Andaz Turks & Caicos closed the final phase of financing and will immediately begin construction, marking an important milestone for the highly-anticipated resort and residential property that is poised to bring a fresh, modern luxury offering to the island and famed Grace Bay Beach.
Lead lender Alpha Technologies Inc. marks the final phase of financing on the project led by Vista Development Inc. This milestone shifts the initiative to "shovel-ready", with construction and deployment of the general contractor, BYD TCI Construction, slated to start immediately. "We are truly excited to have our contractor mobilized and to now see Andaz Turks & Caicos coming out of the ground", said Vista Development Construction Manager, Steve McConaghy.
An investor group, led by John Zammit, also joins the project. Mr. Zammit, a longtime Turks & Caicos resident and experienced real estate developer, also joins the board of directors, and rounds out the management team with developers Matt McDonald and Jon Siegel.
Andaz Turks & Caicos will debut as the island's second luxury branded resort, and the first for the Hyatt Hotels portfolio. The project continues to see strong interest since launching sales, surpassing $22 million to-date, and will begin welcoming owners and guests in late 2025.
Stretching more than 5.5 acres, Andaz Turks & Caicos is situated on the celebrated western end of Grace Bay Beach. Real estate here is limited and highly prized, and the development's notable presence next to Smith's Reef brings an authentic, intimate feeling of being quite unlike anywhere else in the world.
A popular destination for travelers and attractive investment opportunity for vacation homeowners, Turks & Caicos is serviced by 20 domestic and international flights, making the remote island paradise easily accessible.
The Bight Settlement, TKCA 1ZZ
Turks and Caicos Islands