The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Hurricane Hole’s developer yesterday estimated its near-$200m investment to-date has likely created “around 300 jobs” while helping to renew Paradise Island’s attraction as a residential location.

Khaalis Rolle, Sterling Global Advisory’s president, told Tribune Business that the renamed Paradise Landing is generating “renewed appeal” for upscale homeowners by providing the retail and office options they desire following the recent opening of the project’s supermarket.

Noting that the presence of Sawyer’s Fresh Market, the island’s first grocery store in many years, is already attracting and driving foot traffic from the hotels, residents and nearby workers, he voiced optimism that Sterling Global has thus far succeeded in its ambitions to create “a downtown Paradise Island” with more to come.

Mr Rolle, recalling that Sterling had pledged to invest $250m when it first started the former Hurricane Hole site’s redevelopment on Paradise Island’s southern shore, told this newspaper that it “very shortly” plans to commence construction on the final phase which represents “the balance” of its residential units.

And, with Sawyer’s Fresh Market now open alongside a nearby 700 Wines and Spirits outlet, the former minister of state for investments said Sterling has created “a destination boaters will love” as they will find a “one-stop shop” for all their charter provisioning needs at what he described as “the most modern marina in The Bahamas”.

With the supermarket further boosting Paradise Landing’s amenities following its September 5 opening and a clinic set to open on-site within the next 45 days, Mr Rolle told Tribune Business: “When we started this journey we wanted to create a downtown Paradise Island, and this [the supermarket opening] is giving a renewed appeal to the development.

“We think it’s going to add so much value to Paradise Island. We’re seeing the traffic, particularly the foot traffic, coming from the hotels and especially the residents and people that work over here have supported the supermarket. We are very excited about what is taking place here.”

Mr Rolle said Paradise Landing’s next additions will be restaurant openings. The $10m Chicago-themed Carnivale Bahamas eatery said in July it was anticipating a September 2024 construction completion with 75 percent of the work already done.

“There’s the restaurant, Carnivale, and they are making significant progress on construction,” he added. “We’re looking out the window and seeing more of the landscaping going in, and when the landscaping is going in you know they’re close to completion. They’ve just got a little ways to go.”

Noting that Paradise Landing was the first new mixed-use real estate, resort and marina development to occur on Paradise Island for years, Mr Rolle said the project had renewed and revitalised the destination as a whole.

“Revitalising the destination has been a priority of ours,” he added, “and I think we’ve done it successfully over the last few years with the opening of the marina, opening of 700 Wines and Spirits, with a doctor’s office and clinic as well as a wellness centre. The wellness centre is open already and the clinic we think will be open in another 45 days.

“We’re in the home stretch for the commercial, retail, office and the amenities. We still have the last phase, which will be the balance of the residential, starting very shortly. Honestly, this has been a tremendous asset and addition to Paradise Island. For a long time people were moving away from Paradise Island simply because it did not have all the retail and commercial office options.

“Now that we are providing that, we are seeing a lot of interest in Paradise Island because of it. I have to get an update on the numbers, but I’m sure it’s more than a couple of hundred jobs. We are comfortable we are probably around 300 jobs across the whole campus, the whole facility,” Mr Rolle continued.

“When we initially started we said we’d be around a $250m investment. We are very close to possibly $200m. It’s been lots of hard work, and we’re beginning to see the impact not only on Paradise Island but tourism in general and the marina business.

“Although the marina business has generally taken a hit, we’ve been fortunate that our product offers the most modern amenities in marinas in The Bahamas.” Mr Rolle asserted that Paradise Landing’s marina is the only such facility in Nassau to provide “in-slip fuelling”, adding that visiting boaters can access all supplies that they need.

“This is a destination boaters can love because they can get their provisions. We have 700 Wines and Spirits where they can get their alcohol. If it’s a big yacht being used for charter business, we are a one-stop shop. You can pull into your mooring and get everything you need as a charter operator.

“I can’t give you an exact figure for the economic impact, but I would say it’s tremendous given the services we provide, particularly the services to yachts, residents and the office spaces for tenants. We did everything we said we were going to do and did it on time.”

The 8,000 square foot Sawyer’s Fresh Market store will be providing dockside provisioning or pre-ordering for visiting boaters, and plans to launch a delivery service for Paradise Island residents in the near future. The $7.5m store was billed as creating 75 full-time jobs when construction launched more than two years ago in August 2022.

“It’s a full grocery store, boasting everything from high-quality produce, gourmet treats and premium meats from our butchers’ department to a bountiful deli with plenty of grab-and-go options. Organic and popular brands will be featured, and shoppers can expect a surprising assortment of products and options,” Hurricane Hole Marina said in its blog posting.

“An e-commerce site [is] set to open early next year. In the meantime, a new method of pre-ordering or requesting the inventory for dockside provisioning is available through the Hurricane Hole Superyacht Marina website. Delivery on Paradise Island will also be available in the near future.

“The highly-anticipated opening marks the first time that the Sawyer’s Fresh Market brand has expanded outside of Freeport, where it’s long been a premier staple of the community.”