The property at Ratho Mill which was owned by Ken Boyea was recently bought by a group of investors local and foreign.
The property which spans some six and a half acres is now being prepared for hotel development.
Prime Minister Gonsalves said the project will cost USD 42 Million or over EC 113 Million.
“The total keys there for the number of rooms at that hotel between apartments and villas will reach close to 200”.
Gonsalves said all of these things are happening because of the infrastructure put in place called the Argyle International airport.
“we are doing ongoing work in respect to the Diamond project and Mt Wynne/Peters Hope development”, Gonsalves said.