The Pointe Downtown Nassau
CHINA Construction America yesterday broke ground on its $250m Bay Street luxury development in downtown Nassau, The Bahamas. This project is another major development which will continue to fuel the growth of the economy and demand for The Bahamas as a premier destination.
#Scheduled for a 2017 launch, the Bay Street project is expected to provide 250 construction jobs for Bahamian workers, and some 500 jobs within the 200-room entertainment hotel, oceanfront residences and 80-slip marina. The development also boasts a 1,000-car garage, a bowling alley, and movie theatre.
A highly touted element of the project is the proposed boardwalk that will connect the resort to the Woodes Rogers Wharf.
The Pointe will consist of 110 condo units, a 200 room hotel, movie theaters, retail shops, a performing arts centre, a spa, entertainment venues, at least 14 restaurants, a marina and parking garage. The project is expected to create over 200 construction jobs and 500 permanent jobs once completed.
"Our commitment to the Bahamas is stronger than ever," said Ning Yuan. "The Pointe is an exciting project that will create the ultimate downtown destination for both tourists and local Bahamians. It will contribute significantly to the Bahamian economy in the form of job creation and long-term tax revenue and will serve as a catalyst for redeveloping the entire downtown waterfront."
"This is a development that will delight residents and visitors alike," said Daniel Liu, Senior Vice President of CCA and President of The Pointe. "It represents the beginning of the revitalization of the downtown area and will ensure Nassau is a thriving epicenter of culture, commerce and recreation."
Ms. Kim Guadagno, Lieutenant Governor of the State of New Jersey, extended her congratulations and said: "I congratulate CCA, a New Jersey headquartered company on the ground breaking of its new resort."
During the initial signing ceremony surrounding the purchase of the property last October, Prime Minister Christie highlighted the positive prospects of the project and extended his appreciation to CCA for its contribution to the local economy. He shared that the project would help realize his dream of reinvigorating downtown Nassau. The Bahamian government wanted not only a competent buyer to upgrade the hotel, but a visionary developer that would focus on unleashing the maximum potential of the area to deliver significant benefits to local residents.
CCA acquired the six-acre property for The Pointe in December 2014. The Pointe is entirely self-funded by CCA. CCA will serve as the sole investor, developer and contractor for the project.