A well-known realtor and advocate for commerce in the Cable Beach area says the $40 million Towers Shopping Centre will have a "strong demand" due to its proximity to Baha Mar.
Mario Carey, the president of Mario Carey Realty, said the retail village should be just one step in the commercial development around the $3.5 billion mega resort.
The top realtor is a strong advocate for a rezoning of Cable Beach along West Bay Street. Long stretches of the area, he explained, are still off-limits to businesses. He said that The Towers will be successful, but more could be done to give Bahamians entrepreneurial opportunities.
"I think it will have a very strong demand. Its only challenge will be proximity. Maybe they will have a shuttle service," Carey said yesterday. "My zoning idea was on the main road, where the energy is more direct and closer."
As exclusively revealed by Guardian Business on Monday, The Towers Shopping Centre, completely separate from Baha Mar, will break ground in three months along Baha Mar Boulevard, stretching down towards John F. Kennedy Drive.
Charles Christie, chief developer and president of C.A. Christie Real Estate, said the first phase involves 64,000 square feet. He is also planning restaurants, a movie theater, a small supermarket and office space.
"It is being market driven," Carey added. "The demand for things will only increase out west. The new shopping center at Old Fort has been a success. And there is huge demand for office space."
The realtor told Guardian Business that the government needs to allow commercial activity all the way from Arawak Cay to the Caves development.
Looking at the capital as a whole he noted that nearly every major thoroughfare has evolved and includes commercial activity along the main strip. He said Cable Beach is undergoing a similar "transition and evolution" in terms of real estate growth.
At the moment, he said there is too much "inconsistency" in regards to residential and commercial zoning along West Bay Street. By rezoning, he believes a wide cross-section of Bahamians will truly see the benefit of Baha Mar.
"What is in the best interest of Bahamians?" he asked. "The idea is to create as any entrepreneurial opportunities as possible. That is the balance and history has shown it has happened on every major thoroughfare here. Right across from the prime minister's house you have a restaurant. Why is commerce in pocket areas?"
For Christie's part, The Towers is poised to indeed be a concentrated commercial force on the doorstep of Baha Mar.
The development is aiming for around 55 tenants, and while the exact employment opportunities are unknown, it should easily create dozens if not hundreds of jobs.
Christie views The Towers as similar to Marina Village on Paradise Island.

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