Search results for : Nassau Bahamas marina

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News Article

March 21, 2012
Record Sales, Crowds, at Palm Cay Marina Open House

NASSAU, Bahamas - A
record five properties were sold at the Palm Cay Marina Open House on
Saturday. The one day event featured five new, promotionally-priced
Garden Town Homes at $499,000 dollars each, and a free $80,000 boat slip
for those that purchased on the day.

The event was heavily
attended with over 400 people arriving steadily throughout the day and
four of the specially-priced town homes selling within hours of the
gates opening.

Richard Browning Palm Cay Marina CEO said the
successful indicated to him that investing in a lifestyle was an
important ingredient in home buying for Bahamians...

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News Article

October 21, 2014
CIBC FirstCaribbean hosts fun walk to raise funds for cancer treatment and prevention

The most moving part of CIBC FirstCaribbean's third annual Walk for the Cure support initiative was the release of balloons that brought participants to their feet in a moment of silence and contemplation at the Goodman's Bay Corporate Centre. They also heard from Jason Knowles who spoke to walkers about his daughter, Zion's, fight with cancer.
CIBC Managing Director Marie Rodland-Allen said she was proud to support the initiatives of local charities.
"For us raising funds is not just a community initiative; it is an imperative representing a fierce commitment that spans across our entire business," said Allen. "This is the third year for the hosting of this event and we are pleased to have more than quadrupled our fundraising numbers in 2014 to over $170,000 across the region," she said.
Allen said the Bahamian bank had collectively raised $31,454 in both funds and corporate sponsorship.
"To our corporate sponsors, we express sincere thanks for joining us in our efforts to build awareness of cancer which ultimately affects all of us," said Allen. "We are therefore humbled to have played our part in ensuring that persons battling this disease receive the necessary support to help them in their valiant fight."
Platinum sponsor, Sandals Bahamas Resort, was an early responder to CIBC FirstCaribbean's call for corporate sponsors; Sandals participated with 56 staff. General Manager Patrick Drake said partnering with Walk for the Cure was an easy decision and was in line with the resort's own cancer awareness month activities.
"Sandals, through our foundation, has always been looking to make a difference," said Drake. "We've worked with the St. Jude Foundation in the past and we currently have the staff in pink every Friday to promote awareness. If each one can help one that is what it is all about."
Walk for the Cure is a regional event with local iterations in each of CIBC FirstCaribbean's 17 locations throughout the Caribbean. The funds raised from the New Providence walk that had 348 participants will be presented to Sister to Sister Breast Cancer Support Group, The Bahamas Breast Cancer Initiative Foundation and cancer societies in Abaco, Eleuthera, Grand Bahama and New Providence.
Other event sponsors included Restaurants Bahamas Ltd. (KFC), Baha Mar, Atlantis, Colina, MPLaw Chambers, John Bull. Elite Security Agency, Family Medicine Center, Valentine's Residences Resort and Marina, Gippy's Printing and TriPoint Communications.

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News Article

April 11, 2012
French Leave approved for 12M project

A major international hotel operator has gained approval to construct phase one and two of French Leave Resort on Eleuthera.
The long-awaited nod opens the flood gates on at least $12 million worth of investment on seven-and-a-half acres of elevated land overlooking historic Governor's Harbour.
Shaner Bahamas, a company founded by Lance T. Shaner, will enter into a partnership with Governor's Harbour Resort & Marina to build and finance the resort property. Shaner Bahamas is an off-shoot of the Shaner Hotel Group, a corporation with more than 34 owned or managed properties and thousands of employees.
"Shaner Bahamas is an entity specifically created for
development in The Bahamas," said Eddie Lauth, an investor and partner in Governor's Harbour Resort & Marina and the CEO of Shaner Capital. "They are very interested in this country. We now have approval for development, so we are finalizing the contractors and getting started."
Located just off Queen's Highway, French Leave Resort could indeed mark a resurgence for the hospitality industry in central Eleuthera and serve as an important driver for the economy.
Phase one, Lauth said, includes the construction of 21 hotel cottages, a bar and grill restaurant, and a pool and pavilion clubhouse facility. He told Guardian Business the developer is also committing to phase two "straight away" by commencing underground utilities.
Phase two will see the construction of 17 more cottages, bringing the total number of accommodations to 38.
Groundbreaking should happen as early as next month.
"The marina village site will feature two restored docks and will be able to accommodate only a select few, large luxury yachts," he explained. "The authentic Bahamian hotel cottages are single and detached with covered porches, cedar roofs, block construction and each will have a battery back-up system for 100 percent clean electricity. The inspiration for us is the scale and the wonderful architecture found today at Governor's Harbor with the antique churches and homes."
The announcement has been a long time coming for developers.
Lauth said stakeholders had to "sit tight" for a few years due to a defective title issue. He hopes the first cottages can now open for the 2013 season.
Formerly the site of Club Med, the property was purchased in 2004, with further land acquired from the Frank Lloyd Trust. The developers now hold an impressive 270 acres of prime land in Eleuthera, all of which could transform in the coming years.
Lauth told Guardian Business the ultimate goal would be a resort "with 100 keys".
The 5-star, sustainable, boutique concept has been partly inspired by Orjan Lindroth, the developer behind Schooner Bay in Abaco, Lauth told Guardian Business.
Schooner is in the midst of an aggressive expansion, with an estimated $30 million being spent on infrastructure, amenities and homes this year alone.
Lauth said the 270 acres of land was purchased in Eleuthera partly because stakeholders are concerned with maintaining a consistency of vision, feel and architecture.
Phase one and two of the resort, representing $12 million in investment, will be spearheaded by three or four Bahamian contractors. Lauth said the company is in the process of signing these contracts. Construction should create dozens of jobs, not to mention the long-term employment prospects for Bahamians working on the property.
"There will initially be three or four contractors. We are blessed with high quality contractors on the island and we're very pleased with their work. Right now we're hoping to have everything wrapped up in the next 30 days and break ground after that."
This venture is the first hotel development in the Caribbean by the Shaner Hotel Group.
Hotel brands owned or managed by the company include Marriott, Holiday Inn, Crown Plaza and Renaissance.

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News Article

December 20, 2013
Overwater structures: Mitigating environmental concerns

Last week Wednesday, Leaf Cay was the first resort to receive approval in principal by the government to develop overwater bungalows. Instrumental to this approval in principle was a report - "A Review of Overwater Bungalows: Environmental Considerations Specific to The Bahamas" - by Keith Bishop of Islands By Design and Melissa Alexiou, now of Waypoint Consulting.
According to the report, "An overwater bungalow mimics in most respects a standard dock structure with known environmental considerations that can be managed under the guidelines of an environmental management plan."
Such environmental considerations were noted as habitat degradation due to alteration of light conditions from shading, and turbidity generated from suspended sediment during construction.
By highlighting similarities with docks and marina structures, the report identifies issues presently known to marina operators and coastal resource managers.
The report added: "Thus, the impacts to vegetation, the physical environment, and management of utilities, with the exception of sewerage are familiar to Bahamian coastal resource managers. Though even here marina operators must contend with direct pump out of waste from individual vessels, a problem identified in Elizabeth Harbour, Great Exuma where a direct discharge of sewerage is now prohibited."
In terms of waste management, most notably sewerage, the innovative use of shipboard technology to contain and handle the generated waste is recommended.
Aware of the pristine environment that these units will occupy, all waste water will be collected and handled through a macerator and evacuated either by gravity or by low pressure and discharge into a land-based Bio Digester treating waste water anaerobically, thus ensuring no raw water release to the environment.
Moreover, the document notes that overwater bungalows are not always appropriate given the location.
"At the very least, the Bahamian government must recognize that the proposed location for any overwater structure, dock or bungalow on any given island of The Bahamas depends on the local physical and environmental parameters," according to the report.
Recent comments from Eric Carey, executive director of the Bahamas National Trust, urging the government to develop an overwater bungalow policy align with the recommendation for National Overwater Bungalow Guidelines that would "proactively deter development proposals that would result in environmental degradation".
According to Alexiou, the document represents an alternative approach to assessing new tourism products or innovative development proposals not yet available in The Bahamas.
"The report underlines the need for more applied science in the decision-making process," she said.
"The Bahamas has incredible natural resources, but it has to be amenable to innovative products. This report served to facilitate understanding of the environmental considerations specific to overwater bungalows."

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News Article

March 27, 2012
MICAL MP: Old Mayaguana land deal better than amended version

Defending the original Mayaguana deal that the Christie administration made with an American development company in 2006, MICAL MP V. Alfred Gray said yesterday that negotiated contract was "infinitely better" for the island than the amended agreement tabled in the House of Assembly.
The current government recently amended the original deal and has harshly criticized the Christie administration for that 2006 agreement, calling it "the great land give-away".
But Gray said that nothing could be further from the truth.
He was speaking in the House of Assembly during debate on the amended and restated heads of agreement with the I-Group.
"There has never been up to this moment any transfer of land as a grant to the Mayaguana Development Company," Gray said. "There was a 50/50 joint venture between the Hotel Corporation and the Mayaguana Development Company.
"[The I-Group] was to put in the money and the Bahamian government was to put in the land to make this development possible. There was never a transfer of land to any foreign interest group."
The development was initially approved under the Christie administration as a joint venture between the government and the Boston-based I-Group.
The deal also involved the transfer 9,999 acres of crown land. Under that agreement, both parties owned the project through the Mayaguana Development Company. However, under the new deal the joint venture arrangement has been canceled. Additionally, the government will get back 5,825 acres of land.
"The truth is it is unquestionably so that the government led by Perry Christie was meticulously careful over a two-year negotiating period to be sure that whatever was signed was agreed to by the Mayaguana people, the Hotel Corporation and the I-Group," Gray said.
He claimed that under the amended agreement more land is given to the I-Group than was given under the first agreement.
"They are going to end up getting 5,000 acres of land with nothing back to the Bahamian people. In other words, what [the government is] saying is, 'I'll take back 5,000 acres in the joint agreement and give you 5,000 and you could go'," Gray said.
"Now what is more important, when you have 10,000 acres with the Bahamian government or 5,000 acres [solely for the I-Group]?"
Within the next 18 months, the I-Group is expected to complete the first phase of the development, which includes the resurfacing of the island's airstrip, upgrading of the airport terminal building, and construction of a 25 unit upscale boutique resort at North Beach.
The deal also calls for the construction of a boutique lodge, a marina, residential lots, among other amenities.
Gray said the I-Group project was intended to start the development process for the south-eastern Bahamas.

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News Article

September 04, 2012
'King' Eric Gibson to Captain New Boat in Upcoming Grand Bahama Regatta

NASSAU, Bahamas -
'King' Eric Gibson has secured corporate sponsorship for a new 'A' Class
boat for the upcoming Grand Bahama Regatta at Taino Beach.   The 'Palm
Cay Princess' will set sail and compete in her first race at the Grand
Bahama Regatta September 27th - 30th.

Richard
Browning CEO of Palm Cay, the residential Marina development on
Yamacraw Road, has said that he supports The Bahamas' island regattas
and ocean sporting events.  Earlier this year, Palm Cay sponsored and
introduced the Palm Cay Sir Durward Knowles Cup; the only one to bear
Sir Durward's name, it is a regatta circuit floating trophy which made
its first appearance at the February St. Valentine's...

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Event
Cattlemen's Smokin' Hot BBQ Competition
Cattlemen's Smokin' Hot BBQ Competition

Saturday 20th April 2013  12:00 PM

All you need is a BBQ Grill! register your team today! Free BBQ Sampling all Day long! Live Music! Cattlemen's Smokin' Hot BBQ Competition Caribbean BBQ Circuit Only the best BBQ, BBQ'ers and grillers in Bahamas! competition is open to everyone you don't have to be a chef to participate April 20th, 2013 East Bay Marina behind the Green Parrot, Nassau Over $2,000 in Cash and Prizes! Registration includes ribs, beef, pork, chicken, goody bag and more. info:305-735-8333 www.bbqpr.com or email mike@bbqpr.com


News Article

March 26, 2012
Palm Cay now 'player in game'

Palm Cay has banked more than $2 million in sales since its wildly successful open house-and more sales could be on the way.After hundreds of people circulated through the new development in eastern New Providence, four buyers signed on the dotted line, securing townhouses valued at $499,000. A fifth investor purchased a lot for $212,000, bringing the total proceeds from the day to around $2.2 million.

Richard Browning, the CEO of Palm Cay, said the event on March 17 has dramatically changed the project's visibility and prospects for the future.

"We've since had the possibility of another three sales,"he added."This was our first exposure. We have improved our branding and our visibility. We have carried on with construction, sold a few properties and reorganized ourselves. Now we are a player in the game."

Calling the open house"unprecedented and unpredicted", more than 400 people crowded the model home that day.

To sweeten the deal, Palm Cay threw in a slip worth an estimated $80,000 for anyone purchased a property that day. Browning toldGuardian Businessthe rationale behind the deal was to "say we have something special". He felt the slips demonstrate the lifestyle Palm Cay offers to investors and residents.

The development is now in the process of pouring $20 million into construction this year, as reported byGuardian Businessback in January. That figure is on top of the $40 million already spent.

This string of sales brings total sales at Palm Cay to six ocean front homes and 10 townhouses, with six residents already living on site.

Browning said Palm Cay is in final development of 60 beachfront lots.

"We're ploughing on," he reported.

"The ocean front block will be done by June, with the backlot being done in the middle of this year, perhaps August. We're looking to release further product towards the end of this year as well, such as small cottages."

However, the CEO pointed out that further work will be fueled by the interests of would-be investors. Management plans to gain as much feedback as possible from the 400-strong crowd that packed Palm Cay recently, with 280 of these individuals filling out "forms of interest".

"We want to make sure it's the product people want," he said.

Browning told Guardian Business that this recent success should be emulated by other developers on the island, in the sense that positive thinking and"broadcasting "the product does wonders for injecting confidence in the market.

Insisting that he doesn't have "competitors", the Palm Cay chief insisted there is still money out there for quality investors in property.

"The Bahamas has to be something everyone believes in. We can't be alone in the wilderness. We should all be shouting it," he explained. "We just need to create an excitement and pride in what we are doing."

The community currently employs 30 Bahamians, although he anticipates up to 200 jobs may be up for grabs in the coming years.

Palm Cay has a marina at its centerpiece, and a supermarket, tackle shop, clubhouse restaurant, children's playground and tennis courts will be completed by the end of this year.

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News Article

July 19, 2012
Defending the FNM's record

In his typical bombastic and inelegant style, the chairman of the Progressive Liberal Party (PLP) in a letter to the editor of The Nassau Guardian of July 3 responded to legitimate criticism from the leader of the Free National Movement (FNM) of the PLP's denial of the severity of the global recession by charging that the FNM administration made it worse.
This deceit was part of the PLP's propaganda when in opposition. Another part of that deceit was the outrageous claim of the billions of dollars of "notional" projects which they had lined up for inward investment prior to their defeat in 2007 and which they claimed the FNM's 'stop, review and cancel' policy had prevented from progressing.
The continued reference to billion-dollar projects that suffered from the alleged 'stop, review and cancel' policy must be a reference to the PLP planned massive land giveaways (as was contemplated at Mayaguana) to various prospectors who had not even secured the funding for some hugely exaggerated projects on which they could not possibly deliver even with the sale of Bahamian land.
But this was the propaganda engaged in at the time and presumably being resurrected by the chairman of the PLP now. The PLP seemed to subscribe to a policy of announcing huge investment deals, highlighting exorbitant sums which they hope will be invested and large numbers of new jobs they hope will result, but not making the terms of the agreements public so that if or when they did not materialize the government's embarrassments might be minimized.
The Free National Movement (FNM) does not go that way; that is why before the end of 2007 the FNM government tabled heads of agreement concluded by the PLP but never tabled in the House of Assembly as follows:
Project/co. name

Date heads of agreement signed
1. Governor's Harbour Resort & Marina

March 23, 2004
2. Rav Bahamas (Bimini Bay)

June 9, 2004
3. Kerzner International
(Supplement to heads)

December 7, 2004
4. Pittstown Landing

April 27, 2005
5. Cape Eleuthera Properties &
Powell Point Properties Ltd.

May 3, 2005
6. Baha Mar Development

April 6, 2005
(Cable Beach)
7. GINN-LA West End

Dec 9, 2005
(Amendment to heads of agreement)

June 8, 2006
8. EGI Ltd.

April 24, 2006
9. Sky Beach Development
(Eleuthera)

April 20, 06
10. RC Rose Island Hotel Co.

February 13, 2006
(Amendment to heads of agreement)

April 12, 2007
11. Crystal Mount (Cat Island)

January 16, 2006
12. Royal Island (off N. Eleuthera)

December 14, 2006
13. Park Ridge Securities (Albany)

November 9, 2006
March 6, 2007 (Amendment)
14. Lignum Vitae Cay Ltd.

April 27, 2007
15. Bonds Cay (Berries)

May 1, 2007
None of these projects were stopped or reviewed by the new FNM government. Instead everything was done to facilitate them moving forward in a timely fashion. The worst global economic crisis since the Great Depression intervened and stopped virtually all of these projects. Those which proceeded - Albany, Baha Mar, Rav Bahamas - did so because of extraordinary efforts by the FNM.
Such efforts and support to others of the projects - notably GINN, Exuma Resorts Developers-Setai/Aman, RC Rose Island and the Harcourt Group in Grand Bahama - could not overcome the fallout for these projects from the recession and very directly the failure of important international financial groups like Lehman Brothers.
The record also shows that by February 2008 the FNM government had concluded and tabled in the House of Assembly three major agreements which had stalled under the first Christie government: those relating to the doubling in the size of the Baha Mar project inclusive of seeking and obtaining parliamentary approval to transfer a portion of the public road (now deviated West Bay Street) and other government-owned land to Baha Mar; the conclusion with the Park Ridge Securities relating to the Albany project and including parliamentary approval for the transfer of portions of south west Bay Street and of portions of South Ocean Boulevard in exchange for a new south west Bay Street now named Frank Watson Boulevard, and the conclusion of a superseding heads of agreement with the Exuma Resorts Developers for the development of a Setai/Aman Resort at Norman's Cay.
Bradley Roberts continues the PLP distortion that the FNM chose to award the New Providence Road and Utility Improvement Project to an international (Argentinian) company excluding presumably able Bahamian companies. He ignores the fact that the bid for this project was put to international tender (as required by the Inter-American Development Bank) by the PLP government. Under that government no reputable international company responded to the bid. The FNM's return to government brought a response from international companies and following a competitive analysis, Jose Cartellone Construcciones Civiles (JCCC) was awarded the contract.
Roberts also conveniently fails to acknowledge that every Bahamian road paving company was engaged by the FNM government between 2007 and 2012 on other important and significant road and utility upgrade projects - many of which are now ongoing in New Providence (deviated West Bay Street and the connector road to JFK Drive; Bay Street from Nassau Street to Mackey Street, intersection improvements along East Bay Street to the Montagu fishing ramp; Moss Road extension and access roads to the new sports center and all Family Island road projects).
Roberts also seeks to ignore that in each of the five budgets presented to Parliament during the FNM's last administration - 2007/08, 2008/09, 2009/2010, 2010/2011 and 2011/2012 - there was a consistent reduction in customs duties and the elimination of duties on a number of products to ease the cost of living on the community, to improve the competitiveness of the tourism product or to provide specific incentives. This happened in each of the five budgets. It is worthy of recalling that the systematic reduction of customs duty rates and the reduction of the number of rates are policies introduced by the first FNM government between 1992 and 1997.
It is acknowledged that in the 2010/2011 budget, in addition to continuing the reduction in customs duties on selective products to ease the cost of living broadly, provision was made for increases in several taxes to ease the financial strain that was having an unfortunate impact on the country's fiscal circumstances. Roberts' claim that the policy was a failure is untrue. The policy produced an increase in revenue over the previous year of $160 million and led directly to a lower deficit.
It is never clear from these critics of that fiscal policy whether they are promoting lower spending or higher deficits. Balancing the trade-off between debt and unemployment in that global recession was probably an issue of such delicacy that it did not likely catch the chairman's fancy.
Roberts has also not been able to make the distinction between debt and spending that creates infrastructure - fixed assets for the country and debt for which no remaining evidence can be found. This is why he has been able to say such critical things about the increase in debt during a devastating global recession in which the opportunity was taken by the FNM to deficit-finance the construction of infrastructure to facilitate the economy's future growth while also easing the strain of unemployment. On the other hand he overlooks, and hopes that the public will not notice, the shame of the huge creation of debt during a period of economic growth with nothing to show for the spending during the period presided over by PLP from mid-2002 to mid-2007. He might consider this is why his party while commanding a majority of seats in the House of Assembly, does not command the support of the majority of registered Bahamian voters.
Roberts and the PLP already are getting a sense of the challenge of economic management in a period of economic adversity. Already they have demonstrated that their understanding of job creation is restricted to finding jobs for their members and supporters even if they can only achieve this by firing Bahamians they met working.
It is also to be noted that notwithstanding that economic circumstances have already begun to improve and the recession has ended, they began their term with the largest deficit in the country's history. No doubt they will seek to blame the previous administration for the size of their deficit, but they understand that they are in charge now, as they are quick to point out, and the choice was theirs to make.
Finally, Roberts objects to the FNM reminding that the PLP has failed to keep its promise and pledge to be ready to govern on day one. He seeks to excuse the failure of the PLP to name new boards including naming new chairmen for the most important public corporations where FNM political appointees resigned their posts at the Bahamas Electricity Corporation (BEC), the Water and Sewerage Corporation (WSC) and the Broadcasting Corporation of The Bahamas (ZNS) by comparing the PLP record to that of the FNM. The FNM welcomes such comparisons as the superiority of FNM performance in every segment of government can be readily seen. We have a record and we are proud to stand by it.
Roberts will have considerable opportunity to engage in vitriolic bluster in response to legitimate criticism of the PLP's governance and propaganda, particularly since so much of their governance seems to be conducted by public broadcast by way of the usurpation of ZNS news.

o Charles Maynard is the chairman of the Free National Movement.

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News Article

January 17, 2014
Palm Cay lights up Times Square

Palm Cay has launched a major new promotion, reaching out to the 1.5 million visitors daily who come to New York City's Times Square via an advertisement that will appear on a huge screen in the world famous site for over a month.
As New Year's Eve revelers pulled scarves and loved ones closer to battle the bitter cold, the sight of townhomes and palm trees on a stretch of white sandy beach with a view of the clear blue sky and turquoise sea sparked dreams of paradise.
The unexpected appearance of the award-winning community with two short words on the screen, Palm Cay, and the website, Palmcay.com, was part of an ongoing ad campaign that between December 27, 2013 and February 1, 2014 will be viewed by tens of millions of people.
For Palm Cay, which was recently awarded the first ever Developer of the Year Award by the Bahamian Contractors Association, the exposure was the highlight of an ongoing drive to draw attention to its $200 million fully-funded family-oriented active community with a wide array of residential options, a 194-slip marina and more.
And for The Bahamas, it represents free exposure. Minister of State for Investments Khaalis Rolle said the sight of Palm Cay on the huge screen in Times Square was a welcome surprise.
"Someone who was in New York told me about it and when I looked online and found it was true, it was great," said Rolle. "You can't pay for that kind of coverage. On behalf of the government I would like to congratulate and to thank Palm Cay for what they represent as a community, and for what they have done to place The Bahamas in such a prominent position and high profile, especially at this time of year when what weather experts are calling an 'Arctic hurricane' is freezing much of the U.S. and the sun is shining on our shores."
According to Palm Cay Sales & Marketing Director Zack Bonczek, the marketing team was able to capitalize on a long-established relationship with the firm that arranged for the extraordinary coverage.
"We are appreciative of Horizon's selection of Palm Cay as a client it wanted to reward because as Minister Rolle said, 'you can't pay for this kind of coverage'. We are thrilled with the response and proud that Palm Cay was able to draw such attention to The Bahamas."
Bonczek said it was too early to tell whether the exposure was driving business, but admitted it had been a very encouraging year for the nearly 70-acre development on the southeastern shore of New Providence.
"2014 looks like a very promising year and you can't ask for a better start than a billion people viewing Palm Cay on New Year's Eve and another 1.5 million people seeing it 168 times a day for 37 days. That's just about 1.5 billion people who caught a glimpse of the beauty of The Bahamas," he said.

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