Tinian Oceanview Resort groundbreaking still on

Bridge Investment Group’s groundbreaking of its $40-$60 million Tinian Oceanview Resort and Condominiums project early next month is still on despite the revival of a gaming bill on Saipan.

While the company’s vice president for CNMI operations, Phillip Mendiola-Long, mentioned in an e-mail that Bridge Investment owners are studying the new bill introduced early April at the House of Representatives, he didn’t say that the company is scuttling the planned groundbreaking ceremony times during the island’s San Jose fiesta.

“We have no comment on the Saipan gaming bill introduced by Rep. Oscar Babauta at this time. The owners are still discussing what if any impact or delay this will have on our projects plans to break ground in Fiesta weekend,” Mendiola-Long wrote.

By the looks of things, however, Bridge Investment is expected to go ahead with the project as witnessed by the flurry of activities the company had undertaken the past several weeks, including a recent trip to China by its architectural and design team, Herman B. Cabrera and Associates.

“The initial team will be purchasing vehicles, renting apartments and contracting for services while here. The management team is expected to arrive [this] weekend to conduct this business and find housing for the 30 construction workers,” said Mendiola-Long.

It would be recalled that the project’s original groundbreaking set for late December 2007 was cancelled because of the introduction of House Bill 15-322, a measure that intended to legalize gaming on Saipan.

Sponsored by Rep. Oscar M. Babauta, the “Video Gaming and Entertainment Card Games Act of 2008,” proposes to legalize casino gaming on Saipan, particularly at the former La Fiesta shopping mall.

The proposed legislation is similar to three bills rejected by the previous Legislature. It would allow video lottery terminals, as well as Texas Hold’em poker, black jack and baccarat games, to be operated at the former La Fiesta shopping mall.

Bridge Investment plans to construct a 301-room hotel and casino resort on Tinian as well as 268 condominium rooms in the CNMI’s gambling capital. It will be built on 75,000 square feet of land that the company has leased for 55 years.

Aside from Herman B. Cabrera and Associates, Bridge Investment has also contracted the office of Mailman & Kara, certified public accountant Bruce McMillan, Marianas Development Corp. as its grounds maintenance firm, Power Buildings International as its local construction firm, FPA Inc. for ground clearing, and Marianas Environmental Services to work on its master site permit, environmental study, and prepare its report for the Historic Preservation Office.

Bridge Investment is a company formed by U.S.-mainland based investors Erik F. Wang, Rudy Pamintuan, Howard Li, Ken Wong, Akshay Desai, and Rocky Li.

The company said it also has offices in five different countries—Japan, Korea, China, U.S., and Russia.