NASSAU, BAHAMAS — The developer behind the proposal to convert the old Scotiabank building on Paradise Island into Wendy's and Marco's Pizza restaurant has voiced strong objection to what they have described as an "orchestrated and baseless" campaign against their site plan approval application, arguing further that there was no merit to their opponent's request for a traffic impact study.

Psomi Holdings, the corporate vehicle behind the proposed development, in an October 23 letter to the Town Planning Committee, expressed strong opposition to the request by The Paradise Island Development Association (PITDA) for a Traffic Impact Study or any studies that could delay the consideration of its site plan approval application. 

"We regard the request for further study as lacking in merit, as, in our respectful submission, the TPC has all the information that is reasonably required to consider this straightforward application. As the TPC is no doubt aware, the shopping plaza where the proposed renovations are slated to take place is an established commercial centre, that was designed long ago to provide shopping and other commercial amenities for vehicular and pedestrian traffic on Paradise Island," Psomi stated.

"The plaza and the commercial spaces located within it (which include the previous Scotiabank building) should be allowed to continue to function as the site of retail business and commerce on Paradise Island. It is respectfully submitted that it would be unfair to single out the Scotiabank site for special treatment and studies when retail business has been operated from those premises for decades and the upgrades to the property to accommodate Wendy's and Marco's will not materially alter the character or commercial use of the site."

According to the developer, the retail shopping plaza has been the existing site for commercial activity on Paradise Island for decades. 

"This is in stark contrast to the Sawyers Food Store and the Sterling Global businesses that have been recently introduced to Paradise Island.  There is no justification for the clamor that Atlantis and the other Paradise Island entities are making with regard to the Psomi application, especially when it is noted that Atlantis and its oversized businesses are the ones that have changed the character of Paradise Island and created much of the congestion. It is totally unfair for Atlantis to try to prevent other Bahamian businesses of a much smaller scale from operating, and they should not be allowed to do so."

The developers are proposing an urban walk-up grab-and-go offering.  

"Paradise Island continues to grow and develop and we do not see why Wendy's and Marco's are being singled out by the persons objecting at the public meeting when the Sawyer's Fresh Market Supermarket that will supply all the PI guests and residents of Paradise Island with their grocery needs is being allowed to move forward and two new restaurants being built in the same development – one of which is Carnivale, a 15,000 square foot restaurant scheduled to open in Spring 2024 with seating for over 350 persons, and the plan to host large parties," the developer noted.

"If Town Planning was to do the math based on the existing conventional required parking guidelines, this entire project would fail miserably. The second restaurant is also underway, and this is in addition to the existing retail shops, office, and residential spaces being occupied in the surrounding buildings in the same complex. Such as 700 Wines & Spirits a pharmacy, the marina office, etc."

It further argued that its proposal is a significant upgrade to the previous Scotiabank operation with the creation of a more organized parking site.

"We have security that will control any potential overflows in the area for our restaurant. We have a reliable employee bus service that will drop off and pick up our staff from this restaurant for their return trip back to New Providence, logistically having done so for the past 10 years at LPIA we do not anticipate this as being a problem.  n average, we do not anticipate that more than two to three restaurant employees will use parking spaces. We are happy to provide them with paid parking across the street if necessary. It is grossly unfair to associate pre-existing issues with Paradise Island parking with what we have proposed. 

The developer has also argued that there should be free and fair commercial access to the entire Bahamas, for Bahamian businesses not just selected parts.

"In the surrounding commercial adjacent area, there are web shops, local eateries, and other fast food like Dunkin Donuts. As trusted and proven Bahamian operators, we should be afforded the same opportunity to invest and expand in the way that Sterling Financial Group and Atlantis have been allowed to, and not be dictated to by a foreign private equity bondholder that is here today and gone tomorrow," the developer insisted, while claiming that their proposal would create 120 full-time jobs in addition to the 75 construction jobs.

"Paradise Island should cater to all residents, tourists, and workers, not just the elite rich and wealthy, and affordable food should be available to all.  To us, the fundamental objection raised by the opposition is about blocking free and fair competition from Paradise Island, which in our opinion, is a discriminatory business practice that should not be tolerated in our country."

Click here to read more on the Eye Witness News website