Nassau Real Estate Plans

We're thrilled that the ongoing push to upgrade Bay Street in the heart of Nassau, Bahamas, seems to be bearing fruit.
Bay Street was once the tourist mecca of Nassau and boasted some of the finest real estate found in the Bahamas. Over the years, it has become shabby. Much of the beautiful old Colonial architecture is intact, but the charm of yesteryear has faded.
However, Nassau's Downtown Revitalization Committee, comprised of merchants, and the Bahamas government have formed a group called the Downtown Nassau Partnership to revive and manage the city.
The government plans to enlarge the cruise ship terminal and architect Jackson Burnside has laid out how amazing downtown Nassau could be.
Burnside envisages a three pronged development approach.
The first phase covers Woods Rogers' Wharf and its side streets, from the British Colonial Hilton east to Rawson Square. This is to be turned into a ‘waterfront pedestrian park' with cafes, pubs, shops and so on. The plan calls for a new straw market, night spots, art galleries, a waterfront ‘strip' and lots of cultural events.
Stage two would be the expansion and greening of Rawson Square, the heart of downtown Nassau, to make way for cultural events and entertainment.
And thirdly, the plan to is turn Nassau into a ‘living city;” that is, a city that doesn't drain of life after 5pm and on weekends.
The Nassau real estate in the area is to be used for condos, as well as shops, businesses and restaurants. This is expected to have a positive impact on real estate prices in downtown Nassau.
One of the key components in the revitalization of downtown Nassau is the relocation of the container port, which will improve the traffic congestion of Bay Street.
Overall plans call for lots of landscaping, dredging the harbor to allow for larger cruise ships, major improvements to roads and lighting, wider sidewalks, pedestrian streets feeding off the waterfront and leading on to Bay Street, a building facelift and more trees.
A marina also is planned for the area.
The concept for downtown Nassau is exciting. For years, the real estate in this area has been deteriorating. It's wonderful to think it will, once again, be a jewel in this part of the world.
As time goes on, if these plans are implemented, the old buildings that have fallen into disrepair to the east will become sort after and this sector of the Nassau real estate market will see a revival.