The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

GRAYCLIFF executives said yesterday that they anticipate starting there ‘Heritage Village’ project in early 2013, president Paolo Garzaroli telling Tribune Business that the goal was to create a “new downtown”.

Mr Garzaroli told Tribune Business that plans to turn the historic West Hill Street area, located opposite the Graycliff Hotel and Restaurant, into a ‘Heritage Village’ had been put on hold as the company was looking to secure the necessary financing.

“We are negotiating financing right now for Heritage Village, so we have had to put that on hold at the moment, but if we get the necessary funding we would like to begin the project early next year,” said Mr Garzaroli.

He explained: “Basically we are going to close West Hill Street off, and it’s going to be about 150 small boutiques, nothing big. The biggest boutique is probably going to be 20/20. Part of it is an artist galleria, so it’s about 50 locations where we will have little artist studios where they can make their own painting, woodwork, straw work. We are also going to try and get a glass blower here to make glass artwork, jewellery and different things.

“There will be authentic Bahamian straw work, and we will really showcase what The Bahamas has to offer, and essentially really create the new downtown. When you go there you will be guaranteed to get something Bahamian. The whole goal of Heritage Village is really to have an authentic Bahamian experience; to really give the historical value of the Bahamas and put us back on the map.”

The cost of the Heritage Village project is about $25 million, said Mr Garzaroli.

“We have already invested quite a large sum into the chocolate factory, restoring this building and partially repairing the buildings across the street, but there is probably about another $15-$20 million that needs to be spent.”