Posted by: travadmin on May 06, 2003 – 04:26 PM
outislands SOUTH BIMINI — One of the best kept secrets in The Bahamas today is a $48-million resort development being built on beautiful South Bimini.
The Bahama Journal
May 5th, 2003
American businessman Frank J. Cooney and his Bahamian business partner Rupert Roberts have quietly been constructing one of the finest resort facilities in The Bahamas. The Bimini Sands Condos and Beach Club.
To-date, some $28-million dollars have already been invested in the 90 acre beachfront property.
The owners are planning on constructing 216 condominiums at the site, 86 of which have been completed, and an additional 16 due for completion in six months.
The company is currently enlarging its marina facility providing 138 slips and the capacity to berth 200 boats ranging in sizes from 45 feet to 130 feet. The old docks constructed four years ago are also being replaced with new floating docks.
Mr. Cooney and his team are proud of their beachfront condos, the new restaurant and bar, pool bar, tennis courts, showers, bathrooms, Customs and Immigration offices, shops and other amenities recently opened to guests.
Mr. Cooney, in his determination to provide high grade services, recently pumped an additional $2- million in the construction of a water plant, providing good potable water for guests.
He also recently purchased and completely renovated the former 40-room Sunshine Inn at South Bimini, a property which offers a view of the waters surrounding Bimini from the ocean on the west, the Bahamas Flats on the east and the other islands of the Bimimi chain to the south.
“We went in and we completely gutted it, putting in new electric appliances, new plumbing, new tiles, new ceiling, and a twenty ton computerized air-conditioning unit,” Mr. Cooney said.
Additionally, the restaurant and pool facilities have been totally upgraded, as well as improvements to the 55-slip marina. The Hotels exterior balcony has been replaced and a new galvanized steel mansard roof has been added.
Mr. Cooney said his group is talking with “two different groups of people, who have expressed an interest in buying the property, developing it further, putting in at least a 200-room hotel and looking for permission to include a 10,000 square-foot casino, a 5,000 square-foot conference centre and creating a new 250 slip-marina for deep drafts boats of 20 feet.”
He said the group is also talking about developing a small golf course at South Bimini.
“It could be a very nice development for South Bimini. This could be in the range of $50 to $60-million dollars,” he said.
Mr. Cooney is excited about the possibilities that exist at the old Sunshine Inn, now called the Bimini Sands Beach Club, and the transformation that is taking place at his Bimini Sands Resort.
According to Mr. Cooney, sales for the complex are exceeding his expectations.
“In fact we are completing a unit now that is already sold and starting a unit that is also completely sold out. Right now, we cant build them fast enough,” he said.
The condos are a mix of one and two bedrooms. While they are built for sale, a large number of the units are available for rental.
The units are designed with large rooms and open living areas, taking full advantage of the beautiful tropical surrounding.
Mr. Cooney began the Bimini Sands project in l997. Originally from central New York, he has spent many years in the construction field in The Bahamas and throughout the Caribbean.
He described the Bimini Sands project as his dream.
“In terms of appreciation right now, we have been discovered and we are sold out through July of 2004. My problem right now is that I cant build fast enough to meet the demand.
“That, I think, has to do with the fact that we have been discovered by the people from Florida, who like what they see and see it as fair value,” he said.
As far as marketing for the property is concerned, Mr. Cooney said right now it is conducted by “word of mouth.”
He noted that some major developers and businessmen from Florida have been purchasing the condos and utilizing their marina. The units range in cost from $135,000.00 to $260,000.00
“We are trying to develop a first class resort here. We dont sell our property to any and everybody, nor de we rent to any and everybody. We are looking for good people, quality people whom we know would ensure a high standard at the resort,” he said.
The Bimini Sands project currently employs 100 persons and is a reliable source of employment for many local residents.
Mr. Cooney also seeks to acquire 2.3 acres of land to construct a playground for the children of South Bimini. He pointed out that there were no recreational facilities for the children on the island, which has a growing population. He also wants to work with the authorities in doing a general cleanup in both North and South Bimini.
The Bimini Islands are often described as being among the truly unique destinations in all the world, and has long been recognized as one of the finest sports fishing destinations.
The surrounding warm waters are also a popular destination for swimmers and divers interested in an undersea adventure among tropical reefs and sandy coastal flats.
Tourism Minister the Hon. Obie Wilchcombe, who is also the Member of Parliament for West End and Bimini, already sees a new Bimini emerging and reclaiming its image as the “Gateway to The Bahamas.”