The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A $14 million Bay Street plaza has leased 75 per cent of its available store space, one of its developers yesterday telling Tribune Business it was critical to all businesses ‘east of East Street’ for the long-promised waterfront boardwalk to be constructed.

Explaining that the Elizabeth on Bay plaza was anticipating a boost from the November opening of its two ‘anchor’ restaurants, Charles Klonaris, who is also the Downtown Nassau Partnership’s (DNP) co-chairman, said the boardwalk was vital to bringing cruise ship passengers to that area of town.

He added that also key to revitalising Bay Street ‘east of East Street’ was the redevelopment of the former Betty K property, plus what the Government intended to do with its publications building - the property immediately to the west of Elizabeth on Bay.

Mr Klonaris said the DNP had envisioned the government publications building being transformed into a water taxi terminal, ferrying passengers between downtown Nassau and Paradise Island.

He suggested that Bay Street’s redevelopment should ultimately incorporate three water taxi terminals, which would be responsible for transporting visitors and locals between downtown and New Providence’s two major resorts - Atlantis and Baha Mar.

As for Elizabeth on Bay, Mr Klonaris told Tribune Business: “We’re hoping by November that we’ll have the two major restaurants on the waterfront open.”

Blu had closed temporarily in September to “fine tune” and re-organise its menu, he added, while The Sur Club’s owner had invested heavily to produce a “first class” sushi bar, bringing in a specialist designer from the US to work on the interior.

Although uncertain on the numbers, Mr Klonaris said the two restaurants were likely to “conservatively” employ 30 persons between them.

He added that he was “talking to a restaurateur” about operating Elizabeth on bay’s Courtyard Cafe, with the other side “showing a keen interest”. A Bay Street store had also been leased.

“We still have four stores available out of 16,” Mr Klonaris told Tribune Business.

“We’ve had some retailers come and some go. It depends on the strength of it - the marina, the restaurants and the stores on Bay Street. We knew the interior, with smaller retailers not deep in pocket, would be a weak link so to speak, but everything’s moving.

“The economy is still very weak. The beginning of the year started off really good, but July, August and September have been very weak. Hopefully, retailers will do well during the holiday.”

Mr Klonaris, who developed Elizabeth on Bay with his brothers, added that two slips at its harbourfront marina also remained available, with seven now rented.

“It’s just about there in terms of the idea of the marina, the restaurants and the retailing,” Mr Klonaris said of their vision for Elizabeth on Bay.

“We were hoping by now there’d be a boardwalk linking us to Prince George’s Dock. That’s a key element moving traffic east of East Street to where we are. The boardwalk plays a very key role. It is a big part of tourists moving east after they disembark from their ships. Elizabeth on Bay needs support.”

He “understood” that plans were being made for the redevelopment of the former Betty K property, and said the DNP was hoping the Government would ultimately decide its publications building could be converted into a water taxi depot.

“We at the DNP saw that as being a terminal for taxis to go back and forth between downtown Nassau and Paradise Island. It makes the route shorter,” Mr Klonaris said.

“We need different modes of transportation to connect all these different areas. There should be three water taxi terminals downtown. We think water taxis will play an important role transporting people from the two major hotels back to downtown Nassau.”