An architect tied to TFG Group says the effort to raise $10 million to construct an entertainment complex is progressing and they are optimistic regarding the viability of the project.

Marcus Laing, an architect at TDG Architects Limited and an investor with TFG Group, said moderate interest has been shown thus far regarding the proposed multi-million dollar complex in western New Providence - which would be called Encore. However, he added, gaining access to that amount of capital is not easy.

"We've gotten several commitments already. People have already signed up and paid already," he told Guardian Business.

 "There are certain milestones that we want to reach, but the dilemma is being able to raise that amount of money [in accordance] with our timeline so we could stay on track."

 The group is hoping to break ground by the middle of next year and to potentially open in early 2015.

 Encore, projected to be a 45,000 square-foot complex, would feature a 160-person gourmet restaurant, eight multimedia auditoriums, private meeting rooms and a rooftop terrace to host of events. Laing said preliminary discussions have taken place with the Bahamas International Film Festival (BIFF) to make Encore the permanent venue for the annual event.

The group is seeking to take advantage of the large number of high-net-worth individuals who live in western New Providence.

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