John Melk, the US-based developer and owner of Musha Cay in the Exumas, yesterday confirmed he had purchased the Paradise Island real estate formerly owned by Marriott Vacation Club International for an estimated $11 million.
In an exclusive interview with The Tribune, Mr Melk said a decision will be made in the next 30 to 60 days about the property’s future development.
He indicated that his company has spent some time getting approvals for the construction of 100 low-rise luxury condominiums, but has also received two unsolicited offers for purchase of the Paradise Island land that he is also considering.
Meanwhile, concerns expressed by owners of timeshare properties at the Paradise Island Beach Club and the Paradise Harbour Club and Marina have been addressed. Neither property is included in the recent deal with Mr. Melk. They are separate properties owned by Peter Kugler and Christopher Lightbourne.
