By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

A Paradise Island project’s developers last night said they plan to start construction at the presently-vacant site opposite both Comfort Suites and the Atlantis employee parking lot this year.

Alex Haley, senior project manager at Versani Properties, told last night’s public consultation that the developers plan to deliver the first phase within 12-18 months once the necessary approvals have been secured. “Right now, it’s proposed at 90 [units]. But this is, again, still in development. We’re still working through concepts,” he said.

“From the developer’s perspective, obviously pending all necessary approvals, we have some targets to begin towards the end of 2025, and we would be working to deliver some phases of this within 12 to 18 months.” Versani Properties’ principals were not identified at last night’s meeting.

However, a Google search located a Bahamas Real Estate Association (BREA) website link. While that link appeared to be no longer working, it seemed to name Sebas Bastian, the Island Luck co-founder, as the project’s principal.

Paradise Island residents who attended the Department of Environmental Planning and Protection (DEPP) public consultation raised concerns about traffic congestion during the construction phase as the Ocean Club Four Seasons is also undergoing construction work.

Mr Haley said while there currently is no a traffic mitigation plan in place, the developers are willing to implement adjusted work hours to minimise congestion.

“I cannot say that we have at the moment, but it’s something that we can definitely look into. Maybe we can stagger the times that we set up our shifts to allow some relief so we’re not adding to the congestion. But this is something that we definitely would put forward with the operations as well and construction,” said Mr Haley.

Versani Properties Ltd, according to the project’s environmental baseline study and management plan, is proposing to construct two five-storey towers that will feature both retail and office space on the first two floors, plus amenities such as a gym, swimming pool and restaurant, with the upper floors containing two and three-bedroom condominiums.

The project, which is now seeking its certificate of environmental clearance (CEC) and other related approvals from the Department of Environmental Planning and Protection (DEPP), would be located on Paradise Island Drive at a site bordered on both sides by Flamingo Road and Harbour Ridge Road. To the west sits the Atlantis staff parking, while to the north and south are Comfort Suites and the Warwick, respectively.

The study, conducted by the Bahamian environmental consultancy, Bron, did not identify the developer’s principals or the likely investment Versani Properties will be making. However, it appears to be linked to a West Bay Street project by a developer called Vistonian Development Group, which shares the same number with Versani Properties while both their websites are virtually identical in terms of design and content.

Vistonian Development Group, which is also seeking the same environmental and DEPP approvals as Versani Properties via a separate application, is targeting a five-acre site immediately west of the Ocean Terrace condominiums on West Bay Street for its own “mixed-use condominium complex” that will also feature office spaces, restaurants, a spa and 24 single family homes.

The Versani Properties study forecasted that the project’s completion would increase Paradise Island’s population by some 520 persons, broken down into 104 retail, office and other workers employed by its amenities plus some 416 residents in its condos.

“The total estimated waste for the 520 persons expected on site (104 staff and 416 in the condos) is 1,765 kg (kilograms) per year,” it said. “The proposed Versani Properties Ltd development consists of two multi-storey towers designed to incorporate a mix of residential and commercial elements, including retail spaces, a lobby area, a fully equipped gym, a swimming pool and a restaurant with outdoor seating.

“The development will also feature a selection of two-bedroom and three-bedroom residential units, and is situated on a previously disturbed site on Paradise Island, Bahamas. Collectively, these components are referred to as the development. The site is bounded by three main thoroughfares and adjacent to existing infrastructure such as power, water supply and a wastewater treatment facility.