NASSAU, The Bahamas – Eleuthera got another economic shot in the arm with ground-breaking ceremonies on Thursday, July 20, for the construction of a multi-million dollar upscale resort and villa on Current Island.
The $8 million project will hire 65 Bahamians during construction and 25 full-time employees upon completion in two years.
“The Current Club Group has committed to making a sound eco-touristic investment in The Bahamas,” said the Hon Vincent Peet, Minister of Financial Services and Investments.
Also present were the Hon Oswald Ingraham, Member of Parliament for North Eleuthera, the Hon V Alfred Gray, Minister of Local Government and Consumer Affairs; Senator the Hon Bernard Nottage, Minister of Health and National Insurance; Mr. Ali Kas and Mr. Marc Mirbod, partners, KLM Properties; Mr. Mark Klosky and Mr. Mark Lopez, sales and marketing representatives; and Mr. Basil Albury, Director of Investments.
The Minister and his delegation also toured the Cotton Bay Estates and Villas, currently under construction, and the South Eleuthera Mission, a community resource centre under renovation.
Residents hope that the proposed development would restore their historic community, severely damaged during Hurricane Andrew in 1992.
Over the past three years, three developments, including the Governor’s Harbour Resort and Marina, the $85 million Windermere Island Development Project and refurbishment of The Cove Hotel in Gregory Town, have affirmed that developers view Eleuthera as an exciting destination to invest in, Minister Peet said.
He said the Cotton Bay Club, which is under construction, is “a testament to the Government’s commitment to proactively and diligently facilitate positive investment in our country while concurrently adhering to strict eco-touristic principles.”
The Current Club Group has committed to developing an upscale resort/residential community complete with 34 condominium hotel units and villas, marina, restaurant and upgrading of the existing dock. The group is to develop two acres of the property, while leaving the remaining four acres in its natural state.
“The investors have agreed to assist the government with repairing and repaving the right-to-way that borders the development leading to the government docks,” Minister Peet said.
The villas will consist of two and three bedroom units furnished on the inside with tropical hardwood trim, marble, stone and a mahogany finish. Bahamian artwork will highlight the décor of the room. Amenities will include swimming pools, fitness room, business centre and a game room.
It is expected that the development will require the services of local entrepreneurs to provide basic necessities to visitors and residents of the resort. The developers has also committed to utilizing Bahamian produce and local art and handicraft.
“As part of the Ministry’s due diligence, we are satisfied with the development experience, capability and attention to environmental sensitivities that the Current Club partners have shown in other projects in the United States,” Minister Peet said.
Mr. Klosky will construct and manage the operation at Current Club. He is a licensed realtor in Florida with over 20 years experience in oceanfront development. He owns a home in Eleuthera and is co-founder of the Gregory Town Hurricane Relief Project and has donated over 4,000 pounds of supplies to the island.
Mr. Lopez, his partner, has over 25 years in commercial property development, marketing and sales. Mr. Kas and Mirbod will serve as strategic partners of the development. They are both in the process of developing a 125-acre project in Palm Coast, Florida.
