Since the announcement that The Bahamas had been chosen for a multibillion-dollar development, some persons have expressed concerns that the project, named MOON Bahamas, could ever happen.
So Michael Henderson met with sections of the Bahamian media on Wednesday afternoon to introduce the project as much as to introduce himself to the country.
Mr. Henderson, an Irish Canadian who lives in Vancouver and describes himself as a marketer, said his project has been five years in the making.
Last year he traveled to Las Vegas to announce the project. The media said that the MOON project was going to be built on a 250-acre plot and then nothing else was heard, a point that exercised one perennial letter-writer who, without any evidence beyond his opinion, has decided that the project is no more than ﾓmoldy cheeseﾒ.
Mr. Henderson said that the project is architecturally and design driven and explained why islands have to be built rather than building on pre-existing land.
ﾓHotel and resort architecture is dull especially in the U.S.,ﾒ Mr. Henderson said. ﾓWhen we took our project to Las Vegas, we learned that the surrounding buildings would detract from the resort and it could not be seen to its best advantage.ﾒ
ﾓIt convinced us that the MOON project needed its own environment to be appreciated,ﾒ he said. ﾓThe other fact we learned was that our idea was not as crazy as it sounded. During the time in Las Vegas we had a full model of the project and invited the media and approximately 4,000 people to walk in and respond to it. We discovered that people do have an affinity for the moon and the overwhelming response was positive.ﾒ
Realizing that his project needed a particular, setting Mr. Henderson and Managing Director Sandra G. Matthews began looking for possible sites. Their odyssey took them around the world, including the Palm, Dubai.
ﾓWe had heard about the Palm and traveled to Dubai, in the UAE (United Arab Emirates),ﾒ he explained, ﾓand stayed for six months. You have to live there to understand what they are doing and it is truly an amazing project.ﾒ
Asked why he did not stay, Mr. Henderson said that gaming is not allowed in Dubai and since his project included the worldﾴs biggest casino, it could not be built in Dubai. It was then on to Thailand where a site was discovered, which was ideal but like Dubai, Thailand does not allow gaming, though according to Mr. Henderson the government has plans to make gaming possible.
It was while he was in Thailand that Mr. Henderson received an email and subsequent emails and telephone calls telling him ﾓhe would be crazy not to put the project in The Bahamas.ﾒ
ﾓI kept getting these email and telephone calls and eventually answered them and met Gerry Wirth,ﾒ he said.
Mr. Wirth had seen the project online in January of this year and began lobbying to get the project here. Mr. Wirth is the Bahamian Representative for the MOON Bahamas project. He is joined by Gilbert Morris and Associates, whose principal, Dr. Gilbert Morris, was introduced to Mr. Henderson by Mr. Wirth.
Gilbert Morris and Associates is the Economic Impact Consultants for the project. Mr. Henderson confirmed that the economic impact study being undertaken by Gilbert Morris and Associates is the largest of its kind undertaken for a resort.
After visits to The Bahamas they finally settled on Grand Bahamaﾴs north coast. Describing the Grand Bahama Port Authority as one of the ﾓbest private companies he had dealt with,ﾒ Mr. Henderson said that a combination of factors ﾖ infrastructure, an airport, the people and Grand Bahama Port Authority ﾖ convinced him that Grand Bahama was the ideal location for the MOON project.
Asked about the projectﾴs size and uniqueness, Mr. Henderson, who describes himself as a ﾓlittle guy with a big ideaﾒ, noted that similar skepticism always accompanies large, new projects.
ﾓPeople also doubted Walt Disney and I am sure when Sol Kerzner arrived in The Bahamas there were those who did not think it would happen but he is now on Phase 3,ﾒ Mr. Henderson said.
ﾓWhat Sol Kerzner has done here in The Bahamas is brilliant,ﾒ he continued. ﾓHe has done wonders for The Bahamas and lead the way. He has proven that it can be done and I am grateful to him.ﾒ
Funding for the resort portion of the multibillion-dollar development is being under written by a syndicate lead by a ﾓbig New York bankﾒ, which Mr. Henderson declined to name.
ﾓWe are still in negotiations and I am traveling to New York tomorrow (Thursday) to continue negotiations with them,ﾒ he explained.
Further funding will come from the real estate portion of the project. He said that the real estate portion of the project will be marketed globally and will be open to Bahamian realtors also.
ﾓWe have retained the services of FPD Savills of London and Jones Lang La Salle in Chicago as the real estate consultants,ﾒ he explained. ﾓI have told them that we want everybody to know about this project. It is a global effort. The Palm was sold out in four days. It can be done.ﾒ
Money from the sale of the real estate will fund development of the condominiums and repay the $4.5 billion syndicated loan for the resort portion of the development.
Ms. Matthews explained that the condominium portion of the MOON project would be turnkey project.
ﾓWe are providing a fully furnished and well appointed condominium that includes an electric cart along with all the other amenities,ﾒ she explained.
Mr. Henderson, who says he has already met with some Cabinet ministers, is hopeful of an early green light from the government so that the necessary preliminary studies can be undertaken.
C. E. Huggins, The Bahama Journal
