A leading realtor is calling for the rezoning of West Bay Street near Baha Mar to spur the creation of a "commercial stimulus zone" spanning up to four miles.
Mario Carey, the founder of Mario Carey Realty, said the concept has the potential to be the single biggest economic boost for businesses in a concentrated area. A commercial village would not only provide the thousands of tourists and workers with superior shopping and dining options, but also revitalize a stretch of Bay Street in desperate need of attention.
Carey told Guardian Business it is time to "begin the conversation" while the Cable Beach mega resort is still a few years away.
"I know how limited opportunities are along Bay Street for commercial businesses. People are always asking for it," he explained.
"How many thousands will be at that hotel? What are they going to do?"
The top realtor, whose firm is representing Baha Mar in its elite condo offerings, is also urging that investors in such a commercial zone should be given financial incentives, such as a temporary break from real property tax or duty-free exemptions on renovations.
The key, of course, will be the reactions of those in the immediate area. Carey said the presence of homes along Bay Street is an outdated concept, pointing to Carmichael Road and the area of Palmdale as examples of thriving commercial centers.
Gaining a commercial zoning license along Bay Street is incredibly difficult from a bureaucracy perspective, he said. The creation of a commercial stimulus zone would spark renewed interest and activity along Cable Beach.
Robert 'Sandy' Sands, senior vice president of administration and external relations, did not wish to comment on the endeavor at this stage.
"Currently, there is a mix of residential, commercial and recreational uses," Carey added. "So you have a large grocery store, for instance, between a new upscale strip shopping plaza on the east, and single family residences on the west. What exists is not based on planning. It just flew up that way. It has been piecemeal with each new proposed project fighting its own battle for development, rather than being planned with deliberate consideration and according to solid resort region planning principles."
The realtor noted that such a commercial village would be incorporated into the Bahamian Riviera and Baha Mar concept, with the gradual introduction of landscaping, lighting and CCTV security cameras.
Explaining that it's important to make Baha Mar accessible to average Bahamians, and create spin-off opportunities, he insisted that the government and other stakeholders have a responsibility to remove obstacles to Bahamian participation.
"What I am suggesting is a fundamental re-thinking about an area soon to explode with life and we have not addressed the immediate surroundings. Right now it is the largest single-phase construction project in the hemisphere," Carey said.
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