A US-based developer has received government approval to build a luxury development in the Bahamas that includes a superyacht marina.
The Tribune Business report said that US investory John McGarvey was given “full approval” by the Bahamian government to purchase February Point in the Exumas for US$8.2m. The paper said in September that McGarvey’s company plans to spend US$40m to develop February Point on Great Exuma.
Thomas Dean, a Freeport-based attorney representing McGarvey, said the development would create 140 construction jobs. “This will revolutionise the Great Exuma, Georgetown area and have knock-on and beneficial effects for the Central Bahamas, as it will create Georgetown as a mini-mecca in the centre of paradise,” Dean told the paper.
The original plans, which called for a residential development, will now become “mixed-used”, including transitioning the existing marina at February Point into a megayacht marina.
The paper said McGarvey wants to attract superyacht clientele. The story also noted that the group wants a ‘Georgetown Marina Village’ that resembles Atlantis Marina Village and Freeport’s Port Lucaya.