By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
China Construction America (CCA) is now awaiting approvals for the condominium hotel and marina phase at The Pointe, with all seven available retail outlets fully leased.
Neworld One Bay Street, the CCA subsidiary that owns The Pointe site, is seeking planning for Phase II, having already opened its seven storey, 900 space parking garage.
Kendeno Knowles, The Pointe’s spokesman, said the first phase, called Park Avenue, is more than just a garage. “The garage is only one element of phase I,” he said. “You have retail spaces and a financial tower in there as well.” A cinema and bowling alley are also part of the offering.
“All of the retail spaces are spoken for. In total we have seven retail outlets and they are all under contract,” said Mr Knowles.
The Pointe is a $200 million project, featuring a 200-room resort component and an 80-slip marina next to the British Colonial Hilton hotel.
The resort was sold in 2014 to CCA, the company’s first acquisition in the Caribbean and part of a long-term investment strategy for the Bahamas.
CCA is a subsidiary of China State Construction and Engineering Company (CSCEC), which is the largest construction company in the world with 2013 sales of $116 billion. It is also the main contractor for Baha Mar.
Mr Knowles explained that the garage, which opened last October, is currently accessible to previous parking spot holders and tenants of the commercial centre in the British Colonial Hilton.
“We have allowed those folks first preference to come in and pay for spaces. We also have tenants that we have from the British Colonial Centre of Commerce. We have been open, just not to transient traffic at this point, and we are getting ready to make an announcement on that very soon,” he said
Mr Knowles added that the garage opening during the New Year’s and Boxing Day Junkanoo Parades had been “oversubscribed”.
“People saw it as a viable option for parking, and a lot of people capitalised on the opportunity to protect their vehicles,” he said.
Comments
banker 7 years, 2 months ago
I will bet you that the leases belong to PLP cronies.
hallmark 7 years, 2 months ago
Sorry, I won't take that bet. LOL
Well_mudda_take_sic 7 years, 2 months ago
MINNIS, AND MINNIS ALONE, WILL BE RESPONSIBLE FOR THE PLP WINNING THE NEXT GENERAL ELECTION AGAINST IMPOSSIBLE ODDS IF HE DOESN'T TURN THE FNM OVER TO JUST ABOUT ANYONE ELSE.....BUT FIRST HE SHOULD HELP WITH THE DUMPING THE VERY GREEDY AND CORRUPT IDIOT, SIDNEY COLLIE, WHO CURRENTLY SERVES AS THE PARTY'S CHAIRMAN. NO ONE IS GOING TO VOTE FOR THE FNM IF MINNIS AND/OR COLLIE ARE STILL IN THE PICTURE COME ELECTION TIME. THAT'S THE SIMPLE REALITY OF THE SITUATION AND CROOKED CHRISTIE KNOWS IT AND MINNIS MUST NOW STRONGLY SENSE IT. THE BAHAMIAN PEOPLE WILL MAKE MINNIS THE MOST HATED BREATHING BAHAMIAN IF HE INSISTS ON SINGLE HANDEDLY BEING RESPONSIBLE FOR GIVING THE CORRUPT CROOKED CHRISTIE-LED PLP GOVERNEMNT ANOTHER FIVE YEARS DURING WHICH TIME THEY WILL COMPLETELY DESTROY THE BAHAMAS.
TalRussell 7 years, 2 months ago
Comrades! You has know there will be rumours out there about the Who's Who Leaseholders at Baha Mar and The Pointe?
Tell me, who/whom are exactly the beneficial owners of Baha Mar & The Pointe?
svenh 7 years, 2 months ago
I've been saying this for 10 years: That garage is an absolute gold mine. I congratulate the Chinese's and the government's realistic view of around 900 car spaces in light of the undeniable needs of the Hilton conference facilities and both British Colonial business centres in addition to the estimated new traffic. The land there is too valuable though, which is why it might have been more appropriate to build the parking garage behind the Hilton to replace those derelict buildings deprived of sea view (Bahamian land owners, you missed the opportunity of a century), to rid the area of the late night noise and occasional crime (Hilton guests facing the hill, be prepared to continue to suffer), to create a shop front opposite the Hilton and large bill boards (additional revenue to the already golden cow) and to create new jobs for Bahamians via valet services, car wash, repairs, lettings, etc.
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