The planned $35 million expansion of the Pittstown Point Landings resort was yesterday described as "immensely important" to Crooked Island's economy, with the developers set to market townhouse units and a 25-lot subdivision to both Bahamians and tourists.
Allyson Maynard-Gibson, the minister for financial services and investments, told the Tribune it was "really all systems go" on the development, which plans to upgrade the resort, extend the airport runway to 3,500 ft from its current 2,000 ft and contract a 60-slip marina.
She added that for Crooked Island, it was the equivalent of a $100 million investment on New Providence.
The first barge bringing construction equipment to Crooked Island for the development is expected to arrive on November 29.
The resort developer, Pittstown Point Landings, which is owned by two Americans, will provide a further boost to the island's construction industry by building 18 townhouses divided into three buildings and a 25-lot subdivision.
The developer plans to invest $35 million in total capital expenditure, with some $15 million of this invested immediately. The final $20 million will be invested in the development of the residential subdivision.
Mrs. Maynard-Gibson said the developers planned to market the townhouses and subdivision to both potential Bahamian and international buyers, employing the latest in electronic marketing technology.
Describing their plans as "really taking marketing to a different level in The Bahamas," Mrs. Maynard-Gibson said, potential buyers would be sent computer discs that featured interactive displays, so consumers could see how the interior of the homes would look.
An Environmental Impact Assessment on the proposed cevelopment has already been reviewed and agreed by the Bahamas Environment Science and Technology Commission (BEST). Officers from the commission will monitor construction works, particularly those relating to the marina, while restoration of the Bird Rock Lighthouse will be carried out under the direct supervision of the Antiquities, Monuments and Museums Corporation.
The Pittstown project is expected to provide direct employment for 30 persons when completed and most work is expected to be finished within the next three years.
By Neil Hartnell, The Tribune
