Palm Cay officially broke ground yesterday on its $100 million One Marina residences. Palm Cay CEO Rob Batchelor said the development is expected to take three years to construct and will create some 50 to 75 jobs over the life of the build.
Batchelor explained to media following the groundbreaking ceremony that the construction will be headed by a fully Bahamian team, and when complete, will create several new jobs.
According to Batchelor, the construction will occur over eight phases with each phase costing between $8 and $10 million.
The development will comprise two and three-storey luxury condominiums and spacious penthouses overlooking the community’s award-winning marina, a press release on the development said.
Minister of Works Desmond Bannister was on hand to turn the first shovel of gravel to mark the official start of the project.
“This waterfront community on Nassau’s southeastern shore has become a sought-after place to live,” said Bannister.
“One Marina marks an important milestone in Palm Cay’s overall development. We hope other developers will be inspired to revitalize their real estate offerings to an upscale market hungry for vibrant communities to live, work and play and we appreciate the economic boost that a project like this generates.”
The press release revealed that One Marina will feature 84, two-bedroom residences ranging in size from 1,780 to 1,940 square feet being sold from $800,000; and three-bedroom residences that will be priced between $1.5 and $1.9 million that range in size between 2,751 to 4,228 square feet.
“One Marina is designed by Bahamian architect Winston Jones,” the release said.
“The project should be completed by the first quarter of 2020, according to Palm Cay’s contractor, HNR Construction.”
Batchelor said One Marina is likely to appeal to a wide range of Bahamian buyers as well as international buyers.
“For our homebuyers, we recognize this is not just a real estate purchase,” he said.
“They are buying a lifestyle and becoming a part of a neighborhood.”
Education: Florida International University, BS in Journalism
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