Nassau, Bahamas -- A project rising on the western end of Paradise Island is turning traditional real estate sales wisdom on its head -- building multi-million houses on spec during a challenging economy in a location no car can reach. Now, with early signs of success, there's every indication that the microcosm of a community for the very wealthy -- accessible only by private boat -- will create a new intelligence about how to appeal to those with discretionary income and fine taste -- wowing them not just with the expected luxuries and amenities but with an atypical setting so compelling it creates instant value and desire.

The project is called The Beach House Villas. On February 22, a few dozen hand-selected guests, arriving by boat, were invited to a sneak preview during an open house wine and dine event hosted by Mario Carey Realty. The brainchild of successful developers/entrepreneurs David Kosoy, Joe Brennan and Daniel Greenglass, The Beach House Villas is a five residence community on two and a half acres of the last secluded shore-to-shore land on Paradise Island.

When completed, each of its custom-designed two-storey homes will be turnkey -- its own private pool, fully furnished, lavishly landscaped and lit, 12' high ceilings on the first floor and spectacular views throughout, custom stone work finishes on exterior and interior architectural features. Homes range from $5.3 million to nearly $9 million, together a $40 million build-out. Set to complete in late 2013, The Beach House Villas is creating up to 60 full-time construction jobs, plus pool builders, landscapers and others who will be coming on as work continues. General contractor is local company Norstar Group with offices on Tonique Williams Darling Highway.

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