The Tribune

Palm Cay’s developers on Wednesday opened reservations for Phase 3 of The Anchorage, its luxury condominium offering that is emerging as its most sought-after product to-date.

“When we opened reservations for the first two phases, demand exceeded supply, and even with bank financing approval to complete sales, both phases were 90 per cent sold-out prior to completion,” said Zack Bonczek, director of sales and marketing at the nearly 70-acre development.

“That early success with phases 1 and 2 pushed us to release Phase 3 slightly ahead of schedule. Since the November announcement that we would be taking reservations soon, there’s been a great deal of interest. We could be ‘sold out’ in a matter of hours.”

‘Sold out’, explained Mr Bonczek, refers to the number of reservations compared to number of units available. The reserving buyer, lor prospective purchaser, may still have to qualify for bank financing.

Pre-construction prices for the two-bedroom (plus study) unit,s with nearly 1,500 square feet of living space, nine-foot ceilings, hurricane-rated impact windows, granite countertops and fine finishes starts at $375,000. Single storey and two-storey models are available.

“The Anchorage, which will include 50 condominiums when all five phases are completed, is satisfying a demand for hassle-free living that is greater than we initially appreciated,” said Mr Bonczek.

“While the beachfront townhomes are particularly attractive to the international buyer, the condos are proving very popular to the local market, especially to two segments – the young professional and the slightly older couple who want to downsize, simplify and avoid steps, and the hassle and stress of outside maintenance.”

He added: “We continually talk about building a community at Palm Cay because that is what we are creating. It’s always at the top of our list of priorities - a secure, exciting environment for the kind of lifestyle that the Bahamas was meant for, with everything at your fingertips – 1,200 feet of white, soft sand beach, 194-slip full service marina, swimming pools, tennis courts, playground and the magnificent Billfish Grill restaurant and clubhouse.”

When completed, Palm Cay will include around 350 single family homes, townhomes and condos. The projected completion date by the developer is late 2017.