Feinstein Stake Bank Project back online

Dean Barrow

Norwegian Cruise Line will have to find a different island for its cruise ship port. But there is another tourism related project in development that far surpasses Norwegian’s hundred million dollar price tag. Stake Bank, originally estimated at US Two hundred and fifty million dollars would include the construction of three luxury hotels, a restaurant and a causeway that would link Belize City to two islands called Drowned Cayes. The causeway and its footprint on the area of Marine Parade to the islands were missing from the original Environmental Impact Assessment.  Stake Bank would be increased in size by a reclamation process and the area would accommodate four cruise ships.  The ambitious project appeared to be shelved but the Prime Minister confirmed that the Feinstein Project is going full steam ahead, minus the causeway.

Prime Minister Dean Barrow

“I don’t know how there was ever a thought that if a project takes place in the south it would divert traffic from Belize City. That cannot be a concern because we made clear to NCL, even at the start of the discussion, that if the project were ever to see the light of day, their sight would be limited to hosting calls only from ships of NCL; no other line would be able to go there. So there was never any question of a conflict between the interests of the Belize City people and the people in the south.”

Reporter

“With that then, will Stake Bank be reconsidered? Is that off the table?”

Prime Minister Dean Barrow

“No, no, no. But Stake Bank was never jettisoned. Stake Bank in fact was approved, in so far as—I am trying to recollect—the Drowned Caye aspect was concerned. There was a point at which the developer said he wouldn’t necessarily be interested any longer in doing the causeway. I gather he’s now said you know looking at all the dynamics and looking at the economic equation, he would want to put back on the table the causeway and that will be considered in the context of the environmental impact assessment and that sort of thing. That project, the Feinstein Project—because I am not sure whether I should call it Drowned Caye or Stake Bank—the Feinstein Project is very much on the table and at a  juncture where it is almost good to go. I would expect that an M.O.U. could be signed in relation to the Feinstein Project very shortly.”

The stake Bank Project has been in the pipeline for years and the new plans now call for a reduction in the scope of the project.