The government intends to purchase land in the South Ocean area to prevent it from being sold as part of a proposed multimillion-dollar subdivision, according to Prime Minister Perry Christie.
“I have asked as prime minister and minister of finance representatives of the owners of a substantial set of property in that part of the island of New Providence to give me a price for their property – between 800 and 1,000 acres of land – because I would not wish that property to be brought for subdivisions similar to what is now being proposed, said Mr. Christie while speaking in the House of Assembly on Wednesday night.
The American investors seeking the government’s approval for the subdivision want to develop it as an exclusive gated community with a Tiger Woods golf course to attract some of the world’s wealthiest people, Mr. Christie said.
Only recently, the prime minister told The Bahama Journal that the government is looking favourably at a plan for the luxurious community development, which also includes a marina.
Mr. Christie believes that what is being proposed could rival nearby Lyford Cay, but he said in approving such plans from foreign investors, the Government of The Bahamas has to strike the right balance to ensure that Bahamians are not squeezed out of opportunities for property and homeownership.
It was a point he repeated in the House of Assembly.
“I would wish to ensure that we could acquire that property for the best interest of Bahamians and have Bahamian developers purchase that property from an entity owned by the government-to ensure that in this free market that we are able to ensure that those Bahamians who are able to buy upscale, medium scale, low scale housing would have access to property without having to compete, he said.
Mr. Christie has termed this effort a “balanced approach to development, adding that the government has to be “very concerned about the limited amount of land left on New Providence for housing purposes.
But on Wednesday night, the prime minister recognized that the government must proceed cautiously in this exercise.
“Very clearly, Mr. Christie said, “We don’t want to get ourselves in the position where we say no to foreign investors in purchasing. We want to be careful of that, but at the same time we know that to have the social calming effect in our country we have to be able to always have this balance between what is happening to effect the inflow of capital and what is happening to give Bahamians the release to move upward.
The investors of the gated community have agreed to ensure that Bahamians have adequate access to beaches in the South Ocean area, the prime minister added.
“One of the concerns my government has is the fact that if we do not exercise sufficient caution in the face of the development proposals, we could cause Bahamians to be further disadvantaged when it comes down to access to beaches, he recently told The Journal.
The transformation of South Ocean is also expected to include a major upgrade of the South Ocean Resort. Mr. Christie said he planned to attend a meeting yesterday to discuss the matter further.
The Canadian owners of the property are seeking to create a marina along with overhauling the resort, which has changed management several times over the years.
Mr. Christie told House Members that the redevelopment of South Ocean will create more job opportunities for Bahamians.
By: Candia Dames, The Bahama Journal
