Posted by: Editor on Aug 24, 2006 – 09:57 PM
newsandinfo The transformation of the Lucaya area into a multi-million dollar yachting paradise is steadily under way and ground is set to be broken next week for a new condo hotel.
The Rotary Club of Lucaya heard yesterday that it is one of the first projects Danish investor Preben Olesen is undertaking since acquiring the Port Lucaya Marina.
He was speaking at the club’s weekly luncheon meeting at the Ruby Swiss Restaurant.
The goal is to accommodate the substantial number of mega yachts being built worldwide. One of the challenges is the dredging of the Bell Channel to accommodate some of the bigger yachts.
The developer signed a $6.8 million deal on July 23 with the Grand Bahama Port Authority to acquire the Port Lucaya Marina.
Prime Minister Perry Christie was here to witness the signing moment and pointed out that Olesen will help the government to promote Grand Bahama as a first-class, world-class tourist destination.
In fact, Olesen plans to invest $500 million in the creation of a mega yacht marina, a condo hotel, a condominium and townhouse development, club house and a beach club.
The wheels were already set in motion with the purchase of the remaining stocks of New Hope Holding Company Limited earlier this year from long-time developer Erik Christiansen, a fellow Dane.
That entailed the Ferry House Restaurant in Port Lucaya and a large portion of the land around Bell Channel, some 40 acres of land around the basin of the marina.
Additional homes will be built in the village and the beach club is on the drawing board for Taino Beach.
Now, Olesen plans to fuse the two marinas and shape the mega yacht marina metamorphosis.
The first step for the company was the renaming of the old Lucayan Marina Village to the Grand Bahama Yacht Club.
The 240 bedroom, 62 suite-condo hotel will be constructed on the corner of Midshipman and Seahorse Roads and will target the travelling golfer.
“This condo hotel is something we put some serious work into designing. It is a hotel where most of the rooms are actually going to be four-bedroom suites,” Olesen told Rotarians yesterday.
Almost simultaneously, ground will be broken for another building in the Grand Bahama Yacht Club, the chairman and chief executive officer also revealed yesterday.
The 38,000 square-foot building will incorporate six new luxurious condominiums with a Bahamas Customs and Immigration area, corporate offices and a cafe on the bottom floor.
A club house will be constructed at the marina to be outfitted with a fitness centre and restaurant and bar for the members.
“We also have some plans for some other developments that are currently in the process of being done. There will be some other buildings coming in,” Olesen noted.
Pointing out that it is not a dream, but something that is happening right now, the Danish investor says the project also lends great opportunity for employment.
“I’m excited about being able to employ a lot of Bahamians here because you sure make it easy to like this island,” he said.
Source: The Freeport News