The Tribune

By AVA TURNQUEST

Tribune Staff Reporter

aturnquest@tribunemedia.net

ALBANY developers yesterday donated $1m to the Urban Renewal Foundation in a move hailed as unprecedented in corporate sponsorship.

Underscoring the public-private partnership, Prime Minister Perry Christie said developers were well on their way to establishing the “Monaco of the Caribbean” as construction at the western New Providence site continues.

Yesterday, Christopher Anand, Albany’s managing partner, said developers were on track to creating the most luxurious condo hotel on the planet.

Mr Anand said that 98 per cent of the project was staffed by Bahamians, adding that developers rejected the status quo to develop quality local workforce.

Yesterday’s presentation comes nearly a month after the Christie administration and developers of Albany signed and sealed an amended Heads of Agreement that will allow for a $140m expansion.

Developers of Albany plan to add a hospital and heli-pad, along with a health and wellness centre.

Mr Anand expanded on plans for the hospital yesterday, adding that the facility would offer stem cell therapy.

A financial arena, sports academy with boarding accommodations and an expansion of Albany’s marina and residences to include 50 additional marina and condominium units is also expected.

During the construction phase, 1,000 people will be employed with 300 permanent jobs to follow upon completion. Work will begin as early as the second half of this year and continue to 2023.