Old National Insurance Building to be Demolished

The government plans to demolish the Old National Insurance Building and the adjacent Fire Station to create a park in the city. In related news the Treasury Building will be converted into a “mixed use facility”.It is not widely known that the Treasury Building is another of those “sick buildings”and staff from the Barbados Revenue Authority have been relocated from the Treasury Building to the Building next door.
The blogmaster likes the idea of improving the look of Bridgetown. With the arrival of the Hyatt the government may feel moved to “clean up” Bridgetown on an accelerated timetable.
David, blogmaster

The following was extracted from Thomas Sankara’s Facebook page.

#OLDNISBUILDING Good afternoon, please note I am apolitical and my conscience is not for rent, lease, sublet or hire. Why my silence on matters environmental , busy with school and the maturity of knowing when to speak. Sorry to disappoint those who spread malicious gossip about my silence. William Duguid Ronald Toppin Peter R. Phillips John King David King Arturo Edward Jeffrey Bostic Dwight Sutherland Indar A Weir Edmund Hinkson

When will the sale of the glass doors, glass frames, partitions and other salvageable parts of the building will take place. In case you have forgotten its called #UpCycling and is part of what is known as the #CircularEconomy Kirk Humphrey Dale Marshall. Such a building pre demolition can have materials removed worth hundreds of thousand of dollars and post demolition recovery of metals and debris can reused. Old concrete can make new cement and old metals can make new metals.

This is the taxpayers building and whatever can be sold pre demolition must be salvaged via fire sales. Dominique Tudor Vincent Haynes Heather Cole David Spieler Andrew Simpson

131 thoughts on “Old National Insurance Building to be Demolished

  1. Miller…they got trouble Enuff…they just got that soft in the head fool trying to distract everyone, but their shit is real and it’s coming DOWN…

  2. Miller
    “We are dealing with a massive commercial project with national economic importance to be undertaken by a private sector developer who is out to make a return on the investment…..Which businessman other than a madman would put himself through so much negative publicity, stress and risky premature dealings like applying for a duty-free luxury vehicle unless he is cocksure that his project is a winner?”

    They are project flippers who do this all time. Anyhow in this instance you have answered the question yourself. Why would your pal Maloney persist not knowing where the money is coming from? Furthermore, why would the DF vehicle for a Sales Director be issued without the then MoF being assured of finance? I repeat, the grant of permission is not dependent on the applicant proving they have the finance. If true, Four Seasons would be done and all the other projects that stalled due to financing. I never questioned the financing under the DLP and I don’t question it now, I focus on the principle and design etc. Unlike you, I don’t conflate issues. You’re interested in the finance since the DLP and I said ask the PM or ministers involved. Now stop asking me nonsense about financing.

  3. @ Enuff January 12, 2020 4:09 PM

    So you consider the financing aspect of a project to be “nonsense”?

    What do you think turns an investment plan into revenue-generating commercial realty? Wishing and hoping through prayers and more prayers??

    Who is going to pay the Rams for their compulsory acquired property? The taxpayers?

    So what’s holding up the Blue Horizon plan?

    What has been holding up the Andrew’s sugar factory rehabilitation project to make Barbados self-sufficient in its electricity generation needs?

    Wasn’t that an approved plan just awaiting the drawdown of the approved US$ 270 million loan sitting in a Japanese bank?

    You are beginning to look like a real dummy of a ventriloquist puppet with your strings pulled by lying politicians.

  4. Miller…ah told ya, these tied up themselves so much with their shenanigans….that at this point, they do not know which way is UP..and all their layers and layers and layers of companies are being PEELED BACK EVERY DAY….wait until those with the resources really have a go at all of that..

    ya see Dale Whistleblower was so rattled in the Money Launder’s Inc video from the parliament…he looked like he would CUT & RUN when all the info got revealed, soft bowels…well let me tell ya, they all have a lot to cut and run for…..he well have Enuff company…lol.

    I think someone said Donville’s case is demain=n in Brooklyn, that should be a good practice run for all of them.

  5. Miller
    No I consider you asking me, to be nonsense. I can understand if you write your posts and direct them to the government. How would I know where the finance coming from? A complete and separate process; but you continue to conflate the issues. By the way financing and the financial viability ain’t the same thing. You can undertake the development economics/viability of a project without having secured the finance. The fact that so many projects with permission have stalled proves my point. You may have the last say.

  6. @ Enuff January 12, 2020 7:56 PM

    Of course the “last word” called ‘Commonsense’ shall prevail.
    We are not in any classroom theoretically discussing the financial viability of some hypothetical project.

    The financial viability of an investment project is a result of calculations (based on a set of both quantitative and qualitative assumptions) comparing the projected incomes with estimated expenditures and is deemed acceptable (using an appropriate cost of capital) if the NPV> 0.

    Financing of that project, however, is a real’ transaction involving the use of actual funds provided by the shareholders/owners or sourced from third parties in the form of loans e.g. banks.

    All we are asking for is clarification on whether the Hyatt would be financed by way of foreign direct investment (FDI) or from local sources like the developer’s own money or by way of borrowings from the banks, insurance companies, large trust funds, etc.

    And if the source(s) of finance is going to be local (like the Valerie and Grotto housing projects) whose forex savings (other than the IMF borrowings) would be expected to step up to the collection plate to back the inevitable outflows of forex needed to bring that US$ 175 million project on stream and ready to accommodate foreign guests?

    In other words, would the government have to secure a foreign loan to build up the Central Bank’s foreign reserves?

    So which one you believe the financing (not its ‘estimated’ financial viability) of the Hyatt hotel will come under? FDI, Scotia or Sagicor or NIS?

    You can answer to the Salemite who has more commonsense than you give her credit for.

  7. “All we are asking for is clarification on whether the Hyatt would be financed by way of foreign direct investment (FDI) or from local sources like the developer’s own money or by way of borrowings from the banks, insurance companies, large trust funds, etc”

    we all know the fowls have short memories…but you have been asking that question repeatedly for about 3 YEARS now, since the crooks came up with that Hyatt scam…we all know they are waiting for the treasury and pension fund to return to reasonable levels before they RAID THEM BOTH AGAIN…and give the usual lame excuses about why it has to be done..

    …. remember 4 Seasons scam…60 MILLION US dollars that we know about DISAPPEARED never to be returned to the pension fund, rendering pensioners and disability victims BROKE AND HUNGRY while they pay whiteHOAX to show them how to STARVE THE VULNERABLE…so they can BOAST about meeting IMF targets……it has always been a scam to fill all their pockets and CRIPPLE THE PEOPLE FINANCIALLY ONCE AGAIN.

    hence you will never get a straight answer about where the funds are coming from to build the scam.

  8. And never forget with the Redjet airline…when their 40 million dollar investment ran out…the Bizzy crooks who were investors TRIED their best to RAID THE PENSION FUND TO KEEP IT IN THE AIR…even though it was ALREADY RAIDED for the 4 Seasons scam…

    ……these animals…no disrespect to animals…believe that the Black population’s money belongs to them and are always dipping their corrupt hands in it stealing, thanks to the black faces in parliament…..gotta KEEP reminding them THAT IT DON’T..belong to any of them.

  9. @ WURA-WAR-on-U January 13, 2020 5:57 AM

    Lest you forget the Pierhead Marina scam project which was milked to the max by way of design and redesign.

    Where can you find the Quisling architect behind this one?

    Now where is that project other than locked in a filing cabinet and dumped in the same Carlisle bay?

    How come that ‘prestigious project’ designed to cater to millionaire sailors of pleasure crossing the Atlantic like in the good ole days of sail is not part of the current incarnation of the Bridgetown redevelopment plan?

    What a great marriage of ecstasy that would make!

    Can you imagine disembarking from a multi-million yacht sailing on the high seas to be escorted with the world of pleasure to a crystal palace in the ‘white’ Hyatt sky?

    • @Miller

      To be fair Mia in her role as minister responsible for Investment should address the issue of funding. Given MAM2 has been adopted by this administration one assumes the government should be privy to the finer details. The question- talk about project financing should come before or after TP permissions.

      It is a valid concern knowing that it is a strategic partnership that involves taxpayers support.

  10. @ David January 13, 2020 9:07 AM

    But it is so obvious!

    Without the finance the Hyatt is nothing more than an approved plan of a sky-high dream which has been in the investment pipeline for too long and needs to be brought into the light of reality.

    Hyatt will always have its detractors but the needs and expectations of the majority are for the greater good.

    Has it been convincingly argued by the Guv of the Central Bank (both past and present), that the Hyatt project is an economic lifeline for Barbados to grasp with both hands or it will sink in an unemployment sea of social chaos?

    What’s wrong with fast-tracking the final approval of this Hyatt project the same way certain pieces of legislation or ‘strategic’ concessions are rushed/pushed through the bureaucratic process?

    Barbados is going through an IMF programme and needs to see as many shoots of economic growth as possible in order to generate tax revenues and forex to meet the performance targets and repay the foreign loans.

    BTW, any word about the status of Wyndham and Four Seasons projects?

  11. I keep laughing how wunna keep talking about the “imaginery Hyatt”
    Ok just maybe govt can build a hotel on all that unoccupied land
    Oh and don’t forget the added UNESCO voices adding fuel to 🔥

  12. (Arthur) Miller
    “All we are asking for is clarification on whether the Hyatt would be financed by way of foreign direct investment (FDI) or from local sources like the developer’s own money or by way of borrowings from the banks, insurance companies, large trust funds, etc.”

    And for the umpteenth time how would I know? Is it not best to ask the powers that be rather than me like I have repeatedly stated?

    You are expected to support Abigail de Salemite. Isn’t she a character you created and one of your more infamous ones too? Your crucible somehow seems to be struggling to handle the heat, leading you to conflate, contradict, obfuscate, engage in verbal gymnastics and try to insult. My premise is still irrefutable: the securing of finance is not a requirement of planning permission; and, knowing costs, IRR, NPV etc etc does not mean financing has been secured. I am happy to see the EIA for the hotel (Indego) at the Caribbee site is done and available for public viewing and a meeting scheduled. You and your character may start to draft all yuh attack. Maybe another scam by the government ent?

    • @Miller

      Government must be aware of how the Hyatt will be financed, if this was not the case why would it feel compelled to compulsorily acquire Liquidation Centre?

  13. “My premise is still irrefutable: the securing of finance is not a requirement of planning permission; and, knowing costs, IRR, NPV etc etc does not mean financing has been secured.”

    of course not…the CORRUPT..tend to make it up as they GO ALONG…and it ALWAYS TENDS to end up in the TREASURY and PENSION FUND…ya would think if they were not all so corrupt…they would have changed this backward as ass philosophy already…..no proof ya got 200 MILLION TO BUILD A SCAM HOTEL…NO PLANNING PERMISSION….but what would be the point…no bribes and kickbacks by the MILLIONS of stolen taxpayers and pensioners money involved in that progresive change…..

    that is how the pension fund lost HUNDREDS OF MILLIONS OF DOLLARS….to these damn THIEVES..

    ya sound STRESSED Enuff…go for a swim or a walk.

  14. Miller…my creator, this has gotten too big for moi…someone bigger and badder gotta deal with this…lawdie, we have reached that place where anything can be revealed next AND NONE OF IT ANY GOOD, me much prefer be a spectator from here on in…the fowls can NOW TAKE OVER as they have always wanted…I have paved the way.

  15. @ Enuff January 13, 2020 10:45 AM
    “My premise is still irrefutable: the securing of finance is not a requirement of planning permission; and, knowing costs, IRR, NPV etc etc does not mean financing has been secured.”

    Who is arguing that financing must be secured before planning approval is granted.

    It was never argued to the contrary. The same way it would be stupid to expect the T&CP Office to turn down your application to construct a house on your grand father’s land without you securing a mortgage.

    Listen to me carefully, “enuff’, we are just concerned that this planned Hyatt of a project of many iterations and too many years in the investment pipeline could end up like the Pierhead marina, the Andrews Sugar resuscitation multi-purpose factory, the Canadian-owned solar farm at Codrington, Cahill or even the promised brand new QEH at Kingsland.

    The only sacrificial lambs arising from these great projections of infrastructural improvements are the taxpayers’ pockets aka the Treasury.

    While the Hyatt planning grass is slowly growing the unemployment horse in the construction industry is starving.

    What would be the MoT’s excuse when the promised start date of February 2020 has to be put back again.

    What would be the planning stumbling block this time around? The need to relocate the Bethel Methodist church and disturb the dead and send poor Comissiong into an eternal state of grieving for his daddy?

    “Until an hour before the Devil fell, God thought him beautiful in Heaven.” ― Arthur Miller, The Crucible

  16. What would be the planning stumbling block this time around?
    You already know it is the sales of the condos, the tower of lifestyle to be constructed on these lands. The Willy Lomanesque character driving those dutyless German wheels, has to get a number of ferners to put down, a.k.a downpayment, $US for one of those ‘soon to be completed’ castles in the sky.

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