It’s one of the most booming tourist destinations in Belize and real estate values in Placencia are booming. And that’s caused concern for many villagers who fear that with prices so high and land so scarce – there won’t be anything left for their children. That’s why a new development has raised so many eyebrows. It’s fixed on the lagoon at the southwestern edge of the peninsula and represents the final frontier in real estate on Placencia. Final frontier because that’s just about the last bit of land there is to create on the peninsula. In the first week of November, our news team went to Placencia to see what the fuss is about.
Jules Vasquez Reporting,
When excavators hit the ground churning – and three at a time – on the last piece of land available in Placencia – here in the lagoon at the southwestern tip, it’s sure to cause a local stir and back in November it did just that.
Verna Ferrell, Resident
“This land was supposed to be for the people of Placencia and I guess as you are aware we don’t have anymore land to full and we have a lot of young people who have nowhere to go. So I really want to know what’s going on with the land.”
What’s going on is that the last 102 acres are being filled and readied for development by Reagan International Limited. But 70% of the developed land is supposed to be set aside as 160 residential lots and public spaces for the community. Dennis Johnson of Reagan International is the developer.
Dennis Johnson, Developer
“There’s 102 acres of land, government land, its private land now that we are developing in a roughly a 70-30 split so to speak.”
Verna Ferrell,
“Is there proof, is there something signed that that’s what is going to happen?”
Brian Yearwood, Village Council Chairman
“Well you know how promises when it comes to land and the country
of Belize. So I don’t go by promises, I go by properly structured legal contracts.”
Alfonso Noble,
What I am getting from you basically is that you have no faith in the developer, that is what you are saying here.
Brian Yearwood,
“Well its not that I don’t have any faith, I am just stating the legal situation. If I have a land certificate, you and I had promises, I have seen things changed.”
And that’s just the public apprehension that this developer has to overcome – particularly when land is so precious and so scarce. And that’s why even the title to this property which is in Reagan International’s name is an issue.
Brian Yearwood,
“The other major issue is that the government awarded these people the entire land certificate. The name of the land certificate is Regain International Limited. The land certificate should have been awarded to Reagan International Limited and the Placencia Village Council, that is a proper joint venture.”
Dennis Johnson,
“I am not aware of any financing institution that would finance to the tune of a couple million dollars for
example to a local entity to go on and ahead and start excavating and filling land. It is much easier to hold a private entity responsible. So while Reagan technically, the land is titled to us, that is only for purposes of expediency of work.”
And Yearwood says that same expediency – in this case abetted by self-interest is what is steering the project.
Brian Yearwood,
“They are developing their marina first. So they are going to make millions of U.S. dollars first and then, only then, maybe the people of Placencia might two years from now get their lots.”
Dennis Johnson,
“We are developing the private land first and the public land second. That is the first time I’ve heard of that. I’ve heard a lot of rumors about this project but I’ve never heard that one before and we will make sure that that doesn’t happen.”
But what will happen – by the plan is that 160 lots –will be made available.
Dennis Johnson,
“But coming back to what’s in it for the locals, there are the public lots at greatly subsidized prices, the public land, the football field.”
Those filled lots will be sold at for $25,000 to $30,000 each. Considering real estate values in Placencia, that’s cheap, but those who gathered to look at the project say it’s not cheap enough.
Dennis Johnson,
“We estimate at this point lots will be selling for about $25,000 to $30,000 at max.”
Brian Yearwood,
“Somewhere in the area of $25,00 which personally I feel is way too much for the people that really need the lots.”
Mortis Villanueva, Villager
“The price might be that high that we can’t get to it. Somebody else will come in and buy it.”
David Torres, Villager
“Yes 160 lots will be available but how many Belizeans can put front $30,000? One in a million. Yes they are making an option for us but it is a propaganda too. A 160 lots bur how many of us can afford it?”
David Vernon, Villager
“A developer is going to do it for profit and that is what the villagers have to realize, that it is not going to come for free and even at $25,000 or $30,000 – that’s still cheap land in Placencia because at the end of the day this land will be worth US$89,000.”
Dennis Johnson,
“Obviously $30,000 can sound like a lot of money but depending on how it is structured, can also be very very affordable. Obviously a lot of people will not get lots but that won’t be because it is not affordable to anybody with almost any kind of needs can pay for it.”
And while Johnson says financing will be made available, the fact is that no one we met on this day – apart form the developer is quite sure what’s going to happen here – and as long as that uncertainty prevails – disputes like these will continue.
Dennis Johnson,
“I certainly don’t relish the fact, in fact I hate it I should say, I hate is a strong word, but I am in some sort of conflict with the village council chairman. This has caught me by surprise. I had no idea I was in conflict with the village council chairman. He seems to have wanted to go down this route first so when we finish this interview I might just go talk to him.”
Since we did that interview in November that’s just what Johnson and Yearwood have done. They met and discussed the project with the village council. Yearwood says he agrees it’s not a bad plan, but remains concerned that Johnson must come through with his commitments as agreed.
7NEWS produced for broadcast by News Director Jules Vasquez
Edited and Prepared for the internet by Keith Swift
