Local Realtors are welcoming an exciting new development on Paradise Island that will add to the island's world famous reputation as one of the most coveted locations in the world.
Ground was broken last month on the Sterling Hurricane Hole Community Resort and Marina in a special ceremony attended by the country's top real estate representatives, business leaders and senior government officials.
"Sterling Hurricane Hole will enhance Paradise Island's international reputation as a premier destination, " Prime Minister the Most Hon. Dr. Hubert Minnis said at the ground breaking ceremony.
Sterling Hurricane Hole, a major redevelopment of the existing 13 acre Hurricane Hole Marina, is the brainchild of Mr. David Kosoy, the chairman of Sterling Global Financial. The property offers unique 'Live Work Play' lifestyle.
The development represents a $250 million boost to the local economy and is a welcome addition to Paradise Island's treasury of luxury brands, such as Atlantis and Four Seasons.
The redevelopment encompasses residential, retail, professional office space and a renovated marina, and will take place in three phases.
The first phase is expected to be completed and ready for occupancy by June 2020.
It includes repairs to the existing 90 slip Hurricane Hole Marina, the construction of 16 residential units, 15,000 square feet of office space, 20,000 square feet of convenience commercial retail and two restaurants.
The second and third phases will include the construction of 50-70 residential units and town homes, respectively.
Sterling Hurricane Hole is perfectly located within walking distance to restaurants, shopping and the Atlantis resort in an idyllic island setting.
Sterling Global is already developing the new high-end condo development ThirtySix on Paradise Island; Beach House Villas, also on Paradise Island; Courtyard Marriott, downtown Nassau; and Ocean Terraces on West Bay Street.
It is also considering major Family Island developments on Abaco and Eleuthera.