Dart Buys Hungry Iguana and Paradise Villas on Little Cayman

[KathyV]

See link below. Dart is the huge real estate developer that has made several large land purchases on Grand Cayman recently, including the old Hyatt Hotel on Seven Mile Beach. The company says that that they are not planning a large project on Little Cayman but haven't decided what to do with the property.

The Hungry Iguana is one of our favorite eateries on LC, their Lionfish tacos and conch dishes are excellent and the restaurant and bar have a nice, quiet, local vibe. I have seen a lot of divemasters hanging out there after work. I guess that I will have to try and get back there before it disappears.

I don't think that a large hotel would work on LC as long as the airport remains small and the Twin Otters are largest aircraft that can fly in and out - but I suppose that can change, too.

Dart buys Little Cayman resort | Cayman Compass

 

[KathyV]

And speaking of Little Cayman, a new dock and boat ramp were just opened for the public:

New dock for Little Cayman | Cayman Compass

 

[Doctorfish]

"There goes the neighborhood"
This is terrible news. LC was one of the last quiet untouched places in the Caribbean. Dart never does anything with a small footprint. Soon, I imagine there will be a big hotel +/- marina, and all the awful things that go with it.

It will probably take a few years for planning and getting legislative approval to develop, so at least there is still some time to still enjoy LC as it currently exists.

 

[KathyV]

http://www.caymannewresident.com/Caymans-outlook

Cayman Brac and Little Cayman

While development along Grand Cayman's renowned Seven Mile Beach corridor remains robust, the Government has promised that Cayman Brac and Little Cayman will have a decidedly different future; residents and return visitors flock to the Sister Islands for a more tranquil and eco-friendly experience. Stakeholders and conservationist are hopeful that unsuitable developments, that would mar that experience, will be avoided given what is happening in tiny Bimini (Bahamas) after the development of the Bimini Bay Resort. The recent construction of the 10,000 square foot casino and a 343-room hotel and marina has angered many locals, as large scale developments such as these are changing the face of one of the Bahamas' most treasured Out Islands.

In early June 2016, it was announced that the Dart Group had acquired Paradise Villas resort and the Hungry Iguana restaurant in Little Cayman. No immediate redevelopment plans were revealed, but CEO of Dart Realty Mark VanDevlde maintains that the Group is committed to preserving the unique characteristics of Little Cayman.

 

[Doctorfish]

And if you actually believe that B.S. Maybe I can interest you in some swampland in Florida as well.

 

[Rhone Man]

People love to paint Dart as a pariah, but the man's interest in Cayman goes deeper than the purely financial. He owns absolutely vast swathes of Grand Cayman which he has so far left completely undeveloped. And several boutique shops in his expensive Camana Bay shopping area get deals that are virtually rent free because he says he wants to maintain a nice feel and character to the place. Forgive me if I am not in a rush to hang a man who has done so much for the country just for buying a business. Let's wait and see what he does.

 

[drrich2]

Dart is the huge real estate developer that has made several large land purchases on Grand Cayman recently, including the old Hyatt Hotel on Seven Mile Beach. The company says that that they are not planning a large project on Little Cayman but haven't decided what to do with the property.

I don't pretend to know what goes through this specific man's mind. It seems to me unusual for an individual or business to spend/invest what I presume would be large amounts of money for expensive real estate (I'm guessing a hotel on Seven Mile Beach ain't cheap) and not have some kind of plan as to what they intend to do with the property, usually an idea intended to result in economic profit over time.

He owns absolutely vast swathes of Grand Cayman which he has so far left completely undeveloped.

For now.

And several boutique shops in his expensive Camana Bay shopping area get deals that are virtually rent free because he says he wants to maintain a nice feel and character to the place.

I hope he's one of those rare jewels, a philanthropically minded vastly wealthy conservationist who loves the area.

I guess we'll just have to watch and see what happens.

Richard.

 

[Rhone Man]

It seems to me unusual for an individual or business to spend/invest what I presume would be large amounts of money for expensive real estate (I'm guessing a hotel on Seven Mile Beach ain't cheap) and not have some kind of plan as to what they intend to do with the property, usually an idea intended to result in economic profit over time.

Although for him the amounts are not that huge. The man is worth $6.6 billion, and I am guessing like most property gurus, his commercial investments are predominantly financed with debt (but his philanthropic acquisitions are probably not).

Kenneth Dart - Wikipedia, the free encyclopedia

 

[Doctorfish]

I'm not painting Dart as a pariah, just as a businessman.
Why would anyone buy a chunk of Little Cayman oceanfront if not as an investment for potential future development.

 

[KathyV]

Below is an article that says Dart had previously donated funds and land to protect the ecology of Little Cayman. But the article also says that although they have no immediate plans to develop the Paradise Villas and Hungry Iguana purchase, they do plan to evaluate the property for "sustainable options". I wonder what that means, hmmm.

I don't know if they have zoning laws in Cayman but it is already a commercial property so it would not be stretch to imagine that they might develop it. But if they truly are dedicated to preserving the charm and ecology of Little Cayman then hopefully they will not turn it into a huge mega resort. I also hope that they bind it up with legal protection to keep it from being over-developed by future generations and/or future corporate leaders because things can change.

If they do build a large resort then the airport would have to be expanded to take larger planes in order to fill up a big hotel.

It's hard to imagine that the government would put the ecological and cultural issues ahead of commercial value, especially since they have approved building a huge cruise pier in Grand Cayman.

So if you've never been to LC, or haven't been there in a while, then this might be a good time to visit.

Dart buys Little Cayman properties