GREGORY TOWN, Eleuthera - A new $30 million, 50-room resort in North Eleuthera is expected to employ close to 200 Bahamians once its doors re-open in November.
Yesterday, Prime Minister Perry Christie toured the site of the 35-acre Cove Eleuthera Resort.
Christie told Guardian Business that the development is a testament that investors are once again becoming confident in The Bahamas. The current site has been in existence since 1969 and undergone several changes in ownership.
However, the prime minister believes the new owner behind the Cove Eleuthera Resort will generate just the kind of turnaround that the North Eleuthera community needs to boost its economy.
"I have been involved with people who have bought and sold this property many times, never making it a success. And I would come here and sit with them. We cannot have an investor come into this part of Eleuthera where there is no other such investment and fail. We must give him the support that he needs and pay attention to what is going on here," according to Christie.

"If he succeeds, then perhaps he will do another on this island or on another one. But, he's young, aggressive and smart. He has all the funding he needs to do even more."
Christie said the key to ensuring the resort's success now lies in the marketing strategies led by the Ministry of Tourism and the resort.
The resort's owner, Sidney Torres IV, confirmed to Guardian Business that work began on the development in March, just one month after the contract was signed.
To date, Torres said that more than $3 million has been invested in the project. Approximately 150 Bahamians have found employment in construction.
In addition to its 50 guest rooms and suites, 33 two-bedroom home sites are expected to be built. At the soft opening in November, three of these homes should be completed, along with the 50-room resort.
"We have already broken ground and we are about $3 million into it. We are employing about 150 Bahamians through all different settlements, and not just Gregory Town. When the hotel is open, there will be food and beverage, housekeeping and other positions available. This is a project that is going to go on for a few years," he explained.
"We will have 50 new cottages upon opening. We will also be building 33 home sites. Three of them have already started and will be completed in November. We are very excited about this project because I have a lot of history on the island. I was introduced to the island through Lenny Kravitz."
The 26-new garden and beachfront guest suites will complement the existing 24 rooms.
Renovations include an Infinity pool and full-service Bahamian restaurant. The sunset bar located on the point of The Cove will overlook the water, and a cocktail bar will include a fire-pit and lounge area.
A new Bahama Bean coffee shop will also feature on-site, freshly roasted coffee, lattes and cappuccinos. A fitness and business will be added.
Torres, a New Orleans entrepreneur and French Quarter hotelier, has been in the hotel business since 1996. He pointed out that he loves Eleuthera because of its similarities in cultures to his hometown, New Orleans.
"Eleuthera is a magical island and our goal is to bring the same legendary hospitality, food and décor of the New Orleans French Quarter to the Bahamas. We're very excited to welcome guests back to the breathtaking secluded, pink sand beaches of The Cove at Eleuthera."
Financing for the 33 homes is also available through Torres's IV Capital Investments.

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