A 2,000-acre oceanfront land development project
that presently includes 150 developed acres, 70 homes,
72-slip marina and 50 bungalows. The project has a
most favorable support of the island government. (Grand
Bahama is very attractive in that there is no drug
trafficking and this location is 56 miles from Miami,
Florida.) An experienced development team is in place.
The project is seeking $138,000,000 for Phase I,
which will complete in 30 months from launch with
a net operating income $170,000,000 after repayment
of the $138,000,000.
Phase I includes:
-
Construct an 18-hole championship
golf course
-
Complete 150 golf course home sites
-
Complete 150 waterfront home sites
-
Complete 150 oceanfront home sites
-
Complete 5 hotel pad sites
-
Complete sites for assisted living
facility and international clinic
-
Complete roads and infrastructureInitiate
200-slip deep-water marina
-
Initiate 200-slip deep-water marina
Phase I funds usage include:
- Acquire 2,000 acres: $77,000,000
- Completion of development plans and approval: $2,390,400
- Completion of Phase I development: $49,000,000
- Sales & Marketing development and execution:
$10,000,000
The total project includes 600 ocean front homes within
a golf course development, 200-slip marina, luxury hotel
pad sites, assisted living site and international medical
clinic utilizing 600 acres. The sale of the additional
1,400 acres has projected net operating profits over
60 months greater than $500,000,000.
Drax Hall Estate – St. Ann Jamaica
An original sugar plantation that includes a historical
800 acres with 2 miles of oceanfront property.
The planned development calls for:
- A 280 room beachfront hotel
- 27 hole championship golf course
- Master planned resort community with villa and condominium
sites Country club
- 100 slip marina
- Shopping, dining and recreational facilities
$10,000,000 has been invested in Phase I infrastructure
by the developer, which has also assembled an experienced
team. Phase I consists of the development and sale of
147 lots consisting of .5 acres to 1.0 acres with ocean
view.
Negotiations have been ongoing with operators for the
resort hotel and golf course with Marriott having first
right of refusal.
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