The Tribune

Construction activity is ramping up at the $200 million Palm Cay project, whose first condominium offering is close to being 100 per cent sold.

The southeastern New Providence development said The Anchorage, introduced in July as its first condominium product, had received reservations for 11 of the 12 residences in Phase I pre-construction.

“It’s the three B’s of construction work,” said one contractor, who is among nearly a dozen at Palm Cay. “It’s beachfront, it’s breezy and, best of all, it’s so many Bahamian teams. It’s great working here.”

“We keep stressing that we are not building a project, we are building a community, and I think the contractors who are part of the team get it. They know they’re helping to create the Palm Cay community,” said Zachary ‘Zack’ Bonczek, director of sales and marketing.

“If the sights and sounds of hammers, drills and saws are signs of construction success, the other story of success lies in the growth that we are experiencing. Every single week we see more interest from people who want to be part of the Palm Cay lifestyle.”

Introduced as the community’s first condominium complex in July, 11 of the first 12 two-bedroom, two bath residences have already been reserved.

Those reservations will be converted to sales for qualified buyers in late September during a one-day event that will culminate in the awarding of contracts, with construction scheduled to start immediately following the signings. Three floor plans, with one and two-storey options, are available in the $319,000-$329,000 range pre-construction.

“I think people can see how much activity there is, and they know that this is a community that is coming alive before their very eyes,” said Mr Bonczek.

“Look, two tennis courts are nearly done. New boats are coming into the marina every day. The playground is under construction. The harbour master’s office and marina complex will be finished soon. Every aspect is on time or ahead of schedule.”

Palm Cay has also ramped up its social calendar. Friday evening happy hours are drawing close to 80 guests, and Saturday lunches catered by Chives at Palm Cay, along with family activities and water sports - from kayaking to beach volleyball - are becoming popular.

“Where else can you bring the family to swim, eat a great lunch, do yoga or get a massage on the beach, decide to take the boat out for a little fishing and return to clean and grill your catch in one afternoon at a residence with these amenities and this kind of beauty?” said Mr Bonczek.

“It’s like living in a resort, but it’s a real place. I may be a little partial, but it seems like a no brainer to me, and when you see all the construction, you know it’s real. This is a community rising.”

The 69-acre site is designed for 300 residences, via a combination of single family lots, townhomes, condos and marina cottages, plus a 194-slip marina and 1,500 feet of oceanfront - of which 1,200 feet are powder sandy beaches.

It is a fully investor-funded project, with a complete build-out plan by 2017. More than a dozen local firms are engaged.