A Big Boost for Nassau Real Estate in the Bahamas

A major development in downtown Nassau real estate – the $13 million Bayside Marketplace - is set to open in three months.
Undaunted by the global recession, investor Charles Klonaris is nearing the finish line on the redevelopment of the old Moses Plaza in the commercial port area of downtown Nassau Bahamas.
It took guts, but Klonaris, a Bay Street merchant, said his family's vision shows what can be accomplished with the downtown area, once considered Nassau's prime real estate district.
But the move's more than bold; it's Pied Piper clever. It puts a marina, retail stores and restaurants practically on the doorstep of the world class Atlantis resort and marina across the harbour.
Bayside Marketplace in the forerunner to the much touted relocation of the port from Bay Street to Arawak Cay, about a mile to the west.
The plaza/marina will house 14 retail units, a courtyard cafe, and two waterfront restaurants against a backdrop of the harbour and Atlantis. Twelve slips will provide berths for vessels up to 60 ft. long.
The real estate development is one of the most exciting for Nassau in more than a decade, in that it seeks to revitalise a strip that was once hailed as the leading centre for luxury goods in the Atlantic islands and Caribbean.
An upscale Mediterranean restaurant has already committed to Bayside Marketplace and nine of the 14 retail units are taken. Tenants include Dolphin Encounters, Stuart Coves Dive Bahamas and Haagen-Dazs.
The Bahamas government has announced it's pressing ahead with a $10 million straw market for Bay Street. In days gone by, the Nassau straw market was famous for its beautifully crafted straw hats, dolls and bags.
It looks like the magic is returning to Nassau real estate in the downtown area. Source: The Nassau Guardian