The government has given approval in principle for the development of a $50 million Exuma resort, which will introduce a "new niche" - the first "over-water-bungalows" in The Bahamas - and create over 100 jobs, according to its developer.
So long as a few remaining conditions are met, Leaf Cay, a private 13.1-acre island located in the Exuma island chain, will be turned into a commercial resort where 16 over-water-bungalows, seven private villas, eight two-unit townhome villas and five "tree top bungalows" will be available to guests, along with a 30-slip marina and fuel dock, a restaurant and bar, an infinity pool, tennis courts and an over-water spa.
The plan is to sell the villas but enter them back into a rental pool.
The project is being developed by Roger Cardinale, president of the International Division for CEC Entertainment, which develops, operates and franchises the Chuck E. Cheese's family entertainment center brand, in conjunction with business partner, owner of Time Ventures, a yacht charter company that tours the Exumas, Peter Vazquez, along with his wife Kim.
Guardian Business has been informed that Vazquez received a letter granting approval in principle for the project from the government this week, 19 months after making their original application submission to the government.
"It's very exciting and we are really thrilled that after 19 long months, it's here. Unless I am mistaken, I think we would be the first project for approval for over-water bungalows in writing in The Bahamas. "We will create a special new niche in the tourism market never seen before in The Bahamas or this part of the world.
"People from North America will no longer have to do 14-hour flights and countless plane changes to get to over-water resorts. I believe there's been a few popping up in the Caribbean, but they are more eco-type. We would be the first resort of this kind to be tied into a private island with the type of amenities we have."
According to the developer, the project has been approved based on a number of conditions, requiring Vazquez to meet certain requirements laid out by the Bahamas Environment Science and Technology (BEST) Commission, among others.
And the government required that the developer scale down the project from initial plans from 30 over-water bungalows, 10 tree top bungalows, 10 two units condo units and 11 villas.
"We've already submitted the EIA for the basic stuff on the island itself and a special EIA we did for the bungalows; that's all been submitted to BEST, now they are asking for some very detailed reports, like a 20-, 50- and 100-year storm surge analysis," said Vasquez.
In an earlier interview with Guardian Business, in which he lamented delays and non-information in the approval process, Vazquez said that the government would be setting itself up for a surge in tourism of a kind never before seen if it approved the over-water bungalows.
Speaking with Guardian Business yesterday, Vazquez said that once final approval is received, work could be completed on the resort within two years.
Meanwhile, he said he and his partner have been speaking with companies who are showing "strong interest" in branding the resort.
"We're in negotiations with a few," he said.
The project has been engineered by Arzall Engineered Timber Solutions, the company which designed and engineered the top-rated Four Seasons Bora Bora resort.
Vazquez said he was extremely thankful that the wait to find out if the resort would be approved has now come to an end, adding that he felt the prime minister and Minister of State for Investments Khaalis Rolle had ultimately "shared our vision" for how the resort could begin to transform the Bahamian tourism product.

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