The Tribune

The developer behind Hurricane Hole’s $250m revival has fully leased all the office space in phase one of its project together with 80 percent of the retail units, it has revealed.

Sterling Global Financial said the Paradise Island-based development is “on budget and ahead of schedule”, with 120 workers on-site and buildings under construction having already reached the third floor level.

$250m development that will inject new life into Paradise Island creating a live, work, play community with luxury condominiums, dining, retail, office space and a new superyacht marina is “on budget and ahead of schedule”, according to developer Sterling Global.

“Thanks to an incredible team, the Sterling Hurricane Hole project, including Sterling Commons, is on budget and ahead of schedule - a dream place to be any time you are in the midst of a project of this magnitude,” said Bill Green, president of Sterling Developments.

Sterling Global Financial broke ground on the 13.5-acre development, designed as a “live, work, play” community with luxury condominiums, dining, retail, office space and a new superyacht marina.

“After the music stopped and the festivities died down, we began work immediately and the pace has been steady. No more pomp, just a lot of performance on the ground and the promise is coming true, rising out of the ground and now up to the third floor,” said Khaalis Rolle, president of Sterling Advisory Services.

Messrs Green and Rolle said the goal is to complete the ten-year mixed-use project in half the time.

“On any given day we have about 120 workers on site,” said Mr Rolle, “and thanks to our construction management team headed by Nick Mamo, co-ordination has been superb.

“The landmark Hurricane Hole Marina will be restored to meet the requirements of today’s super-yachts while taking great care to maintain, and wherever we can, improve the surrounding or adjoining marine environment.

“We are committed to taking great care with the waters not only because it makes good business sense, but because it is the right thing to do. We know that we are just borrowing this land and these resources, and it is our role to protect and preserve for future generations.”

Sterling said 100 percent of the office space in Sterling Commons phase one is leased, along with 80 percent of the retail space. The occupiers include a yacht charter company, pharmacy and hair salon, with an anchor tenant to be announced shortly. 700 Wines & Spirits has already announced it will have two locations in Sterling Commons, which is scheduled for completion and occupancy in December 2020.