yes - I got the official press release in the mean time. it seems one part of the building (the residences) will be up for rental.
below only an extract of the PR, full release is here: http://newsroom.hyatt.com/index.php?s=20295&item=123732

CHICAGO (September 25, 2018) –
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“We are thrilled to announce development plans for the first Andaz branded resort and residences in the Caribbean,” said Myles McGourty, senior vice president, Latin America & Caribbean, Hyatt. “We look forward to working with Vista Development Ltd. to introduce the inspiring concept of this luxury lifestyle Hyatt brand to a world-class destination like Turks & Caicos’ coveted Grace Bay.”

The resort will be comprised of two buildings, the 59-key hotel and the 74-unit branded residences, with co-located amenities. Andaz Turks & Caicos Residences at Grace Bay will include studios, one-bedroom, two-bedroom and three-bedroom units, as well as penthouses with four bedrooms. Plans call for residential owners to have the option to participate in a hotel rental program, managed by Andaz Turks & Caicos at Grace Bay.

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