Archaeologists have revealed a vessel of international historic significance is sitting in St. George's Harbor, the only one of its kind in the world.
The marine archaeology team, from East Carolina University in the US, say the suspected remains of HMS Medway could now prove "an important tourist draw card" and must be protected at all costs.
Plans for a new marina have been modified to keep the wreck in situ and the vessel is now a restricted wreck site out-of-bounds to scuba divers.
Derrick Burgess, Minister of Works and Engineering, told the House of Assembly the findings of the archaeological team had resulted in "one of those rare win-win stories".
"Upon discovering the wreck's identity and significance, the Government, archaeologists and the developers immediately began to work together to produce a plan that would protect the site," said Mr. Burgess.