Eleuthera Properties Ltd., led by businessmen Franklyn “snake” Wilson and Albert Sands, plans to redevelop the Cotton Bay Club, which was once viewed as one of the worldﾒs finest resort destinations.
The investors say the legacy of Cotton Bay will be reborn with the introduction of the first phase of a 1,500-acre resort community development, Sea Shells at Cotton Bay.
The group has already submitted to the Ministry of Works an application for the approval of the first subdivision, which will be a part of the development, according to Mr. Wilson.
In addition, it has retained a world-renowned architect firm to partner with Bahamian architects to create a clubhouse and villas. The firm is the same one retained by Kerzner International for its $1 billion Phase III development.
The development will comprise 114 estate lots, nestled into 220 acres of unspoiled vegetation, and will blend into the environment by adherence to stringent architectural and landscape standards, according to the developers.
The focal point of the community will be The Sea Shells Club, a 69-room boutique hotel, based on a villa concept. The clubﾒs special features will include a restaurant, lounge, gaming room, retail space, a great room, conference room, infinity edge swimming pool, water features and concierge services.
The development will employ 250 Bahamians during its first phase, which will cost $100 million. The investors have committed to using Bahamian contractors in all phases of the project.
Prime Minister Perry Christie vowed that his government will wholeheartedly support the promotion of Eleuthera as a prime tourist destination.
The project is not without its detractors. Mr. Wilson’s checkered business past has earned him the nickname “snake”. He has amassed a fortune engaging in, what some say, are questionable business practices, allegedly taking advantage of the controversial Quieting of Titles Act to reportedly “grab” land from widows of Bahamians and foreign women.
Mr. Wilson was also an MP in the corrupt “Pingdomite” empire. The Bahamas, at that time, was led by disgraced former Prime Minister Lynden Pindling whose close relationships with financial fugitives such as Robert Vesco, and drug dealers such as Carlos Lehder, caused the ruin of The Bahamas’ international reputation.
Many Bahamians are concerned when people with seemingly shallow ethics live high-profile lives. It poisons the minds of young adults by sending the wrong message, making them believe that ethics are a disposable part of today’s business environment.
