On Monday the Government signed a Heads of Agreement for Legendary Marina Resort at Blue Water Cay, an oceanfront community for southeastern Nassau that will include a 120-slip marina, 20 condominiums, 22 oceanfront villas, and a 130-room hotel.
With capital expenditure of US$110 million, this development will be valuable economic catalyst, providing up to 200 jobs and an estimated $158 million in additional government revenue over the next 25 years.
“The mixed-use oceanfront community will encompass a 120 slip marina, a dry storage facility, marina village, clubhouse, restaurants, retail and residential components including 20 condominiums, 22 ocean front villas and a 130 room hotel,” Prime Minister Phillip Davis explained during the historic signing. He added that the project will create up to 200 jobs for Bahamians and generate $158 million in additional revenue for the government over the next $25 years.
Peter Bos and William Pizzorni, Legendary Development’s co-founders are behind the project.
“This project is more than just a development. We have got a lot of developments, thousands and thousands of residential units, golf courses etc. This is special,” Mr. Boss said. “This is a project dear to my heart. It is something I think will make everybody bring more tourists to the island who can enjoy and see the other islands and overall expansiveness of The Bahamas.”
Phase I is expected to break ground this summer with an 18-20 month construction schedule.