said: “Projects of this nature across the board, whether it’s in our portfolio or what you will see in the US, Central America and other places, do need a residential component to be able to afford the amenities and all the different things you have to build for these projects.
“This project actually was granted an SDO that was never finally signed because the then ownership group was not going to do it.
“So, yes, we do need to do a level of residential development.
“It will be very thoughtfully done that marries into the project vision that we have.
“It’s important as part of our transaction costs that that gets done and also, I think it caters to future needs of residential that Bermuda is going to continue to need as it attracts more people, which more people means better economic spend.”
He added: “I think when we present this to the people … I think they’ll see it’s very well thought-out and done.”
Mr Alibhai said that there was not yet a “full breakdown” of the number of properties that could be added to the site.
He explained: “The total square footage that was approved at the time was over 300,000 square feet and there will be some addition to that but we haven’t worked through all those details.”