West Caicos - Molasses Reef-Island of West Caicos

***Pre construction---On Hold until new financing is created
***Pre construction---Development looking for new financing--On hold
The Lehman Brothers had been financing the Molasses Ritz Carlton and in the fall of 2008 declared bankruptcy
which put the whole resort on hold until another financial institution could bring in
financing to complete the project. It could take between 6 months to a year to find a proper fit between the Ritz Carlton project and a financial institution.
Once called "Belle Isle" West Caicos will be home to a new development for the first time
in 100 years. The West Caicos Reserve a resort community on an uninhabited 11 square
mile island will have the Molasses Reef- a Ritz Carlton Resort. It will be opening in winter of 2008.
Two and three bedroom condominium villas and single family estate homes along with marina townhomes. It
is a 15 minute boat ride to Providenciales. The Marina with its 12 foot draft will have its
own port of entry and its own customs. Future plans include 65 estate homes in 5
separate neighbourhoods 3000 to 8000 sq ft on one to three acres
from $3 million to 8 million, enclave family estates of 10 acres from $6-8 million and
custom made homes on one to 3 acres ranging up to $6 million dollars. The entire
project is expected to take 10 - 12 years to complete.
With only 125 guest rooms and situated in 23 separate beachfront cottages, stretching along 2,600
feet of pristine secluded beach, Molasses Reef represents barefoot luxury at its best.
This exclusive resort will have a reception/greeting area north of the Providenciales airport
so guests and owners can check in and be transported by boat to their accommodation.