The Bahamas Announce Agreement for Treasure Cay Revitalization
ABACO, Bahamas, Sept. 16, 2024 /PRNewswire/ -- GreenPointe Holdings, a Jacksonville, Florida company with strong ties to Abaco, Bahamas, has entered into a Heads of Agreement approving the purchase and redevelopment of Treasure Cay. This announcement was made today by Bahamian Prime Minister Philip Brave Davis and Edward E. Burr, the Chairman and CEO of GreenPointe Holdings, on the heels of Hurricane Dorian's fifth anniversary. The Category 5 hurricane devastated the island of Abaco, including Treasure Cay on September 1, 2019.
GreenPointe Holdings' plans to revitalize Treasure Cay as a community featuring single family homes, condominiums and villas, an 18-hole championship golf course, a beach club including restoration of Coco Beach Bar and Grill, a 175-slip marina, a retail marina village restoring the famous Tipsy Seagull, racquet club with tennis and pickleball, and a wellness retreat, spa and fitness facility.
The development efforts also feature a commercial center to include essential services which have been lacking since the hurricane.
The project investment will be approximately $1.5 Billion and is expected to break ground in 2025 with the first phase projected to open 2027. The economic impact and job creation projections are expected to be enormously impactful to the island of Abaco.
"Revitalizing Treasure Cay goes beyond reconstruction; it's about reigniting a beloved way of life that started in the 1960's," said Mr. Burr. "Treasure Cay has long been the economic engine of North Abaco, and the people deserve to see their community restored to the vibrant place that was once enjoyed by so many."
Prime Minister Davis said, "GreenPointe Holdings is the ideal partner for this redevelopment because of their deep-rooted connection to Abaco and their proven history of delivering impactful projects. Their vision aligns with our government's commitment to not only rebuild what was lost, but to create a stronger, more resilient community that offers new opportunities for generations to come. This revitalization of Treasure Cay marks a significant step forward in our journey of recovery, and I am confident that together, we will restore the heart and spirit of North Abaco.
For more information, visit TreasureCayAbacos.com. Full Reference Article.
