Sint Eustatius – The renovation of one of Statia’s most important historical complexes is projected to stimulate much-needed economic and social activity in the capital, Oranjestad. Stichting Pensioenfonds Caribisch Nederland (PCN) has officially started work on The ‘new’ Hill Compound in the historic heart of Oranjestad, with the unveiling of a project sign.
The project will take approximately one-and-a-half years and will be executed under guidance of Michael Newton of Newton Heritage Consulting. Following an extensive tender process, PCN, owners of the complex, awarded the construction contract to LICCOM Statia B.V., a company with broad experience in construction and renovation projects on St. Maarten and St. Eustatius.
“The plan to restore these beautiful and historic buildings to their former glory and to develop them into a mixed-use commercial complex is one of the main objectives of PCN,” said board member Roy Hooker who represents both St. Eustatius and Saba on PCN’s board. “Everything is now prepared to perfection – let’s get started.”
Once fully renovated, the new look and feel Hill Compound will offer a range of possibilities for various functions by making efficient use of the space within and around the buildings. The vision of PCN is to offer, in addition to an intended positive return for the fund, a renewed economic and social function to the community of St. Eustatius, one where everyone feels comfortable. The purpose and initial plan for the spaces in the buildings have already been drawn up and are based on what – from the Statian community – is needed and how local entrepreneurs can play a central role in this.
The master plan focuses on offering various catering establishments, office spaces, a luxury apartment and a gift store. Local entrepreneurs will soon be invited to step forwards if they are interested in one or more of the available units. Investment portfolio mix PCN is committed to investing locally on the BES Islands, in addition to its investments on international financial markets. Part of the total assets are reserved for this purpose.