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Palm Cay Offering Well-Received

Less than three weeks after a late July unveiling of its first condominium offering, representatives of the seaside community of Palm Cay said response has been “very encouraging,” with several reservations coming in from serious potential buyers and more expected in the next few weeks.

“We are very pleased with the response so far,” says Zachary ‘Zack’ Bonczek, Director of Sales and Marketing at the 69-acre marina and beachfront development on the island’s southeastern shore. “One day after we announced The Anchorage with two bedroom condos near the marina, steps from the beach with a starting price of $319,000, we got the first reservation. Less than two weeks later, nearly half of the 12 units to be built during Phase I were reserved. The interest has been steady enough with serious buyers that we think we are on the right track, adding to our initial offerings of single family lots and more expensive multi-level townhomes, spreading the appeal to a wider audience. The Anchorage is showing every indication of being a real winner.”

The Anchorage could be the fastest growing success story for the secure community that is increasingly appealing to both local and foreign buyers. With three floor plans available, The Anchorage’s two-storey, 2-bedroom, 2-bath, 1,400 square foot condo at $329,000 is attracting young professionals, said Bonczek, while the largest of the three designs, the single level, two bedroom, two-bath Acklins design, is appealing to the couple who may be interested in downsizing, not wanting to climb steps but wanting to live in an active community where they are close to their boat or the beach, a community packed with amenities from pools to clubhouse.”

According to Bonczek, if reservations continue at their current rate, Palm Cay will be able to roll some over to the next phase. To avoid speculation by real estate brokers, agents or private investors, Palm Cay has limited pre-construction reservations to two per buyer, making way for those who may want to purchase a second unit for a family member. The unique reservations process allows potential owners to reserve their spot on a first-come, first served basis with a fully refundable $5,000 payment. Future owners will be allowed to lay the first brick for their home in a process aimed at incorporating a sense of community even before the construction is complete. Current homeowners will be allowed to take part in the selection process and will offer insight on features, designs and amenities. Ground on Phase I, some 12 residences, is expected to be broken in September with a full build-out plan of 50 condominiums in the section. All condos will feature 9-foot ceilings, granite countertops and travertine tile.

“With Palm Cay we are really building an atmosphere that caters to an active, family-oriented lifestyle and our recent activities have reflected our push towards that,” said Bonzcek. “I think that’s why we are now being referred to as the authentic Bahamian community. Each week we invite families to enjoy our Family Fun Saturdays with kayaking, snorkeling, beach volleyball, a fully stocked bar and food catered by Chives and we have hosted a number of events including fishing tournaments, boat show and Sea, Wind, Sail art auction to raise money for junior sailing. This is a very exciting time for us and a really great time to be part of Palm Cay.”

Palm Cay is home to the island’s largest mid-sized boat marina and features 24-hour security and more than 1,200 feet of protected, powdery white sand beaches. The $200 million development is fully investor-funded.

Diane Phillips and Associates

Posted in Business

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