The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News : International Last Updated: May 7, 2015 - 7:57:38 AM


Walker's Cay purchase approved by Bahamas Investment Authority
By AlphAcre.com
Aug 4, 2010 - 10:36:04 AM

Email this article
 Printer friendly page

CayWALKERsLOGO.JPG
ATLANTA – AlphaCRE announced today the endorsement by the Bahamas Investment Authority (BIA) for the purchase and redevelopment of Walker’s Cay, the 69-acre island in the Bahamas’ Abacos chain.  In a letter issued Thursday, July 29, 2010 by Viana L. Gardiner, the executive director of investments of the Bahamas government investment department, authority has been granted paving the way for the purchase of Walker’s Cay on October 26, 2010, and its subsequent return as a superlative fishing and diving destination.     

 

Known as the world-class deepwater fishing and diving playground for former U. S. presidents as well as the rich and famous, Walker’s Cay was closed in 2004.   Off-shore developers, Victoria House IBC, submitted a comprehensive proposal for Walker’s redevelopment at an undisclosed purchase price to the BIA including a site plan, work force requirements, environmental improvement opportunities and income sources.   With a further commitment to build all structures to state-side commercial and residential construction codes, provide overarching island insurance by an international broker, and add a minimum of 200 jobs to the resurging Bahamas economy, the Bahamian government saw this well-planned proposal as a gateway to employ workforce, offer unparalleled services and improve the Bahamas brand.  

 

“The developers have created a solid plan for Walker’s Cay reemergence,” says Scott French – president, AlphaCRE and broker for the sale, “Combined with a top-shelf professional team to redevelop Walker’s Cay, I have every belief in continuing the legend of Walker’s Cay for generations to come.”     The team, which includes U.S.-based Coleman Talley, EOS Marketing & Communications, Loggerhead Marina management and Landry Design as well as Bahamas-based Regional Air, is currently developing an advisory board of VIPs and former Walker’s Cay aficionados.   Additionally, EOS is facilitating focus groups throughout the eastern United States with former Walker’s Cay fishermen and divers.  

 

The initial plans approved by the BIA for the casually elegant vacation and residential paradise include:

·    Two hotels offering 100 rooms and a five-diamond resort spa,

·    26 bluff lots

·    18, .50 acre beachfront properties for coastal and cay-facing cottages,

·     28 condominiums nestled above 60,000 square feet of a retail boardwalk and 10,000 square feet of office space along the resort’s promenade,

·     48 dry stack storage slips – built according to south Florida’s stringent hurricane construction codes,

·     258 wet slips within a marina that can accommodate vessels from 30 to 150 feet,

WALKER’S CAY PURCHASE APPROVED BY BAHAMAS INVESTMENT AUTHORITY

Legendary island under contract by off-shore buyer


·      Yacht club, complete with alfresco dining, poolside bar, comfort stations, fueling and a ship store,

·      2800 foot runway capable of accommodating twin-engine planes of a private, commercial or charter nature,

·      On-island customs and immigration at the Walker’s Cay airfield and marina.

 

Properties will be available for sale immediately post closing.  

 

About AlphaCRE

AlphaCRE is a land acquisition and commercial real estate firm based in Atlanta, Georgia.   The firm works with clients to identify knowledgeable and workable real estate solutions custom designed to fit each circumstance, especially during complex and challenging economic cycles. For more information, visit www.alphacre.com.


Bookmark and Share


© Copyright 2010 by thebahamasweekly.com

Top of Page

Receive our Top Stories



Preview | Powered by CommandBlast

International
Latest Headlines
OAS Proposes Mechanisms for Dominican Republic-Haiti Dialogue and Support for Displaced Persons
Update: Search for missing Jupiter teens continues
Northern Caribbean Program of the Nature Conservancy calls on Bahamas Ambassador to the United States
PM Delivers Key Note Address at CANTO in Miami, Fl
Caribbean-Canada Emerging Leaders’ Dialogue Co-Chairs Announced
RBPF Sr. Lt. Anthony Bowe participates in Caribbean Defense and Security Course
Norland Post Office Dedication to Honour Bahamian Descendant Father Marquess-Barry
Members of the RBPF Participate in Forensic Firearms Examination Course
Quotable Caribbean: Rajesh Rao, Esther Kia'aina, and more...
Bahamas given Tier 1 Trafficking in Persons ranking
NASA’s New Horizons Team Finds Haze, Flowing Ice on Pluto
Civil Society Bahamas (CSB) Represented at the Bahamian-American Association in New York City, USA
Bahamas Consulate in Atlanta Hosts Independence Celebrations
Kareem Mortimer and CARGO included at first Caribbean Film Mart
COB Students Celebrate 3rd Place Finish in Caribbean Students Colloquium
PAHO/WHO Director Encourages Strong Action To Advance Health For All
Joint Communiqué - 3rd Meeting of the Joint CARIFORUM-EU Council
Bahamian Shares Country's Culture In China‏
19th African American Hotel Owners & Investment Summit kicks-off in Miami
PAHO/WHO and Bahamas gov't engage national stakeholders in dialogue on universal access to health coverage
Quotable Caribbean: Perry Christie, Paul Pennicook, Moses Kirkconnell and more...
NASA's Three-Billion-Mile Journey to Pluto Reaches Historic Encounter
Genesis Junkanoo performance highlights Bahamas Independence celebrations in D.C.
CARICOM Leaders Served Cassava-Based Dishes at CARICOM Heads of Government Summit
Miya signs water efficiency project estimated at $42.5M in Jamaica
OAS Deploys Mission to Assess Situation of Haitian Migrants
Bahamian Independence Message by US Secretary of State John Kerry
Popeyes to Celebrate with The Bahamas for Independence Day Festivities in Atlanta
Ambassador Newry Ends Chairmanship of the Caucus of CARICOM Ambassadors
Caribbean entertainer to launch website/app for talent in the U.S
Quotable Caribbean: Karen Whitt, Frank Comito, Bonita Morgan, and more...
Bahamians attend 23rd Annual Caribbean International Festival of Life
Changing the International Perception of the Caribbean from Tourism
Young Bahamians Conversation Series continues at Embassy of The Bahamas
Fred Mitchell addresses St. Mathew's Church in Delray, Florida in observance of the 239th US Independence‏
Bahamian is Panelist at Film Festival Event in China‏
RBDF Rangers Band perform in Rhode Island, USA
Fisher lady of Punta Gorda, recognized as CRFM Fisher of the Year
Bahamas High Commission to Host Passport Clinic in Toronto July 22-24
WHO validates Cuba’s elimination of mother-to-child transmission of HIV and syphilis