News

Island Living Real Estate Expands: New Agent Calls for Low-rise Condos to Boost Eastern District

Published

10 years ago

November 3, 2014

Nassau, 3 Nov 2014 – One week after Kerryann Pearce settled in to her new post as an estate agent at Island Living Real Estate headquartered on East Bay Street, she popped up with an idea likely to stir strong opinions for and against, but one she believes will give one of Nassau’s most established districts, Eastern Road, the shot in the arm it deserves and the market it needs.

The East, she says, has a lot to learn from the West.

“The success story in New Providence real estate for the past decade has been west from the near side of Cable Beach all the way to Old Fort Bay and Albany,” said Pearce. “There is a lot we can learn from what drove sales there and — the demand for attractive condominium living. People want more security and less maintenance.”
Now, she says, it is time to take those principles of lifestyle to the eastern side of the island, and in particular, to areas of Eastern Road which she suggests should be re-zoned from single family residential to multi-family.
“The East is beginning to show signs of resurgence,” said Pearce. “Eastern Road and its side streets have so many positive things to offer — close to schools, churches, shopping, beautiful views of Montagu Bay, good boating, mature trees, sweet breezes and brilliant landscaping. It really is a beautiful part of the island. But existing offerings do not match current market trends. It is getting more difficult to find buyers who want grand estates. For some of the current owners of those estates, times have changed. Their children are grown. They want to downsize, to find a community that offers lifestyle amenities. And there are not a lot of people coming behind them who want the maintenance of homes they are roaming around alone in a mini-mansion built for large families and elaborate parties decades ago. That means there is a very limited market.”
That reality, she said, is playing itself out in the listings on Eastern Road of what she calls “beautiful estates with breathtaking views that stay on the market month after month and, in a few cases, for years.” The answer, she believes, lies in what she calls “a realistic re-zoning.”
That re-zoning should be a matter for public consultation, but she suggests an area that would allow for construction of one or two high-end condominium developments with pools, fitness centre, covered parking, maybe even casual dining options and in-house concierge services.

“A few years ago, this would not have been practical but since the road improvements that have substantially reduced the time people spend in traffic in peak hours, the time has come to be realistic about the future of the eastern end of the island,” she said. “Eastern Road is one of the treasures of New Providence, and it deserves to be brought into current market realities while preserving its historic integrity with deep set lots, large trees and breathtaking landscaping and views.”

Pearce is the newest agent joining the firm that is housed in an historic building on East Bay Street. Island Living Real Estate handles residential and commercial sales and leasing and property management with a niche in the $300,000 to $1 million residential market.

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News

InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group

Published

4 days ago

May 14, 2024

Deandrea Hamilton

Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.

Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.

Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.

Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.

Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.

Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.

The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.

Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”

He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”

Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”

The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion

Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.

Crime

Male Charged with Robbery

Published

5 days ago

May 13, 2024

Deandrea Hamilton

#TurksandCaicos, May 13, 2024 – Detectives of the Serious Crime Unit of the Royal Turks and Caicos Islands Police Force have charged a man who allegedly stole a vehicle.

The accused, DANVANTE BRISCO, 30, of Kew Town, Providenciales, was charged with:

One Count: Robbery
One Count: Taking Motor Vehicle Without Authority
One Count: Using Offensive Weapon to cause fear

Mr. BRISCO appeared in court today (May 13 ) and was granted bail of $7500.00 with one surety.

The matter was adjourned to July 05 for a Sufficiency Hearing.

Crime

Dock Yard Male Charged

Published

5 days ago

May 13, 2024

Deandrea Hamilton

#TurksandCaicos, May 13, 2024 – A 20-year-old Dock Yard male appeared in court today (May 13th) charged with a series of firearm-related offences.

The accused, JAMES SIMON, was denied bail and remanded into custody pending a Sufficiency Hearing scheduled for July 05^th, 2024.

Mr. SIMON faces the following charges: 

One Count: Robbery;
One Count: Gang Membership
One Count: Possession of a Firearm for the Benefit of a Gang
One Count: Possession of Ammunition for the Benefit of a Gang.

The charges against Mr. Simon followed investigations by officers of the Royal Turks and Caicos Islands Police Force into a robbery at the parking lot of a Casino where three males robbed a victim.

Additionally, Mr. Simon is charged with the following offences, having been arrested on May 02^nd, 2024, along South Dock Road.