SHORELINE IMPROVEMENT WITH ECONOMIC DEVELOPMENT Dart Real Estate is submitting a Coastal Works Application to remove an area of exposed beachrock to improve the recreational quality of the beach which will facilitate development of luxury tourism property. COASTAL WORKS APPLICATION The total study area is 2,500 feet along Seven Mile Beach. Dart Real Estate is applying to remove 1,225 feet of beachrock between the shoreline and a depth of 4.5 feet below mean sea level, all in shallow areas seaward of land owned by Dart Real Estate. The application excludes any beachrock deeper than 4.5 feet below mean sea level; only shallow beachrock that impedes entry into the sea and swimming would be removed. The application is to remove 8,400 cubic yards combined of beachrock and peat thought to lie under the bedrock based on findings from the December 7, 2016 trial removal. The beachrock removal trial found beachrock slabs to be thin (averaging 12 inches), brittle and easily removed. Beachrock and peat to be removed would be replaced with an equal volume of sand, sourced from the Dart Real Estate site east of the former West Bay Road. This sand was approved for use by the Cayman Islands Government and was used to replace the beachrock removed inthe trial. Staged removal methodology would expand on that successfully deployed in the trial, using new silt screens and closely monitored. Active excavation of the 1,225 feet of shallow beachrock would take less than a week. The application has been informed by studies conducted by recognized experts with knowledge of and experience with Grand Cayman’s environment, using historical studies, recent evaluations and advanced computer modelling technology. ENVIRONMENTAL AND SHORELINE CONSIDERATIONS Detailed surveys of the study area from marine biologists at Cardno report that the shallow beachrock formation has a low density of coral colonies with little diversity compared to actual reefs nearby in deeper water. Dart Real Estate has participated in the Department of Environment’s turtle nest monitoring programme and would schedule removal around the active nesting season. Dart Real Estate would work closely with CIG and DoE to receive guidance on policies, help inform the process and documentation requirements and consult on methodologies, complying with all conditions as it did with the trial. Coastal Engineers from CGA/ATM have evaluated projections using the advanced computer modelling and found that beachrock removal would have minimal impact on the beach. Modelling also shows that beach advancement after storm activity is expected to be similar to adjacent sections of beach without beachrock. The application excludes 250 feet of beachrock at the northern end of the beachrock formation, part of which is directly seaward of land owned by others. Dart Real Estate would welcome a Third Party Review by a mutually agreed coastal engineering firm. SHORELINE IMPROVEMENT WITH ECONOMIC DEVELOPMENT FIVE STAR RESORT AND RESIDENCES ON SEVEN MILE BEACH Dart Real Estate and its selected operator have identified the site as the preferred location for a luxury property with a conceptual programme of 225 hotel rooms, 80 residences and 10 villas. Dart Real Estate evaluated various locations for the new five star resort and this area was chosen due to the depth of the parcel, beach frontage and pedestrian connectivity to the east to the Cayman Islands Yacht Club. Critical to the preservation of the beach’s natural movement is Dart Real Estate’s commitment to develop the main components of the new resort east of the former West Bay Road. According to an economic impact study issued by Oxford Economics on January 17, 2017, the five star resort and residences will contribute a total economic impact of over $600 million during its five year development and construction. The total development cost, including land acquisition, pre-development costs, and construction costs will exceed $465 million. Conservatively estimated, the five star project would sustain 800 jobs at its construction peak and support 1,254 direct and indirect positions in the tourism industry once operations stabilise. Over 20 years, contributions to the Cayman Islands GDP would exceed $1.7 billion or 2% of GDP, 4% of jobs and 3% of direct revenues to CIG. COMMITMENT TO SUSTAINABLE DEVELOPMENT Minimal impact on the beach is acceptable to Dart Real Estate as the landowner particularly when coupled with setbacks for the main resort buildings east of the former West Bay Road and the increased enjoyment of the beach and the economic impact of the planned five star resort development. “ Dart Real Estate’s development history over the last two decades is a testament to balancing economic opportunity with environmental management and a thoughtful approach. Dart Real Estate is a conscientious steward of land and resources and this application is designed to balance environmental management and economic growth through sustainable development. Dart Real Estate is a conscientious steward of land and resources and this application is designed to balance environmental management and economic growth through sustainable development. ”
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