The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

LONG Islanders yesterday called for greater “insight” into the proposed $500m Port St George project’s revival, describing its scale as “a bit overwhelming”.

Business community figures also queried why the Government, especially Cabinet ministers, were so silent on a development that has been valued by some in the media at $1.6bn, even though releases from the developers place the investment at half a billion dollars.

Romona Ritchie-Taylor, vice-president of the Long Island Chamber of Commerce, told Tribune Business: “I think it would be great thing for Long Island. The scale of it seems to be a bit overwhelming right now.

“The thing is, even if it happens in a scaled-down version, that would still be good for Long Island. I can’t say much more on it as to where the project stands other than what I have seen in the press.

“We would love to have greater insight into the project. We haven’t met with the principals but, hopefully in the New Year, maybe we will be able to set up something to meet with them and get a more in-depth idea of what we can expect.”

Mario Cartwright, a director of the Long Island Chamber, also told Tribune Business: “I only want good things for Long Island, and I don’t want to be negative, but you would think that a project of that magnitude - they’re saying $1.6bn - why is the minister of investments and the minister of tourism not talking about it? Are they being stand-offish? We need to know more about this development.

“This island is still lacking many vital services. We desperately need an international airport that can accommodate jet aircraft. We need other infrastructure to attract investment and increase our population.”

Adrian Gibson, Long Island’s MP, and Desmond Bannister, minister of works, recently met with the developers, who said initial work on Port St George could begin by the end of the 2019 first quarter.

Mr Bannister, though, subsequently told Tribune Business he had informed the developers to “come back and see me when you have a Heads of Agreement”. He described the meeting as “a courtesy call”, adding that he knew nothing about efforts to revive the Port St George development, which has been stalled for almost a decade, and did not discuss with the investors/developers whether they had started the process of applying for the necessary investment and planning approvals.

Mr Gibson, though, issued a much more upbeat What’s App message to his constituents on both the meeting and the development. “Today, minister of public works, Desmond Bannister, and I met with the developers - Duane Gerenser (president, Star Resorts Group); James Moss (principal and Board member); and Sean Callender (attorney)-- of the proposed Port St George resort project,” he wrote.

“In sharing their plans for the upcoming mixed-use resort (hotel rooms, luxury condos/villas), the developers spoke of their intent to embark upon a socially and environmentally sustainable project.

“We were advised that as the project gets underway, persons will be employed from the immediate locality (Long Islanders first), the wider Bahamas and, in instances where additional expertise is needed, internationally.”

Mr Gibson continued: “We were informed that initial works are projected to commence in the latter part of the first quarter of 2019. They stated that first phase of construction will see the dredging and development of the harbour/marina (640 slips); construction of 60 units; and the build-out of a soccer field, baseball/softball field, tennis court, a cricket pitch, the 18-hole golf course/golf club and a track. The developers further advised that, given the scope of the project, final completion would take four to five years.

“The developers shared their plans to re-route the Queens Highway; incorporation of alternative energy sources in their operations; construction of a Customs house, fire station, small medical facility, fuelling docks, a culinary institute......

“Moreover, they expressed a willingness to incorporate Bahamian/local entrepreneurs in their final project as well as the local community. Like many Long Islanders, we remain hopeful that such a project - which will no doubt improve and contribute positively to the state of affairs on Long Island - comes to fruition.”

When the Port St George project was unveiled in 2008, it was touted as creating over 300 jobs on a 951.4-acre site in northern Long Island. It featured plans for a boutique hotel with 146 suites/villas; 60 boutique villas; more than 300 residential lots and 331 multi-family lots; and marinas with numerous boat slips; plus golf courses, a town centre and other resort/community amenities.

The project was projected to have an annual economic impact of between $54m to $90m, and at the time the developers had also signed a 25-year management agreement with Langham Hotels International. Some 875 construction workers were forecast to be employed over the build-out phase.

Port St George, though, became a casualty of the 2008-2009 “credit crunch” and subsequent global recession, which dried up all potential sources of funding. In 2014 the original developers, Ian Moorcroft and his business partner, Jon Houghton, were said to be hunting for a joint venture partner to move the proposed $110m development forward.

Nothing was heard subsequently until Star Resort Group issued a press release several months ago detailing its efforts to revive Port St George. Clairfield International, which advertises itself as “mid-market” mergers and acquisitions specialist working on transactions up to 500 million euros in value, was said to have “arranged funding”.