The government broke ground on a $120 million condominium hotel at the old Gold Blossom Estate on West Bay Street Wednesday, which is expected to spur economic development through the creation of hundreds of construction and permanent jobs.
The project, which Canadian-based real estate conglomerate Wynn Group is touting as a compliment to the Baha Mar, will also include the beautification of Goodman’s Bay.
Described as an architectural masterpiece, the project is expected to create 300 construction jobs and 175 permanent jobs when completed sometime in 2020.
At the groundbreaking ceremony on Wednesday, Prime Minister Dr Hubert Minnis said, the upscale boutique beach front development – The Residences of GoldWynn – will bring millions of tourists to our shores.
However, he said as more persons come to the country, we need to be able to offer more cultural experiences.
“The developers are committed to a beautification plan for Goodman’s Bay. We need to offer more cultural and heritage experiences,” Dr. Minnis said.
“In New Providence we will need to revitalize Downtown, Nassau, build a national museum and in due course, construct a native food market and other initiatives … Today we break the ground for development which will help to further transform Cable Beach.
“The development will operate under the Kimpton Hotel and Restaurant brand, and will be managed by Small Luxury Hotels. The five-storey GoldWynn promises to be: ‘an architectural masterpiece of contemporary architecture’. The estimated cost of this project is $120 million. Construction will begin this July and is scheduled for completion in December 2020.
“The developer has agreed to a training and apprenticeship programme for employees. This will be done in collaboration with the Ministry of Education and BTVI, which will facilitate the development of various skills. The developer has also agreed to sourcing and using local agricultural and other products.”
CEO of Wynn Development Paul Wynn said, after four long years, he is excited to the see the project finally begin.
“It’s been a passion for us and perseverance over four long years. We are looking to do many more developments in this country and we love the people and we love the country. We hope it will be opened in late autumn 2020,” Wynn said.
Deputy Prime Minister Peter Turnquest said it is a good day for the country.
“This is in line with our expectation of economic growth, as this is a project that will help sustain and support growth . We are excited about the new offering this project will bring, the careers that will arise as a result of it and the overall addition to the tourism product in Nassau,” Turnquest said.
The four-storey condo hotel will also offer 23 residences, a fitness centre and spa, beach front infinity pool and a roof top restaurant.