The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

NEARLY 90 percent of business owners at Port Lucaya Marketplace are struggling to survive, with several stores closing in recent months and others “hanging for dear life,” as merchants press the property’s owner for a temporary rent reduction amid declining foot traffic and stalled redevelopment.

Never Smith, president of the newly formed Port Lucaya Marketplace Association, said the financial strain has already forced several businesses to shut their doors.

“We've had, since the association started, a handful of companies that have actually had to close up shop and leave because they just didn't have the business to cover their overheads,” Mr Smith said, naming Tropical Gyro, Luxe Deli and Island Divas among those affected.

Many others, he added, are barely holding on.

“You have a few who are just hanging for dear life, and they're not sure how much longer they can do it,” he said. “I would say 90 percent of the business owners out there are struggling really badly to cover basic overhead costs.”

Against that backdrop, merchants, through the association, are calling on owner Peter Hunt to meet with them and consider a temporary reduction in rent as businesses grapple with low foot traffic following the closure of the Grand Lucayan Resort and amid plans to redevelop the Port Lucaya Marina.

Mr Smith is among more than 150 tenants at the marketplace. He noted that the nearby Grand Lucayan had historically generated significant foot traffic before closing in 2016 after sustaining severe damage during Hurricane Matthew.

According to Mr Smith, tenants have been waiting months for direct engagement with the property owner.

“Right now, we're hoping that we could sit with him very soon so that we could better understand what the plans are for the short and long term concerning the development of Port Lucaya,” he said. “He has given updates to other stakeholders in the community, but hasn't done so with his tenants as yet.”

The association, which has been in existence for almost six months, represents roughly 170 merchants, the majority of whom are straw vendors. Mr Smith said non-food businesses, including retail stores, have been hardest hit by declining sales.

“We're still in a bad state of affairs as far as our revenue as business owners out there,” he said. “People feel very discouraged and frustrated with the lack of traffic and how inconsistent it is.”

While the Grand Bahama Port Authority has provided some relief through discounted business licence fees, Mr Smith said merchants are also seeking assistance from marketplace ownership.

“When it comes to the ownership of Port Lucaya Marketplace, we're asking for a temporary reduction in rent until these developments take shape,” he said.

Last week, Mr Smith spoke publicly about the challenges facing merchants during a Facebook Live, highlighting poor foot traffic and the association’s inability to secure a meeting with Mr Hunt.

He said businesses selling souvenirs, jewellery, clothing and other non-food items are feeling the impact most, while food and beverage outlets have been less affected. Straw vendors, despite paying lower rent, are also struggling due to weak sales.

Mr Smith said outreach efforts are ongoing, including engagement with the Grand Bahama Chamber of Commerce.

“I am a director of the Chamber, and when I released the live on Facebook, I had a conversation with the Chamber President shortly after,” he said. “He reached out to Mr Hunt, who shared some insight on plans for the marina and surrounding properties.”

However, Mr Smith said the lack of direct dialogue with tenants remains a major source of frustration.

“A big part of our frustration is he refuses to speak with us,” he said. “As simple as a 30-minute or 45-minute courtesy meeting, we haven't been able to get that.”

The association plans to continue speaking out publicly and engaging community leaders in an effort to bridge the gap. Mr Smith said Rupert Hayward, co-chairman of the GBPA, has been assisting in those efforts.