By NATARIO McKENZIE
Tribune Business Reporter
DEVELOPERS have broken ground on a 42-acre gated condominium and town home community in western New Providence, with several residential units expected to be completed by March 2014.
Matt Sweeting, sales and marketing associate with Bahama Islands Realty, told Tribune Business that the Venetian West Bahamas development, situated behind the Old Fort Bay Town Centre, offered a “unique value proposition”, featuring a “medley” of two and three bedroom units, with price points starting at $238,000 for a 991 square foot unit up to $349,000 for a unit just under 1,800 square feet.
The Venetian West is a Land Development by Quantas Investment Group Limited a company made up of both Bahamian and Foreign Investors.
“It’s going to be the largest and most luxurious condominium development on the island of New Providence,” said Mr Sweeting, with the first phase of the two-phase development to consist of 211 units.
“This development, in my opinion, answers the concerns of the Bahamian buying community over desirable location, affordable pricing and reputation of developers.
The development is being marketed as a collection of contemporary condominiums and town homes, nestled in a highly desirable district of western New Providence, with amenities that include 24-hour security, a community swimming pool and a club house.
The clubhouse includes a pool, external amenities as well as a volleyball court, basketball court, tennis court and several residential buildings and will be completed by March 2014.
“What this offering does is give people the ability to get in where they fit in, or get the model that suits your family,” said Mr Sweeting.
“In-house financing is being provided as a logical solution to frustrated home buyers who may currently be unable to borrow from commercial lending institutions.
An introductory special of 5.95 per cent interest for one year and 5 per cent down for any one of the units is being offered until November 30.
“Western New Providence has always maintained its appeal. Venetian West has a unique value proposition in terms of location, price and quality of construction. It’s close to the airport, it’s across the street from Turnberry and Charlottesville, behind the Old Fort bay Town Centre.”