NASSAU, BAHAMAS — A top Disney executive yesterday affirmed the company’s commitment to Eleuthera, describing its Lighthouse Point project as a great complement to Castaway Cay in the Abacos.
Thomas Mazloum, president of Disney Signature Experiences, while speaking at the virtual Eleuthera Business Outlook, noted: “It has truly been a hard year for everyone. The impact of this pandemic has been felt very deeply in Eleuthera and other areas of The Bahamas.
“Disney’s commitment to Eleuthera has never wavered during these very difficult months, even as our ships didn’t sail from the US for a year and a half.
“Disney is more committed to ensuring your community adapts and maintains growth and prosperity.”
He added: “We believe the Lighthouse Point destination will create sustainable opportunities. We see it as a great complement to Castaway Cay in the Abacos.”
Kim Prunty, Disney’s vice president of public affairs, while giving an update on the Lighthouse Point project, said: “Due to pandemic-related delays, we are hoping to have all approvals in place to begin in late 2021 and pending those approvals, we hope to be able to open in the first half of 2024.”
Prunty noted that the company’s plans call for less than 20 percent of the land to be developed, with the remainder to be either donated or left untouched. She further noted that the company expects the development to cost between $250 million and $400 million because of the company’s commitment to the environment.
The project is expected to create at least 120 construction jobs, of which 80 percent will be Bahamian, and at least 150 jobs on the operational side.
Prunty noted that up to this point, the company has submitted an environmental impact assessment (EIA), held public consultation and submitted a public consultation report.
“Recently, the Department of Environmental Planning and Protection asked us to move into the environmental management plan. Once that plan is complete, it will be reviewed and ultimately the goal is to receive a certificate of environmental clearance,” said Prunty, who noted that the current design now calls for 90 percent renewable energy.
An Oxford Economic study estimated that the project would provide an $800 million increase in GDP and more than a $355 million increase in government revenues, which exceeds any concessions, according to Prunty.
Disney is working with the firm American Bridge, which developed Castaway Cay, as design/builder.
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