Ascot Grand Bahama condo-tel developer Steve Bell said the project, which had been kept secret until last month, is now one year in the gestation phase. He described the project as being built not on dreams but on "solid, conservative financials and with perfect timing". Speaking at a Rotary meeting in Grand Bahama, Bell acknowledged that while there have been a number of people with negative responses to the project, the interest from the industry was "immediate" and "overwhelming".
The developer was enthusiastic about the prospects for Ascot, Grand Bahama.
"The progress to date has been monumental. It took a year of research, refinement, meetings and planning, but within hours of the project going public, investors started calling, and we have already shelved one while determining the absolute best deal for the project and whether we require any more assistance than what is already here on the island," Bell said.
He also reported that pre-construction sales are set to begin "in the coming months" and have generated "overwhelming immediate interest".
Bell lives on Grand Bahama, and told the meeting he had been reluctant to take on a project in his home, admitting to a certain skepticism. Still, he said, his views have clearly changed.
"It is very clear to me, based on more than 25 years' experience, that this island is not just the soundest investment in The Bahamas but, with the assistance of the Port Authority, it is also the most attractive for business," Bell said.
Bell unveiled Ascot, Grand Bahama, in September. He called it simply "a beachfront residential-resort development", but the artwork and other plans describe an 18-acre spread sporting about 300 resort-residences within walking distance to Port Lucaya. Bell is partnered with world-renowned chef Tim Tibbits, of the AAA 4 Diamond-ranked Flying Fish in Freeport.
Who's behind the scenes
Bell sought to answer some of the questions about who was involved in the project and how it evolved; questions he said were only natural.
"It started from Harry Rahming, a local businessman, suggesting that maybe I should consider this project and tenaciously pushed me until I broke down, did a thorough analysis and decided to commit time and money. Landowner Suzanne Mandt-Raunch, who loves the island, agreed that it is now time to collaborate on something significant for what was her home for so long," Bell reported.
Lawyers Terence Gape, Tara Dorsette and Adam Cafferata are involved in various aspects of the project, as is accountant Maitland Cates and construction professional Wolfgang Geiger.
"Then, of course, comes even more overwhelming support from people that most people know but may never had connected to a project like this," Bell said. "Tony Hanna, AKA 'Tony Macaroni', ensures that all people that come to the island to inspect the site and project get true Bahamian cuisine and hospitality. Lyndah Wells assists with photography of all participants and both her and Mark Da Cunha gathered images for use in proposals."
Project Director Kevin Hubbard is also involved. Hubbard did construction at the Lucayan Plaza Beach Resort and Emerald Bay Resort in the Exumas.
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