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Investors keen on Capital Hill projects
Two groups of investors are proposing to build two projects on Capital Hill: a cultural center and a small, 60-room hotel.
The other details of the proposals, however, remain under wraps pending a review.
Department of Public Lands Secretary Pete Tenorio said one of the investors is a local, joint venture company, while the other is a foreign-owned corporation group but with a local office in the CNMI.
“They [investors] are working on their proposals. There is a cultural center, and a small hotel of about 60 rooms,” Tenorio said.
The official said one of the companies already submitted a project proposal for the small hotel that is now with DPL. “I’m looking into it,” Tenorio said.
He declined to provide additional details, confirming only that the two projects will not be on the same location but will be “close to each other.”
“I cannot disclose the investors yet, as the department is still reviewing the proposal,” Tenorio said. “This will take time.”
DPL recently said it “has concluded” the lease agreement with Best Sunshine International, Ltd. in Garapan and that lawyers are now finalizing the lease agreement.
Tenorio said Best Sunshine will “get most of a 1.5-hectare property in Garapan.” “After that, we would refer the lease to the zoning authorities for the hearing,” he said.
While the Garapan property is being processed, Tenorio said work on the leasing of a 40-hectare property in Marpi will follow.
He said Best Sunshine will be required to send a more detailed “master plan” on what it intends to do with the 40-hectare property, and will be required to coordinate again with DPL.
Aside from the 40-hectare property, a substantial land area in Naftan Point is also being eyed, Tenorio said.
