An innovative green development might have a hefty price tag attached to it, but developers say the expected energy saving costs make owning a piece of South Ocean Palms a smart investment for the long term.
The $12 million project, comprising an exclusive five-acre subdivision in the southwestern end of New Providence, is banking on a rising demand for healthy and environmentally conscious living as the infrastructure breaks ground.
The development's chief financial officer, Shelley Darville, revealed to Guardian Business that approximately $2 million has been invested so far.
"I grew up with my grandmother who was very conscious not to waste anything around the house," she said.
"She instilled that principle of conserving in us. It is still something that I believe in. So I wanted to create an intimate eco-friendly community that's conducive for any family type or size. So partnering with Debby (the project manager) was the perfect fit. She has more than 20 years experience in building and has built a number of green homes. Her company already constructed a number of comfortable, durable environmentally friendly homes. I am impressed with her work and energy, so the development is in great hands."
Currently, the underground electrical utilities are being installed, while the water infrastructure was completed nearly a month ago.
The 13-home development will feature green products such as solar powered streetlights, energy star appliances and range in price from $460,000 to $778,785.
There are seven models to choose from, including a one story home with three bedrooms and 2.5 bath, or a two-story residence with four bedrooms and 3.5 baths.
All houses are "luxurious", turnkey and outfitted with laundry and a garage.
Darville admitted to Guardian Business that no homes have been sold, but said serious inquiries have been made by buyers.
"There are two serious buyers pending completion of infrastructure which is in progress and will be completed within the first quarter. A model home, "Wood Rose", a two-story model is in progress," Darville explained.
Ryan Knowles, realtor at Mario Carey Realty, called South Ocean Palms a breath of fresh air.
"It's truly the first green development in The Bahamas. We are finally catching up with the rest of the world. In Europe, it is mandated that a certain percentage of their buildings must be green," he said.
"I think sales and interest have been slow because it's a new concept and Bahamians tend not to think green."
He applauded their efforts.
"The location is ideal for those that are tired of the hustle and bustle of city life and want to live in a safe, remote community," Knowles noted.
Once a model is chosen, depending on the size of the home, it can take either six or nine months to construct.

Click here to read more at The Nassau Guardian