TUCKER’S TOWN, BERMUDA— Tucker’s Point Club here has broken ground on a new phase of its residential and resort development: The Residence Club at Tuckers Point. In conjunction with the closing of a $22-million development loan from the Bank of N. T. Butterfield & Sons, construction of 20 luxury fractional-ownership villas is now underway and occupancy of the first residences is scheduled for spring of 2005. Ed Trippe, president of Tucker’s Point Club, said the Residence Club at Tucker’s Point is the “first” of its kind in Bermuda and that Tucker’s Point Club will consequently bring the first new luxury hotel to Bermuda in 30 years. This real-estate ownership concept, said to be unprecedented on-island, affords Residence Club owners a deeded fractional interest in a Bermuda vacation home at Tucker’s Point Club as well as flexible access to their residence throughout the year. Owners’ benefits include membership to the Tucker’s Point Club Golf, Beach & Tennis Club and all the services and amenities of a world-class resort.
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