International Walker's Cay purchase approved by Bahamas Investment Authority
Aug 4, 2010 - 10:36:04 AM
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.
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
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.
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
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
Additionally, EOS is
facilitating focus groups throughout the eastern United States with former
Walker’s Cay fishermen and divers.
initial plans approved by the BIA for the casually elegant vacation and
residential paradise include:
hotels offering 100 rooms and a five-diamond resort spa,
.50 acre beachfront properties for coastal and cay-facing cottages,
condominiums nestled above 60,000 square feet of a retail boardwalk and 10,000
square feet of office space along the resort’s promenade,
dry stack storage slips – built according to south Florida’s stringent
hurricane construction codes,
wet slips within a marina that can accommodate vessels from 30 to 150 feet,
WALKER’S CAY PURCHASE APPROVED BY
BAHAMAS INVESTMENT AUTHORITY
island under contract by off-shore buyer
club, complete with alfresco dining, poolside bar, comfort stations, fueling
and a ship store,
foot runway capable of accommodating twin-engine planes of a private, commercial
or charter nature,
customs and immigration at the Walker’s Cay airfield and marina.
Properties will be available for
sale immediately post closing.
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, visitwww.alphacre.com.