Villa Marina Del Mar is the newest real estate project by Kinetic Capital Ltd. executives Steve Milligan and Anne Meunier, who have spent $4 million to renovate a gated six-unit rental property on Midshipman Road near West Beach Road in Lucaya.

"We came upon this property, which was owned by Dr. George, who was retiring. As soon as we saw it, we saw the potential and made an offer," Milligan said.

"What we decided to do was make a change in Freeport's short-term rental market. With the projects and developments coming on stream in the future, we saw that this product was not available and we said let's do it."

The remodeled luxury short-term rental villas, named for popular Family Islands of The Bahamas - Andros, Abaco, Bimini, Grand Bahama, Eleuthera and Exuma -- feature island-themed décor and overlook the Bell Channel Canal.

The original town house-style complex was thoroughly redesigned and construction began in July 2022.

"We gutted the property ... took out the electrical, plumbing, drywall, windows and doors," Milligan said. "It was a shell when we were finished; however, it had good bone, good structure.

"We put in new windows, and we wanted to make it environmentally safe. So, we put in impact windows and doors all through the place; changed all the flooring, lighting, electrical, everything.

"Basically, we started fresh and this is the end result."

The villas are now two five-bedroom units with five and a half baths and three three-bedroom units with three and a half baths.

Milligan said work continues on the final unit which is a specialized design.

"We do have one unit to complete, which is handicap-friendly," he said. "That unit will have all of its fixtures and furniture accessible for a disabled guest. There is also a suite for a caretaker in that unit as well."

In addition to enhanced villas, Milligan said the marina was expanded and now has 10 slips.

"The dock is fully serviced with electricity and water, so a center console vessel with five or more people can have a comfortable place to stay," he said.

He said Villa Marina Del Mar is ideal for summer vacationers, and investors who want to travel and bring their families along.

Milligan believes there is more room to expand the island's rental inventory.

"I think there is unrealized potential here. We need to get out there, and we need more product ... We need more rooms. We need more flights. Obviously, the airport is a bit of an issue right now, so we need the government to work rather quickly and efficiently to get this going," he said.

"There are people here, they need jobs and they need money."

He commended the contractors and laborers — headed by Clarence Carter — who worked on the project.

"One thing I'd like to mention is the quality of the people, local Bahamians, [who] have worked on this project," he said.

"People said, you'll never get anything done in The Bahamas. Well, we got something done. Clarence Carter, the lead on our project, very hands-on, and this is the finished work."

Milligan said they are working on two other projects at Discovery Bay and Watergate that will be coming soon.

Villa Marina Del Mar was introduced to the Grand Bahama market last week with two open-house events — one catering to the business sector and the other to real estate agents.

Carmel Churchill, of DonCar Hospitality Management Services, said this type of rental property has not been seen on Grand Bahama for a while.

"It is at the luxury end of the market and the accommodations cater to small groups and families and the space gives each occupant their own suite," Churchill said.

She said with the expanded marina slips, which guests with vessels up to 100 feet can utilize, the villa definitely enters the luxury boating marina market for Grand Bahama.

"This inventory primarily caters to short-term rentals, but there were questions about long-term stays. So, while we realize there is a lapse, there is also an opportunity for growth in that area," Churchill said.

"Overall for Grand Bahama as a destination, it is quite positive. If there is anyone considering investing in the island at this time, this is the time for it."

Realtor James Sarles of James Sarles Realty said he was impressed with the island's newest development.

"This is great news for the island as it was very needed and we look forward to all of the projects coming within the next few years," Sarles said.

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