The Tribune

AN economic stimulus zone can be created around the $2.6 billion Baha Mar project to help jumpstart business along the West Bay Street corridor, a Bahamian realtor yesterday saying it could become “the new Bahamian Reviera”.


Mario Carey, head of Mario Carey Realty, said he believes that a commercially zoned four-mile radius along West Bay
Street spinning out from the Baha Mar project would unleash entrepreneurial opportunities, create jobs, increase property values and take pressure off congestion in other areas.

This, he added, had the potential of becoming “the single biggest economic boost for a variety of small to mid-size businesses in a concentrated area that we have ever experienced”.
 The four-mile radius would stretch from the western end of the Saunders Beach shopping centre (where KFC is located) in the east to the
residential entrance to Sandyport on the west.

“Currently, there is a mix of residential, commercial and recreational uses,” said Mr Carey. “So you have a large grocery store, for instance, in between a new, upscale strip shopping plaza on the east, and
single family residences on the west. What exists is not based on planning. It just grew up that way. It’s been piecemeal with each new proposed project fighting its own battle for development rather than being planned with
deliberate consideration and according to solid resort region planning principles.”
 If addressed through proper urban planning with lush landscaping, attractive lighting and good security, Mr Carey said West Bay Street could become the new Bahamian Riviera.

“This is not to detract from historic downtown Nassau, which is beginning to come into its own now that container shipping has been relocated, but what I am calling the ‘new Nassau’ or what is being termed the new Bahamian Riviera’ could provide so many opportunities and jobs for Bahamians by feeding what will be an almost insatiable appetite for goods and services by those staying at Baha Mar, buying condos within the resort complex or working there,” said Mr Carey, whose company was named one of five Bahamian realtors approved to handle Baha Mar sales.

“I see cafes, book stores, small clubs, boutiques, day spas, clinics, day care, car rental, all sorts of businesses. There could be professional offices, bakeries, craft shops, a vibrant, vital resort-feel city life.”
 The first step, Mr Carey said, is commercial zoning in the four-mile east-west radius along West Bay Street with no further extension into established neighbourhoods.

Second may be financial incentives for the zone. “Here is an opportunity for Bahamians if we provide specific time-restricted financial incentives for the area, perhaps real property tax forgiveness for five years or exemptions for businesses within the zone similar to Hotels Encouragement Act benefits,” said Mr Carey.
 “What I am suggesting is a fundamental re-thinking about an area soon to explode with life, and we have not addressed the immediate surroundings. Right now it is the largest single-phase construction project in the hemisphere. Soon that construction will be a booming resort. Once that happens, there is going to be a flood of activity in the surrounding area but so far we are treating the region as if the hotels, casino, condos, attractions and restaurants will exist in a Baha Mar bubble.

“I just wanted to start the conversation now while there is time to plan and opportunity for Bahamians to benefit. This is a way for us to get the economy moving, reduce unemployment that is highest among Bahamians under 25, and for Bahamians to benefit from a resort in our own community that will offer the highest standards in hospitality and amenities. What
surrounds that resort is up to us to determine and define. Let’s do it right and Bahamians will benefit.”