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MyBahamianBlog: **Lutra Get Swing**
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Posted by:Jun 18th 2005, 07:07:13 pm
Fig Tree News

So, who's telling the truth?

Alvin Smith the MP for North Eleuthera says we get swing from the government. He say that the government says that Eleuthera is booming. (We quote heavily from the Guardian in this piece).

Smith said: a Heads of Agreement was signed for a group to develop the old Club Med site in Eleuthera, but no one is presently working in the area. "They demolished the buildings but nobody's working. [Also] at the Windermere site, you've only got 15 people there working, planting some trees and using contractors to push some road through," he reported.

Smith added: he was "tired" of witnessing "groundbreaking" ceremonies, after which nothing else happens. He claimed that in many cases, following the announcement of investments, not one block was laid and no one was hired. He, therefore, stated that he would not push the various investments to North Eleutherans until he sees some tangible evidence of development. Mr Smith further indicated that the former PLP administration heavily pushed the construction of Ocean Bight in Exuma, but this project never came to fruition.

Our speculation is that perhaps investors jump through hoops trying to get their project approved, and when they sit back and take a sober second look. When they do, they come to the awful realisation that this een gonna be a picnic, so they quietly stop. This is what happened with that billion dollar Ginn project in Grand Bahama West End.

Here is a list of the announced Eleuthera projects:

* A $300 million development for South Eleuthera with the redevelopment of the Cotton Bay Club by Eleuthera Properties Ltd.

* The $75 million capital investment in Central Eleuthera (on Windermere Island) by the Windermere Island North Development Ltd.

* Two major world-class resort projects by Salsa Beach Ltd. in Eleuthera at Half Sound and Winding Bay and Hatchet Bay.

* Governor's Harbour Resort & Marina Ltd. acquired the former Club Med property. This Developer plans to invest up to forty million dollars ($40,000,000) in a luxury hotel, villas, marina and other facilities.

Maybe some our 'Lutra peeps can tell us which ones are really happening.

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