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(February 10 2023)

 

Construction Update Silva Bay Resort & Marina

 

Dear valued supporters, we wanted to provide you with an update on the progress of Silva Bay Resort & Marina. As you know, construction of our hotel and restaurant began last spring, however, a midden discovery caused a delay in the summer. In accordance with regulations, we applied for an archaeological permit and halted construction while an archaeological team conducted research on the site.

 

Unfortunately, the permit process has taken longer than expected and we have not yet received it. This, combined with supply chain issues and rising costs due to inflation, has resulted in us being out of contract with the construction company. As a result, we have made the difficult decision to put the resort development on hold.

 

But this doesn’t mean we are slowing down. In the coming weeks, we will be launching a significant site cleanup to return the property to its original condition, with completion anticipated by mid-May. Our focus will be on our commercial operations, such as the marina, and reinstalling marina facilities and parking areas. Our marketing team will be exploring other interim commercial possibilities such as food trucks and music and festival opportunities.

 

We are grateful for your continued support of Silva Bay Resort & Marina and are committed to providing a memorable experience for our customers and community. Stay tuned for updates on our progress!