PCN kicks off renovation project for The Hill Compound on Sint Eustatius

Commissioners Derreck Simmons and Glenville Smith (l) together with Walter Blijleven and PCN Board Member Roy Hooker unveiling the sing in front of the compound. Photo: PCN

ORANJESTAD- With the unveiling of a project sign on Monday showing The ‘new’ Hill Compound, owner Stichting Pensioenfonds Caribisch Nederland (‘PCN’) has officially started the renovation of this historically valuable complex.

The renovation will take approximately 1.5 years and will be executed under guidance of Michael Newton of Newton Heritage Consulting. Following an extensive tender process, PCN awarded the construction contract to LICCOM Statia B.V., a company with a 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 in PCN’s board. “Everything is now prepared to perfection – let’s get started.”

Once fully renovated, The 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.


A first destination for the spaces in the buildings has already been drawn up and is 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. It is expected that the new look and feel of The Hill Compound will provide a positive stimulus to the centre of Oranjestad.

Investment mix

PCN states they are 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.

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