Developers of the South Seas subdivision have added $1 million to its bank account after generating eight sales during its recent open house.
South Seas lead developer Tennyson Wells told Guardian Business that sales are beginning to pick up as the first phase nears completion.
Wells noted that there is already one family currently residing in that development.
"Phase I is nearly complete and the roads have been paved. We have approximately seven houses under construction and there is one family living in the subdivision," according to Wells.
In addition to an economic downturn, he said that the $12 million development also came under fire for beginning to dredge a canal near one of the Bahamas National Trust's (BNT) national parks.
However, he explained that the issue has now been resolved.
"Our issue with the Bahamas National Trust has been resolved. It has been
resolved for more than a year now. Right, we are friendly and they are pleased with what we are doing," Wells said.
He added: "We had started to cut the canal but because of the economic downturn, we stopped that. I am not sure when it start it again, but hopefully we will be able to do so once the economy has turned around."
Meantime, the $10 million Yuma Estates should be completed by the end of March.
Wells pointed out to Guardian Business there are just over 20 lots available in the 115-lot subdivision.
He revealed that 10 families are currently living in that development.
"We have quite a number of people building in there now. There are another six to eight houses under construction," Wells said.
Now, Wells said only the amenities need to be complete.
"We are hoping to get the coating for the tennis and basketball courts. They have been paid for, so it should be here by next week," he shared.
"I promised that it would have been completed four or five months ago but we had difficulty in getting the coating for it but we have that. Certainly by the end of March, it would have been completed."
Yuma Estates is a private gated community with 25 acres of land and 115 lots.
This private community offers amenities that include a recreational park with tennis courts, retention pond, jogging trail, basketball court, gazebos, grills, a playground, 24-hour security surveillance, a motorized gate and video recording for security purposes.
Single family lots range in price from $97,500 (6,535 square feet) to $137,500 (9,119 square feet).
Multi-family lot prices start at $132,500 to $199,827.
Yuma Estates is located in Tusculum, which is 1,600 feet east of Tropical Gardens Road and just over 1,000 feet south of West Bay Street waterfront.

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