THE first phase of development on The Pointe in downtown Nassau has been completed, with the official opening of the seven-storey, 900 space parking garage.

Prime Minister Perry Christie, along with executives from China Construction America (CCA) and the owners of Neworld One Bay Street, the developer of The Pointe, officially opened the garage on Tuesday night, the first phase of the ambitious plan for Nassau’s harbour front.

Mr Christie said The Pointe will be a beachfront branded condo-hotel and marina resort which will expand the entertainment and retail offering in the downtown area, offer sporting and entertainment venues and create of new and innovative commercial products, “all of which will serve to enliven and re-energise our nation’s capital”.

He said the fully automated garage will be offering corporate rates to the public and will help to alleviate congestion and improve traffic flow in the downtown area. “The garage includes a rooftop bar and offers for sale six 3,000 square foot ‘live and work’ condo units as an ideal option for those who wish to completely eliminate the daily commute to and from work,” he said.

Mr Christie thanked CCA and Neworld for taking the decision to extend their investment in the Bahamas “at a time when we were faced with the crippling effects of the Baha Mar work stoppage and insolvency proceedings, when they, like other creditors of Baha Mar, were uncertain whether they could recoup their losses. Neworld has since has injected over $10 million into the economy during the construction of this garage, employing over 500 Bahamians, representing the majority of workers on site during the construction period.

“Neworld also contracted the services of over 100 local sub-contractors, suppliers and service companies during its various stages of the garage’s development, further stimulating employment at a critical juncture in New Providence’s economic cycle.”

Mr Christie hailed The Pointe’s impact on the western corridor of downtown Nassau. “With successive phases of the master plan’s development coming on stream we can expect to see a transformation of our waterfront and the beginnings of a revival of the City of Nassau in a way that will meet the needs of 21st century Bahamians, residents and visitors alike, thus restoring prominence to one of the most attractive and dynamic city centres in the Western Hemisphere,” he said.

He 0said he had asked the developer to participate in the restoration of the public beach from The Pointe’s western boundary along Junkanoo Beach to the Fish Fry and to construct a boardwalk that would connect the Fish Fry to the development. The public will have access along the public beach to The Pointe,” he added.

“Additionally, I am asking the developer, which is one of the world’s largest construction companies, to partner with the Government in solving the flooding problem that occurs along West Bay Street in the area between The Pointe stretching west to Chippingham Road.”

He described the project by Neworld as coming at an opportune time and representing “the dawn of a new era for the downtown area; an era of hope, opportunity, dynamism and progress”.