
Yet another application has been sent to the Chief Town Planner for a change of use to land previously used to support agriculture. BU family member Nostradamus has been persistent in drawing to the attention of the BU family that land in excess of 24.7 acres require that an environmental impact assessment be done. This time it is the Northridge Development Company Limited who has submitted an application to convert the alleged cash trap Pickering Plantation. The area is expected to be transformed into a sprawling development over nine years.
Looks like Ambassador Kellman is getting his wish to convert St. Lucy into a hustling second city IF the Town Planner approves the application.
If our understanding is correct the Pickering Plantation represents 233 acres of which 180 is designated agriculture and the remainder industrial. We are writing subject to correction but the geography of the area straddles Broomfield and Spring Hall.
Based on information received close to one thousand 2 bedroom, 6 bedroom houses will be built on square footage from a low 950 to 5700. Over 200, 000 square feet is proposed to be allocated to commercial i.e. retail and office space. There is 75, 000 to be allocated to rental i.e.warehousing and light industry. Compared to St. Davids we like the proposal to build a freshwater commercial fish farm and treatment plant to convert sewage to secondary use. There is the usual Day Care and Primary School among other recommendations.
As we understand it Pickering Plantation has been a loss-maker for several years. Production cost per acre has been reported as $1600 in contrast to revenue listed at $1200 accruing an annual loss of $72,000. The plantation employed a maximum of 5 people. Another reason given to convert the plantation to concrete is the low irrigation suffered by the area which discourages non-sugar agriculture. On this note the development is projected to have water needs of 2.542 million cubic metres and although it proposes to self-generate water there is projected to be a shortfall of 1.1.million cubic metres.
Who are the individuals behind the Northridge company we are not sure but given the proposed cost of 1.1 billion of which shareholder equity is reported to be 800 million and the difference a loan, they must be people of means.






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