As the election season gets into full swing, activity is finally happening at the long dormant Grand Lucayan resort in Freeport, Grand Bahama.
Concord Wilshire Capital announced yesterday that demolition activities have commenced at the Grand Lucayan resort.
In a statement, Concord Wilshire, the parent company of Ancient Waters Bahamas Limited and owner of the Grand Lucayan resort, said the demolition is part of the redevelopment of the property into a premier MSC Beach Club
“Initial demolition efforts began today with the securing and fencing of the property, following the receipt of all required demolition permits,” it said.
“These early-stage activities mark a significant and visible milestone in advancing the long-anticipated transformation of the Grand Lucayan resort site.”
The activity comes nearly a year after the company signed an agreement to purchase the property from the government.
“The commencement of demolition represents the first tangible step in activating the long-awaited revitalization of the Grand Lucayan Resort, a portion of which will be developed into a world-class MSC Beach Club, along with a second Cruise Ship Resort, a casino, a mega yacht marina and a branded hotel” said Richard Bosworth, CEO of Ancient Waters and Concord Wilshire Gaming Group.
“This moment signals the transition from planning to execution and reflects our continued commitment to delivering a project that will have a meaningful and lasting impact on the local economy.”
Concord Wilshire’s statement yesterday once again suggested that the deal with the government for the $120 million purchase of the resort, announced last May, has concluded, referring to itself as the owner of the Grand Lucayan.
The Davis administration has yet to announce that it received any money from Concord or that the deal has been finalized.
In Concord’s statement, Prime Minister Philip Davis said, “This commencement of demolition, marks an important step forward in the revitalization of Grand Bahama. The redevelopment of the Grand Lucayan represents a meaningful investment in our nation’s future, creating jobs, strengthening our tourism product, and reaffirming our commitment to economic growth and opportunity for the people of The Bahamas. The very significant involvement of MSC in the Lucayan project with its vast resources and proven long-term commitment to The Bahamas is a strong manifestation of its confidence in the economy of Grand Bahama and The Bahamas.”
The timing of activity at the long dormant resort also coincides with the election.
Davis has announced that the general election is set for May 12 and no doubt the government hopes that activity at the property will help convince voters on the island to reelect the PLP to office.
