BAHAMAS: Master Plan for ‘Sterling Commons at Hurricane Hole, P.I.,’ Unveiled

#Bahamas, April 9, 2018 – Nassau – Sterling Hurricane Hole, on Thursday announced a $250 million development on Paradise Island that is expected to create 600 construction job opportunities over a five-year period beginning 2019.  The company unveiled a master plan for ‘Sterling Commons at Hurricane Hole, P.I.’ that includes marina, residences, retail restaurants, office space and yachting services during a press briefing and tour of the property.

The Hon. Brent Symonette, Minister of Financial Services, Trade & Industry and Immigration said the “Live, Work, Play” idea is a “wonderful” experience because developments often have residential components and not necessarily play and business components.

Minister Symonette said The Bahamas and Paradise Island will welcome more restaurants particularly because of the lack of waterfront restaurants in a country that is surrounded by water.  The development is planned for the existing Paradise Island Hurricane Hole marina acreage.

David Kosoy, president, said the property will offer “affordable” condominiums from approximately $500,000 and up.

“We hired everyone that was here and we added people. We’ve improved the property that was let go over the years,” he said.

Bill Green, project manager, described the development as a “neighborhood revitalization” that will employ the latest in technology, construction, renewable energy and building techniques resulting in a world class resort.

Construction is set to begin in January 2019 and is expected to take five to seven years to complete.  It will employ 600 full-time workers on site during the construction period and provide 500 jobs in shops, restaurants, administration and management.

By: Kathryn Campbell (BIS)

Photo captions:

Header: The Hon. Brent Symonette, Minister of Financial Services, Trade & Industry and Immigration (left) chats with David Kosoy, chairman/Sterling Global Financial and president/Sterling Hurricane Hole (centre).  Tourism Director General Mrs. Joy Jibrilu is pictured chatting with Khaalis Rolle, vice-president/Sterling Hurricane Hole.

First insert: Preliminary Master Plan for ‘Sterling Commons at Hurricane Hole, P.I.,’ unveiled.

Second insert: David Kosoy, chairman/Sterling Global Financial and president/Sterling Hurricane Hole, right, in discussion with Minister Symonette.

BIS Photos/Kristaan Ingraham