Published On:Monday, February 08, 2010

By NEIL HARTNELL

Tribune Business Editor

PEDESTRIANISATION of Charlotte, Frederick and Marlborough Streets will form the centrepiece for the first phase of downtown Nassau's revitalisation, Tribune Business has been told, with those behind the project aiming to have financing for this included in the Government's May Budget.

Charles Klonaris, co-chair of the Downtown Nassau Partnership, the private-public sector entity charged with overseeing Bay Street and downtown Nassau's redevelopment also said the group aimed to have "a complete draft for the Authority to run the city" completed by year-end.

Adding that the Bahamas had "a very great opportunity" to redevelop Nassau's city centre and waterfront on a 35-acre site, once the container shipping facilities were gone, Mr Klonaris told Tribune Business that apart from pedestrianising those three streets, meaning an end to vehicle traffic on them, the redevelopment's first phase would also involve managed parking and moving all jitneys to a depot on the city centre's limits.

"What we're looking at right now is trying to get stakeholder buy-in to what we're doing," Mr Klonaris told Tribune Business, adding that much of this had already been achieved.

"Our first phase will be pedestrianising some of the side streets, Marlborough Street, Frederick Street and Charlotte Street. Those will be the first three.

"We have done an analysis, done a costing, and gone to the stakeholders in those areas. It will enhance their properties and bring a nice vista to their areas. The usage of those streets will be better. I think it's critical that's part of the first phase of the redevelopment of the city of Nassau."

Mr Klonaris added: "Once we get that buy-in, other things will come along, managed parking and moving the jitneys to a depot. That's all part of the first phase.

"Once we get a buy-in, we will present a White Paper to the Government. I think we've completed the buy-in in terms of feedback from the stakeholders, and how Woodes Rogers Wharf and Bay Street will look. On Charlotte Street, everyone is very enthusiastic that this will be the way to go

"The process is moving, and hopefully it will come out in time for it to be part of the 2010-2011 Budget. That's our target date."

Mr Klonaris told Tribune Business that starting the pedestrianisation was vital, since it was "critical to have something to show the public" that, after years of talking, there was physical evidence of progress being made in enhancing downtown Nassau and Bay Street. Most importantly, it would give downtown Nassau businesses and property owners "confidence" that the revitalisation would happen.

Meanwhile, the DNP co-chair said the body was due to meet again by month's end in a bid to sort out the details for the entity that would manage downtown Nassau. The two key areas for this entity, which is likely to be modelled on a business improvement district (BID) used to revitalise other cities worldwide, are its sources of revenue/funding and its responsibilities, meaning the services it will provide.

"Everything is coming together, and hopefully by the end of this year we will have a complete draft for the Authority to run the city," Mr Klonaris said.

He and his brothers have moved to lead the city's revitalisation themselves with their estimated $13 million transformation of Bay Street's former Moses Plaza into Elizabeth on Bay, providing a model and setting the standard for the area immediately east of East Street. In general terms, this area is badly in need of regeneration, its empty stores and shopfronts telling the story.

"It's going to be a showpiece. Seeing is believing," Mr Klonaris said of the project, adding that the developers hoped to have 70 per cent of the space leased shortly.

"I think it really captures how the waterfront should look. I think this development will be a catalyst, but also a showcase, of the functionality of the city, how it should work, enhancing the whole area."

Mr Klonaris said the "opportunity for change" was really going to come east of East Street once the container shipping facilities were relocated to Arawak Cay, with redevelopment here becoming the "defining moment in terms of how well and how beautiful the city looks.

"It's a great opportunity to develop 35 acres on the waterfront," he added. "We're pretty happy where we are."