Developer seeking to invest $2 bil. at former Ginn Sur Mer siteSkyline Investments in negotiations with govt to purchase site’s 2,012 acres
The long dormant site of the Ginn Sur Mer development could have shovels in the ground some time soon as international developer Skyline Investments, through Grand Palm Beach Acquisitions Limited, is currently in negotiations with the government to purchase the development’s 2,012 acres in western Grand Bahama.
Skyline Investments is trying to finalize a heads of agreement with the government for the development, that will now be known as Bahama Bay. The $2 billion development is expected to take 10 years to complete, and will start with a 120-room hotel and the reopening of the West End airport.
The formal announcement was made at a town hall meeting in West End on Friday, where Skyline Investments executives presented their plans to Grand Bahamians.
“Skyline’s vision is to create a self-maintained, secluded, high-end, low impact innovation community that will provide residents and guests with an unparalleled Bahamian work and life experience,” stated a press release on the development.
“With pristine beaches and top-of-the-line amenities, Skyline aims to create a vibrant community with healthy living and a pristine environment. Skyline will use modern innovations and green technology to make sure it remains that way.
“Excitingly, the site is a stepping stone into The Bahamas. A resident can have an appetizing breakfast at one of the site’s luxury dining options, shop at the central commercial district, visit a doctor in the nearby modern health facilities, all just a 30-minute flight from the on-premises airport to the executive airport in Ft. Lauderdale.
“To further capitalize on these benefits, a smart city will act as a headquarters to high-tech startups, businesses and consultancies. This well-appointed technology park will attract innovators from all over the world.”
The Free National Movement (FNM) government has been focused on jumpstarting Grand Bahama since it came to office a little more than a year ago. Since that time it has reinvigorated prospects for both the Grand Lucayan resort and now the former Ginn Sur Mer property. Both projects are seen to be major boons for the island’s economic uptick.
Deputy Prime Minister and Member of Parliament for East Grand Bahama Peter Turnquest was present at the town hall meeting and answered questions regarding the announcement, according to the release. Also at the meeting were Minister of State for Grand Bahama Kwasi Thompson, Parliamentary Secretary of Communications and Information in the Office of the Prime Minister Pakesia Parker-Edgecombe and Bahamas Environment Science and Technology Commission (BEST) Director Philip Weech.
Government recently came under fire for signing a heads of agreement for a $5 billion oil refinery and storage facility without first satisfying the need for an environmental impact assessment, or holding town meetings on the project.
According to the project’s developer, Bahama Bay will be the first “fully integrated green community in the Caribbean”.
“We are proud to have the opportunity to develop Bahama Bay and be part of the West End community,” Gil Blutrich, chairman of Skyline, said in the release.
“We believe that this development will have a significant impact on Grand Bahama. We know that both the West End community and Skyline will grow together and become a major player in the hospitality industry in The Bahamas.”
Skyline Investments Inc. is a publicly traded Canadian investment and management company, according to the release.