“South Eleuthera is getting back on the map,” according to developer Richard DeVos, who was given the green light to commence his development project, detailed in the Heads of Agreement signed by his team and the government at the Cabinet office Tuesday evening.
The estimated $34 million dollar investment, undertaken by the Cape Eleuthera Properties Limited, will begin Phase I of the development immediately.
This phase of the project will include development of property, an addition of 30 hotel rooms to The Inn at Powell Point, office and retail space, casual dining restaurant, and a reverse osmosis desalination plant – all anticipated to be completed in 24 months.
The second phase of the development will conclude the construction of 30 more rooms to The Inn at Powell Point, 15 estate homes, 12 beach villas, retail shops, and landscaping work, which it is reported would be completed in 48 months.
Reconstruction of the Cape Eleuthera Marina is also a part of the development plans and will include a pump-out and treatment station, water and electrical upgrades, dock pedestals for utilities and the upgrading of an existing building to be used as the dock master’s and marina office.
Speaking at the signing, Deputy Prime Minister, Cynthia Pratt assured, “This will present dynamic opportunities for the island of Eleuthera and the existing residents.
“It will also result in millions of dollars flowing into the town which will be a great benefit for businesses, creating high quality recreation, social and cultural activities and events, the destination guest, and second vacation home owners,” she said.
The developers have reported that it is their intention to employ Bahamians in the pre- and post-development phases of their work, and they “anticipate employing 80-100 Bahamians during peak of construction and 80-100 Bahamians during the operational phase of Powell Point.”
It was reported that residents in Eleuthera welcome the development and share in the excitement of the developers. Most appealing to the residents however are the opportunities that would be available to them in the way of jobs and “opportunities for Bahamian entrepreneurs.”
According to Mr DeVos, “We’ll be using contractors and local talent in every way we can. Some projects of course necessitate going to larger contractors, but clearly, it’s the best interest of the project and everybody to stay as local as you can.”
By Barry Williams, Nassau Guardian Staff Reporter
