The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A $10 million ‘upscale’ entertainment venue proposed for western New Providence has been attracting several “power hitters”, one of its principals telling Tribune Business yesterday that investors could certainly expect a “handsome” return on their capital.

Ellis Peet Jr, a partner in TFG Company, said the Encore development had been receiving significant interest since the group went public with its plans about a month ago. The complex, which is expected to be completed by the 2014 third quarter, will be financed via a private placement and VIP membership pre-sales.

“All things considered it has gone very well,” said Mr Peet. “We have only been in the public arena for about a month. To-date we’ve gotten some financial commitments from investors and we’re having meetings all the time. We’ve been getting some power hitters, some relationships are being fostered that we are not yet at liberty to disclose. We’re proceeding cautiously but we are very excited.”

From construction to completion, the complex is expected to generate 300-375 jobs. The proposed 45,000 square-foot centre will be a green-design facility using high-efficiency equipment and LED lighting, with emphasis placed on indoor air quality.

Encore will also contain provisions for power stations for electric vehicles and golf carts, as well as bike racks for bicycles. The all-inclusive facility will offer an entertainment and dining experience along with other amenities, while its design, according to Mr Peet, will help keep operational costs to a minimum.

”It’s all about the experience, the good food and the technology. Encore is about creating an environment that Bahamians can be proud of. When we think of Encore, like the name suggest, we want to create an atmosphere. That is work, family and friendly. We can promise our investors that they will get a very handsome return on their dollars because of all the things we have taken into consideration,” Mr Peet said.

Explaining the facility’s overall layout, the project’s architect, Marcus Laing, who was a guest speaker at the Rotary Club of West Nassau, told Tribune Business: “The ground floor has the general theatre areas, Curve wine lounge, the entry lobby and two private meeting rooms.

“The second floor will be the entire VIP floor, holding the VIP lounge, which seats about 60 people, the VIP covered outdoor veranda, the reserve wine collection and the sky boxes in each of the theatres at that level, two private meeting/dining rooms and small multimedia cubicles. There’s also the roof top terrace, which can hold 300-350 people.”