NASSAU, BAHAMAS – Government has agreed in principle to lift downtown Nassau’s height restrictions which would accommodate condominiums and residential properties in the downtown area, according to Downtown Nassau Partnership (DNP) managing director Ed Fields.
Fields was speaking at a Nassau/Paradise Island Promotion Board (NPIPB) press conference at the Caribbean Hotel and Tourism Association (CHTA) Marketplace yesterday.
He noted that within the next two to three years there will be ‘major transformation’ in the downtown area.
Fields said: “There are a couple of properties that need to be negotiated but all properties where the government was involved have been negotiated and approved by the government.
“We also have secured all the seabed leases and to some extent we have an agreement in principle from the government to lift the restrictions on building heights which will accommodate condominiums and residential properties downtown.”
Fields pointed to the development of the new $300 million US embassy and the new Central Bank as some of the projects which will transform the downtown district.
“We have plans, the DNP, to develop or refurbish the central park for downtown- the Clifford Park area. We are just waiting to complete the MOU with government. That will be a privately funded project,” he said.