I have been informed that the proposed Port St. George development is slated for Stella Maris, Long Island. According to their website http://www.portstgeorge.com, they are developing 410 Hectares or approximately 1000 acres. Apparently they have an agreement in principal but I don't think a heads of agreement has been signed as yet. How do you people that are descended from Long Island or live on Long Island feel about this? What about the rest of you. I plan to draft a letter or at the very least talk to my brother about some of the concerns that I may have so that when they have a town meeting my views can be heard through him. Can we get this one right the first time before the heads of agreement is signed. Lets have the consultation with the public first!

P.S. Did I miss this announcement a few months back or is this just not Ingraham's style. The PLP made new announcements about anchor projects rather often.

wuh-wuh??

410 hectares??

wha de mudda!

This was going on from Christie's time.

It's another Pump & Dump outfit launched by Crisco Butt and Slow Feet Peet. They have no money and are financing it by lot sales -- another wholesale give-away by the falking PLP:

How it all began…
In December 2005, the developer paid a deposit on a large piece of land in the Stella Maris
Estate on Long Island. This consisted of:
1. Existing building plots with planning permission for residential or commercial
development (around 350 plots), and
2. 950 acres of undeveloped land ideally located for a large marina
In August 2006, the developer submitted an application for planning permission to build a
resort on the undeveloped land which will encompass the following:
 An international leisure marina including residential plots and adjacent dockage of
various sizes
 A championship golf course. The golf course on neighbouring Great Exuma has been
designed by Greg Norman. The developer plans to partner with a similar high profile
professional to design this course.
 Residential golf course villas and apartments
 A spa and hotel complex
 Commercial development
In March 2007, the developers met with the Rt. Hon. Vincent Peet, the Minister of Financial
Services and Investments in The Bahamas, and other Government Officials to discuss the
application. The developers were then invited to submit a draft a Heads of Agreement which
their lawyers have since submitted to the Government.
In June 2007, the Bahamas Government gave its backing to the proposed Port St George
project by granting approval in principle for the development. Now, the developers are
working with their Bahamian partners and the government to design a detailed plan for the
resort.
Financing the development
The first phase of the project - the purchase of raw Stella Maris land and adjacent sub-
divided, serviced Stella Maris plots - is being financed through the sale of 300 individual plots
ranging in size from under a quarter of an acre to just under one acre. Plots more than 15,000
sq ft (approximately 1/3 of an acre) already have planning permission for up to four attached
dwellings up to two storeys. Plots less than 15,000 sq. ft. have planning permission for one
two-storey dwelling. Since January 2006, around 240 plots have been sold, with
approximately 60 currently available (as of May 29
th
2007).
The second phase of the project is the proposed development of the new resort to comprise a
world-class marina, championship golf course, 5 star hotel and residential and commercial
complexes. This stage will be financed through several sources including:
 The pre-release of marina and golf plots to Stella Maris land owners for a discounted
starting price of US$320,000. This mechanism is planned to put in place contracted
pre-sales of an estimated minimum US$96 million (300 x US$320,000). These pre-
sales are key to securing bank funding for the infrastructure required,
 The developers are in negotiations with potential equity partners who want direct
involvement in the project. Further details about partnership involvement can be
provided by the developers.


http://bahamaspropertyinvestments.com/uploads/Port_St_George__Long_Island_-_Investment_prospectus.pdf

I have been informed that the proposed Port St. George development is slated for Stella Maris, Long Island. According to their website http://www.portstgeorge.com, they are developing 410 Hectares or approximately 1000 acres. Apparently they have an agreement in principal but I don't think a heads of agreement has been signed as yet. How do you people that are descended from Long Island or live on Long Island feel about this? What about the rest of you. I plan to draft a letter or at the very least talk to my brother about some of the concerns that I may have so that when they have a town meeting my views can be heard through him. Can we get this one right the first time before the heads of agreement is signed. Lets have the consultation with the public first!
P.S. Did I miss this announcement a few months back or is this just not Ingraham's style. The PLP made new announcements about anchor projects rather often.

1000 acres is a lot
did the govt sell them it at market value or at least a good deal?
im mad they have a site up and makng announcements before the govt even give them the green light...I blame the prevous administration for this- these foreignors dont know they place.
will this encroach on some of our generation land?
was the LI community, rather stella maris residents foretold about this- their lives will change forever and a day...im not sure this is good for the out island...1000 acres dang!

Lurker, how is it a giveaway when the lots are being sold?? The land is private land, it was for sale anyway, nothing new.

It's another Pump & Dump outfit launched by Crisco Butt and Slow Feet Peet. They have no money and are financing it by lot sales -- another wholesale give-away by the falking PLP:
How it all began…
In December 2005, the developer paid a deposit on a large piece of land in the Stella Maris
Estate on Long Island. This consisted of:
1. Existing building plots with planning permission for residential or commercial
development (around 350 plots), and
2. 950 acres of undeveloped land ideally located for a large marina
In August 2006, the developer submitted an application for planning permission to build a
resort on the undeveloped land which will encompass the following:
 An international leisure marina including residential plots and adjacent dockage of
various sizes
 A championship golf course. The golf course on neighbouring Great Exuma has been
designed by Greg Norman. The developer plans to partner with a similar high profile
professional to design this course.
 Residential golf course villas and apartments
 A spa and hotel complex
 Commercial development
In March 2007, the developers met with the Rt. Hon. Vincent Peet, the Minister of Financial
Services and Investments in The Bahamas, and other Government Officials to discuss the
application. The developers were then invited to submit a draft a Heads of Agreement which
their lawyers have since submitted to the Government.
In June 2007, the Bahamas Government gave its backing to the proposed Port St George
project by granting approval in principle for the development. Now, the developers are
working with their Bahamian partners and the government to design a detailed plan for the
resort.
Financing the development
The first phase of the project - the purchase of raw Stella Maris land and adjacent sub-
divided, serviced Stella Maris plots - is being financed through the sale of 300 individual plots
ranging in size from under a quarter of an acre to just under one acre. Plots more than 15,000
sq ft (approximately 1/3 of an acre) already have planning permission for up to four attached
dwellings up to two storeys. Plots less than 15,000 sq. ft. have planning permission for one
two-storey dwelling. Since January 2006, around 240 plots have been sold, with
approximately 60 currently available (as of May 29
th
2007).
The second phase of the project is the proposed development of the new resort to comprise a
world-class marina, championship golf course, 5 star hotel and residential and commercial
complexes. This stage will be financed through several sources including:
 The pre-release of marina and golf plots to Stella Maris land owners for a discounted
starting price of US$320,000. This mechanism is planned to put in place contracted
pre-sales of an estimated minimum US$96 million (300 x US$320,000). These pre-
sales are key to securing bank funding for the infrastructure required,
 The developers are in negotiations with potential equity partners who want direct
involvement in the project. Further details about partnership involvement can be
provided by the developers.

http://bahamaspropertyinvestments.com/uploads/Port_St_George__Long_Island_-_Investment_prospectus.pdf

can we stop this?

Lurker, how is it a giveaway when the lots are being sold?? The land is private land, it was for sale anyway, nothing new.


They put a down payment on stella maris estates, sell the lots and then get land from the govt for the resort, golf course etc.

They put a down payment on stella maris estates, sell the lots and then get land from the govt for the resort, golf course etc.


I am not sure but I think they purchased the land from the Stella Maris owners who probably got the land from the government for nothing back in the 50's and 60's. Rory might know more, his people are into real estate.

can we stop this?


We don't need to stop it. Let it continue. It would be something for me to move back to Long Island for. There are too many young bright Long Islanders that leave because there is nothing for them to do. And the majority of Long Island is all bush and mosquitoes anyway. We need to get rid of some of them in Stella Maris.

I agree 100% .. LI needs something like this.



And its probably better this way so that it can be a long term development and not a rush and go 18 month development like Atlantis Phase III. This way Long Island can benefit in the short and long term and it would give the government a chance to keep up with the civil infrastructural upgrades.

What I would like to see is many town meetings so that all these things can be discussed before hand. How many homes do they plan to build per year? How many workers will they need? Cause we all know that Long Island doesn't like illegal immigrants. If it is done right we can make it work effectively. Its all about planning and communication.

We don't need to stop it. Let it continue. It would be something for me to move back to Long Island for. There are too many young bright Long Islanders that leave because there is nothing for them to do. And the majority of Long Island is all bush and mosquitoes anyway. We need to get rid of some of them in Stella Maris.

when i say stop- i mean in terms of giving the land away for free-make these people come correct--thankfully the HOA een sign yet...

when i say stop- i mean in terms of giving the land away for free-make these people come correct--thankfully the HOA een sign yet...


Yeah well we'll have to see how it goes. Like I said before I think they purchased the land from the Stella Maris resort people that probably received it from the government back in the 1960 for dirt cheap. They were the ones that were supposed to develop it to begin with and never did.

I don't know if this trend will ever end unless a few Bahamian get together and start calling themselves developers ask the government for land, sell it build houses and become millionaires.

But this is what developers do....buy land or get it for free, sell it, develop it, make a killing then move on to the next one...its just the way it is.

It is better than building hotels on the island I think. We can collect property taxes, the home owners spend more money on the islands and it is a win win for everyone. The second home market is the way to go! Also, locals can make friends from all over the world and that can never be a bad thing.