The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Government plans to pursue grants, low-interest financing and strategic redevelopment initiatives aimed at accelerating downtown Nassau's revival while increasing opportunities for Bahamian ownership and entrepreneurship.

Glenys Hanna-Martin, minister of tourism, outlined a series of proposed initiatives during her contribution to the 2026-2027 Budget debate, arguing that downtown's transformation remains central to the broader tourism product.

"The revitalisation of Downtown Nassau has been talked about for a while," said Mrs Hanna-Martin. "The ‘Blueprint for Progress’ sets out a clear path. We will explore the feasibility of attracting investors, local or otherwise, hopefully local, for mixed-use developments that combine retail, residential and hospitality, so that there is life downtown around the clock."

Among the proposals is a financing programme intended to encourage investment by Bahamian entrepreneurs and property owners. "We will establish targeted grants and low-interest financing for Bahamian entrepreneurs and property owners to renovate buildings, invest and open businesses downtown," she said.

Mrs Hanna-Martin also revealed plans to use the Tourism Development Corporation as a vehicle for strategic redevelopment initiatives. "We will empower the Tourism Development Corporation to acquire and assemble underutilised land downtown for strategic redevelopment, with Bahamian ownership prioritised," she added.

The minister said the Davis administration also intends to continue removing derelict structures and repurposing vacant properties. "We will continue the systematic demolition of derelict structures, converting cleared sites into green spaces, pocket parks and public plazas," said Mrs Hanna-Martin.

Additional plans include upgrades to public infrastructure and the creation of dedicated spaces for Bahamian vendors and artisans. "We will introduce a downtown streetscape programme to upgrade lighting, paving, signage and landscaping along Bay Street," she said.

The Government also plans to establish "curated vendor markets and pop-up commercial zones" to provide Bahamian makers, food vendors and artisans with a permanent and organised presence in the city centre.

Mrs Hanna-Martin said the objective is to create a more vibrant downtown experience for both residents and visitors while ensuring Bahamians play a larger role in the economic opportunities generated by tourism and urban redevelopment.