NPDC eyes condos for Lyford Cay Shopping Center
As one development rises in the West, another will soon fall.
The $30 million Old Fort Bay Town Centre is now in full steam ahead in Nassau, with the promise of shops, offices and restaurants that will create a commercial heart of rising western communities.
Meanwhile, the Lyford Cay Shopping Center, located a stone’s throw from the gates of Lyford Cay, will be phased out and demolished to make way for a new development.
Although the fate of the shopping center has yet to be determined, a leading contender for the coveted property is condominiums.
“It doesn’t make sense to have two shopping centers in close proximity,” said Jane-Michele Bethel, broker and sales & marketing manager for The New Providence Development Company (NPDC).
“It’s prime location with two marinas in the immediate area, so it’s suitable to high-end accommodation, not a shopping center.”
At the moment, Bethel told Guardian Business that there are 18 stores or offices in the Lyford Cay Shopping Center. In the past, there were as many as 25.
A portion of the 18 will be moving over into the new retail and office area of the Old Fort Town Centre.
Bethel pointed out that NPDC is currently focused on bringing the new development to fruition, with the fate of the old center on the back burner.
On Wednesday, Guardian Business toured the new commercial development in Old Fort Bay, which aims to cater to the under-serviced residents in the area. Bethel said NPDC’s present activities are part of “the long-term vision and community planning”.
Solomon’s Fresh Market, due to be open sometime this month, provides an anchor to the Old Fort Bay Town Center, with a second anchor being planned in the light industrial zone.
The latter is more a long term goal for the development.
NPDC is focused on making sure the supermarket opens successfully – a service much needed in the area – and getting the tenants for the first-phase of shops and offices into the building by the end of the year.
“This side of the island is starving for a food store,” Marcus Grammatico, vice president of finance and secretary at NPDC, told Guardian Business during the tour.
“But beyond that, we want to do something special. This development represents the ability to purchase the things you need and want in an appealing, aesthetic atmosphere to service the western community.”
A number of communities both new and old in the West are expected to fuel this development, including Lyford Cay, Serenity, Albany and Lyford Hills.
Similar to the fate of the Lyford Cay Shopping Center, the final decision on the “second anchor” in the light industrial park has not yet been determined.
Talks are ongoing, Guardian Business understands, with the possibility of a major retial, all-purpose store finding a home in Old Fort Bay Town Centre.