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$34M Development Announced for South Eleuthera
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Page 1 of 1Total of 3 messages
Posted by:May 5th 2005, 02:51:07 pm
KimberlyHey there ... the Cape Eleuthera negotiations have in fact been underway for more than two years, with regard to the applications with the Bahamas Investment Authority and Economic Council.

Ditto the Parmenter Group's planned purchase of Romora Bay Club, which took actually longer than usual thanks to the unusual land use agreements in place per previous ownership.
Posted by:May 5th 2005, 08:52:47 am
HIflyerWe visited Cape Eleuthera last week, met the manager and got to see the plans for the developement. It's a shame it took the government 22 months to get the paperwork to where it is today. It makes one wonder how the Romora developtment got so far along so quickly.
Posted by:May 4th 2005, 11:16:16 am
Fig Tree News TeamCongratulations!

http://www.thenassauguardian.net/national_local/327789722641744.php

$34m project signed for Cape Eleuthera

By Barry Williams,Guardian Staff Reporter
barry@nasguard.com

"South Eleuthera is getting back on the map," according to developer Richard DeVos, who was given the green light to commence his development project, detailed in the Heads of Agreement signed by his team and the government at the Cabinet office Tuesday evening.

The estimated $34 million dollar investment, undertaken by the Cape Eleuthera Properties Limited, will begin Phase I of the development immediately.

This phase of the project will include development of property, an addition of 30 hotel rooms to The Inn at Powell Point, office and retail space, casual dining restaurant, and a reverse osmosis desalination plant - all anticipated to be completed in 24 months.

The second phase of the development will conclude the construction of 30 more rooms to The Inn at Powell Point, 15 estate homes, 12 beach villas, retail shops, and landscaping work, which it is reported would be completed in 48 months.

Reconstruction of the Cape Eleuthera Marina is also a part of the development plans and will include a pump-out and treatment station, water and electrical upgrades, dock pedestals for utilities and the upgrading of an existing building to be used as the dock master's and marina office.

Speaking at the signing, Deputy Prime Minister, Cynthia Pratt assured, "This will present dynamic opportunities for the island of Eleuthera and the existing residents.

"It will also result in millions of dollars flowing into the town which will be a great benefit for businesses, creating high quality recreation, social and cultural activities and events, the destination guest, and second vacation home owners," she said.

The developers have reported that it is their intention to employ Bahamians in the pre- and post-development phases of their work, and they "anticipate employing 80-100 Bahamians during peak of construction and 80-100 Bahamians during the operational phase of Powell Point."

It was reported that residents in Eleuthera welcome the development and share in the excitement of the developers. Most appealing to the residents however are the opportunities that would be available to them in the way of jobs and "opportunities for Bahamian entrepreneurs."

According to Mr DeVos, "We'll be using contractors and local talent in every way we can. Some projects of course necessitate going to larger contractors, but clearly, it's the best interest of the project and everybody to stay as local as you can."

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