By YOURI KEMP
Tribune Business Reporter
ykemp@tribunemedia.net
GoldWynn’s developer yesterday said it no longer plans to acquire additional Goodman’s Bay real estate to its immediate west and will instead move eastwards with its $100m second phase expansion this year.
Randy Hart, the Wynn Group’s vice-president, told Tribune Business that ambitions to acquire the La Playa property and another land parcel to GoldWynn’s west have been scrapped but the project will continue to develop moving east.
He added: “We have an understanding with the Government, and Baha Mar as well, to undertake some improvements to the Goodman’s Bay park generally. There is a committee that was formed for that purpose, which we sit on, and are just awaiting further direction from government to execute the plan.
“We’re not the only developer in Nassau, and we certainly hope that if there is a development to the west of us that is done appropriately. There are planning issues involving the Goodman’s Bay park and the neighbourhood in general that we would want to see addressed, and that all the stakeholders are contributing equally and fairly towards the improvements that are required to this area.
“So those are issues that I hope will be addressed in due course. Right now, as far as we know, there’s still a for sale sign out in front of the property next door. So whatever happens on the western side of us will unfold over quite a long period of time,” Mr Hart continued.
“There’s also the La Playa property next door to us owned by the National Insurance Board (NIB) that still has a question mark over it as well. It remains derelict to this day and we’d certainly like to see some improvement and beautification of that property.”
As for GoldWynn’s phase two development, Mr Hart said: “We have received all of the preliminary approvals for the second phase of GoldWynn, which would include a smaller scale that is at a commensurate level of the quality of the building next door, on the eastern side of the property. We’re expecting to start that early in 2023. That would be a roughly another $100m investment.”
Phase one is 95 percent sold, with the first 25 tenants already moving in as of this week. The GoldWynn hotel will be finished next month and is already receiving strong bookings. “The building is divided into two sections. There’s the residential wing and the condo hotel, where the condo hotel owners have been permitted to move in to the units that we have,” Mr Hart added.
“We won’t be accepting paying guests until the first the first week of February, at which time we will have the official opening of the hotel component. This will include all the resort amenities; the spa, the restaurant, the beach bar, the cafe, the fitness club and everything else.”
All first phase units were said to be “basically ready for occupancy”, with just the last fittings and furnishings remaining before February’s grand opening.
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