ABACO, BAHAMAS – As 2025 unfolds, Treasure Cay on Great Abaco Island has become a primary focus for GreenPointe Holdings. The Jacksonville, Florida-based real estate developer, which entered into the Heads of Agreement with the Bahamian government last year, is dedicated to rejuvenating this beloved destination. Recent updates reveal significant strides toward a bright future for Treasure Cay.
“2025 is off to a strong start, and we’re thrilled with the progress in revitalizing Treasure Cay,” says Steve Griggs, Development Manager at GreenPointe. “We’ve engaged a team of expert consultants to guide the planning and permitting phases, paving the way to break ground later this year.” This achievement represents another significant milestone in restoring Treasure Cay, a beloved destination for residents and visitors alike.
Key Updates on the Treasure Cay Redevelopment
Environmental Approvals in Progress
GreenPointe has engaged BRON, a Bahama-based environmental consultancy, to secure the necessary environmental approvals. These approvals will ensure the redevelopment meets all regulatory standards while safeguarding the natural beauty of Treasure Cay. Additionally, the Department of Environmental Planning and Protection will soon visit Treasure Cay to work with GreenPointe to ensure a balance between responsible development and environmental preservation.
Marina Restoration Underway
GreenPointe is collaborating with Cummins & Cederberg, renowned marina design experts, to restore Treasure Cay’s iconic marina. The renovation will involve replacing bulkheads and enhancing navigational channels to ensure safe and efficient water access. Upon completion, the marina will once again serve as a vibrant hub for boating and marine activities in North Abaco, benefiting the local economy and lifestyle.
Phase 1 Plans Taking Shape
OBMI, the design team working on the project, is making significant progress on Phase 1 of the redevelopment. While specific details remain forthcoming, GreenPointe has confirmed that the plans are moving ahead smoothly. Phase 1 will focus on creating a balanced mix of residential, commercial, and recreational spaces, laying the groundwork for Treasure Cay’s future growth.
Golf Course Redevelopment on the Horizon
As part of Treasure Cay’s revitalization, GreenPointe is proud to announce the restoration and complete redevelopment of its renowned 18-hole championship golf course. With guidance from expert consultants, the project will transform the course into a world-class destination, blending exceptional design with the natural beauty of the surroundings. This iconic amenity will soon offer an unparalleled golfing experience for both locals and visitors. We look forward to sharing more updates as this exciting project moves forward.
Infrastructure Upgrades in Progress
GreenPointe is working closely with Caribbean Civil Group, Water and Sewer Corporation, and Bahamas Power and Light to finalize critical infrastructure upgrades, including utilities and services. These improvements are vital to ensuring that Treasure Cay’s redevelopment is built on a foundation of reliability and resilience, creating a sustainable, modern community for the future.
Looking Ahead
As plans for the restoration of Treasure Cay continue to unfold, the anticipation surrounding the project is palpable. All involved remain committed to delivering a revitalized Treasure Cay focused on quality, sustainability, and community. Though the road to recovery has been lengthy, confidence in the project’s future has never been stronger, with GreenPointe preparing to break ground later this year.
To stay up to date as we continue our journey to restore and enhance this iconic destination, please register here. We look forward to seeing Treasure Cay thrive once again!
As featured in Jacksonville Business Journal
Jacksonville-based GreenPointe Holdings recently announced it has entered into an agreement to purchase and redevelop Treasure Cay, located on the Great Abaco Island inThe Bahamas.
The redevelopment agreement with the Bahamian government comes on the heels ofHurricane Dorian’s fifth anniversary, where the Category 5 hurricane devastated the island of Abaco, including Treasure Cay on Sept. 1, 2019.
GreenPointe Holdings’ plans to revitalize Treasure Cay as a community featuring single-family homes, condominiums and villas, an 18-hole championship golf course complete with practice facilities, a beach club including restoration of Coco Beach Bar andGrill, a 175-slip marina, a retail marina village that restores the famous Tipsy Seagull, racquet club complete with tennis and pickleball, as well as a wellness retreat, spa and fitness facility.
The development efforts also feature a commercial center designed to serve the needs of locals, which will include a grocery store, hardware store, bank and business offices –essential services which have been lacking since the hurricane, GreenPointe HoldingsCEO Edward E. Burr told the Business Journal.
At build-out, the project investment will be approximately $1.5 billion and is expected to break ground in 2025 with the first phase projected to open 2027.
“Revitalizing Treasure Cay goes beyond reconstruction; it’s about reigniting a beloved way of life that started in the 1960s,” Burr said. “We have the unique opportunity to not only restore a distinctive resort community, but also to renew hope and opportunity for the entire area. Treasure Cay has long been the economic engine of North Abaco, and the people deserve to see their community restored to the vibrant place that was once enjoyed by so many.”
Burr has owned a home in Abaco for about 20 years.
“GreenPointe Holdings is the ideal partner for this redevelopment because of their deep-rooted connection to Abaco and their proven history of delivering impactful projects,” Bahamian Prime Minister Philip Brave Davis said in a statement.” Their vision aligns with our government’s commitment to not only rebuild what was lost, but to create a stronger, more resilient community that offers new opportunities for generations to come. This revitalization of Treasure Cay marks a significant step forward in our journey of recovery, and I am confi dent that together, we will restore the heart and spirit of North Abaco.”
The development has previously faced challenges, Burr said, including weather-related delays and previous ownership issues, but he said he’s optimistic for the projects future as it has the involvement of several key local stakeholders. The next steps involve obtaining development permits to begin construction, with a focus on restoring amenities.
Aside from its Jacksonville headquarters, GreenPointe maintains regional offices inTampa, Port St. Lucie, Sarasota and Naples/Fort Myers. In addition to the newly announced Treasure Cay project, GreenPointe is also developing and managing 20master-planned communities in 10 Florida counties with a variety of mixed-use entitlements, including approximately 27,000 single-family homesites, 2,200 multi-family units and 800,000 square feet of commercial and retail space.
As featured in The Tribune.
Treasure Cay business and second home owners have hailed the $177m investment that promises to revive the community as “a day of joy” after multiple previous deals fell through.
Speaking after last week’s Heads of Agreement signing between the Government and Edward Burr, a Florida-based developer who himself owns a residence at Treasure Cay, they described the announcement as “a long time coming” after numerous previous suitors failed to close the acquisition with the Meister family.
Tara Diane, owner of Cafe La Florence and a Treasure Cay resident, recalled as a teenager how she waited for Treasure Cay to obtain a new developer and fresh investment but to no avail.
“It’s been a long time coming,” she said. “I would say from, I was probably about 15 or 16, waiting for Treasure Cay to be sold and each time coming so close but not happening, and to be here and to be a business owner within this community, to see this happen, it’s totally a day of joy for me because this is what I wanted to see for my community.
“This is what I wanted to see for my island. Treasure Cay, years ago, was the economic hub for our island in terms of employment for so many throughout the island of Abaco, and I grew up here in Treasure Cay in its glory days.”
Dan Proctor, a Treasure Cay second home owner of 30 years’ standing, said himself and others have been waiting for Treasure Cay to attract a new developer for years after seeing many prospective buyers come and go.
“We’ve had others that have had an interest in buying Treasure, but it wasn’t a great fit,” he said. “They didn’t understand the uniqueness of Treasure. They didn’t understand the people, the neighbourhoods. I just think we’re blessed.
“What are the chances of having one of your own [Mr Burr] come forward and, on such a massive scale, to redevelop something that’s been wiped out by the worst hurricane ever to hit the Bahamas? Unheard of.”
COVID-19 and Hurricane Dorian each devastated Treasure Cay and, according to Tegwen Hunt Hastedt, many second home owners in the area never returned. Mr Proctor said he heard about 75 percent of second home owners left Treasure Cay after Hurricane Dorian.
They added that the deal with Mr Burr raises hopes that Treasure Cay will be restored to its pre-pandemic and pre-Dorian lifestyle. As it stands now, according to Ms Diane, Treasure Cay lacks the necessary restaurant, retail and other businesses and amenities to give it critical mass.
Mr Proctor believes the project will not only bring Treasure Cay back to its pre-2020 self but maybe even improve it. “The choices have been very limited and it makes it very hard for the community, for the local Bahamian population, to compete as a tourist destination,” he said.
“I think one of the things that excites all of us, and again, all three groups, is that the restoration and the improvement of those services is going to dramatically increase the appeal of Treasure Cay. It’s going to create a monumental increase in services and will very likely make Treasure Cay a premier destination from a worldwide perspective.
“I have seen some of the plans, and everything I’ve seen makes me appreciate the fact that it’s going to be environmentally friendly, very sustainable, going to have a tremendous local impact on the economy and when I say local, I mean all of Abaco, but in particular Treasure Cay and North Abaco, which desperately needs a shot in the arm.”
Prime Minister Philip Davis KC, speaking at last week’s Heads of Agreement signing, said Mr Burr and his Jacksonville-based entity, GreenPointe Holdings, are seeking to develop Treasure Cay into a mixed-use resort and residential community following the property’s acquisition from the Meister family.
“Treasure Cay has long been an iconic destination and I am excited to see it restored and elevated to an even higher standard. We have remained resolute in our efforts to rebuild
and revitalise Abaco. The GreenPointe redevelopment of Treasure Cay is yet another step on the road to recovery for Abaco’s economy,” Mr Davis said.
“GreenPointe Holdings, led by Edward Burr, aims to revamp Treasure Cay into an exclusive luxury resort and residential area with top-notch facilities and services that stand out globally. This $177m development, starting with phase one, will restore infrastructure, including the marina and harbour.
“They will also construct new residential units, a hotel and essential services such as a grocery store—all designed to enhance the lives of both Bahamians and visitors alike.” Mr Proctor added: “Ed Burr has been a resident of Treasure Cay and has visited with his family for, I think I’m correct in saying, about two decades and so it’s not an outside group.”
Ms Diane concurred and said: “To think about how Mr Burr, he sees the jewel in Treasure Cay, and first he had to believe in the people to believe that this was worth spending $177m. It speaks volumes that his heart is here. His heart is truly for the community.”
A realtor with Abaco Estate Services, stationed in Treasure Cay believes tourism and second home owners will flock to the area due to this project.
“Well, our initial impression is it will be very beneficial not just for our company, but for anyone who owns property in Treasure Cay. A huge boost. The destruction from Dorian, it’s been a long time coming and even before Dorian. So Treasure Cay is a very special place, and it has an immense amount of potential. I mean, if that’s one thing you can say about Treasure Cay, the potential is limitless,” they said.
Mr Davis yesterday added: “I was pleased that our administration was able to bring someone to the table to revitalise that area. So we’re looking forward to the major investments.”
Read the article from the source.
As featured in St Kitts & Nevis Observer
Nassau, The Bahamas– The Government of The Bahamas has reaffirmed its commitment to rebuilding and revitalising Abaco in the post-Hurricane Dorian era with the signing of a transformative Heads of Agreement with GreenPointe Holdings LLC. This landmark $177 million redevelopment project will see the iconic Treasure Cay resort and residential area restored and elevated to a world-class luxury destination.
Led by Mr. Edward Burr, GreenPointe Holdings plans to revamp Treasure Cay with modern, top-tier facilities and services. Phase 1 of the development will include the restoration of critical infrastructure, such as the marina and harbour, along with the construction of new residential units, a luxury hotel, and essential services like a grocery store. These enhancements are designed to benefit both Bahamian residents and visitors alike, boosting tourism and the local economy.
The Prime Minister further highlighted the broader impact of the project on Abaco’s economic revival, noting that the redevelopment will generate numerous job opportunities across construction, hospitality, and retail sectors. “We are committed to ensuring that Bahamian workers are prioritised throughout this project, and GreenPointe’s dedication to providing training opportunities will help reduce reliance on foreign labour,” he said.
Environmental sustainability is also a key priority of the Treasure Cay project. GreenPointe Holdings has pledged to ensure that all development efforts align with the protection of Abaco’s valuable ecosystems, safeguarding the island’s natural beauty for future generations.
In addition to the environmental and economic benefits, the redevelopment project will provide opportunities for Bahamian investors to participate in the resurgence of Treasure Cay. “This project is not just about international investment; it’s about giving Bahamians a stake in the future of their country,” said the Prime Minister.
The Government of The Bahamas, together with GreenPointe Holdings, aims to restore Treasure Cay as a symbol of Bahamian beauty, resilience, and opportunity. The collaboration goes beyond economic development — it reflects the shared vision of a more prosperous and sustainable future for Abaco.
“We are excited to embark on this journey with GreenPointe Holdings and look forward to the positive economic impact this project will have, including new revenue streams from hotel and retail operations and the further development of our tourism sector,” concluded the Prime Minister.
Read the article from the source.
As Featured in The Tribune
The proposed $177m revival of Abaco’s Treasure Cay development was yesterday hailed as a “win-win all the way around” and greeted with shouts of “hallelujah” by the island’s Chamber president.
#Daphne DeGregory-Miaoulis told Tribune Business the area’s restoration as a leading tourism and second home destination is “desperately needed” given the damage inflicted by both Hurricane Dorian and the COVID-19 pandemic as it was previously responsible for “putting Abaco on the map”.
#Speaking after Prime Minister Philip Davis KC and the Government signed a Heads of Agreement with Edward Burr, the Florida-based developer who this newspaper exclusively revealed in March 2024 was set to acquire Treasure Cay, she added that the development will likely provide “a big boost” to property values while also “easing the strain” for northern Abaconians who commute to Marsh Harbour for work.
#Mr Davis confirmed that Mr Burr and his Jacksonville-based entity, GreenPointe Holdings, are seeking to develop Treasure Cay into a mixed-use resort and residential community following the property’s acquisition from the Meister family.
#“Treasure Cay has long been an iconic destination and I am excited to see it restored and elevated to an even higher standard. We have remained resolute in our efforts to rebuild and revitalise Abaco. The GreenPointe redevelopment of Treasure Cay is yet another step on the road to recovery for Abaco’s economy,” Mr Davis said.
#“GreenPointe Holdings, led by Edward Burr, aims to revamp Treasure Cay into an exclusive luxury resort and residential area with top-notch facilities and services that stand out globally. This $177m development, starting with phase one, will restore infrastructure, including the marina and harbour.
#“They will also construct new residential units, a hotel and essential services such as a grocery store—all designed to enhance the lives of both Bahamians and visitors alike.” Mrs DeGregory-Miaoulis, when informed of the signing by this newspaper, replied: “Hallelujah, that’s all I can say. That’s desperately needed.
#“I don’t know how aggressive they’re going to be but I can’t imagine we’ll be feeling the real effects of this until well into 2025. A question to ask would be what this means for Treasure Cay airport. Will that be a fully-functioning airport for the northern end? It definitely has to be.
#“It’s something that needs to be asked and confirmed as it’s a long drive from Marsh Harbour airport to Treasure Cay, so I’m sure that is obviously going to be a substantial part of what they’ve agreed upon. Back in the day Treasure Cay’s development is what put Abaco on the map, and it certainly was just that for the northern end of the island, which is desperately in need after being severely impacted from Dorian.”
#Mrs DeGregory-Miaoulis said Treasure Cay’s revival could “reverse a large influx from Treasure Cay and the northern end all the way to Crown Haven” as the relative lack of economic activity in northern Abaco has forced many residents to commute to Marsh Harbour for work. Now, the prospect of jobs and economic activity at Treasure Cay will help to “take the strain off”.
#She added that the main road leading into Treasure Cay also needs to be repaved because it has “deteriorated terribly”, but said: “We’re very excited to know this is moving forward. Thank God. It will be fantastic for tourism and, what I think it will do, I think it will give a big boost to the second home ownership.
#“Treasure Cay is really supported by the owners and second home residents, and a lot of new homeowner residents came in post-Dorian. I think this will now give a boost to property values in that are and generate a lot of interest. Hopefully it will attract a lot more second homeowners who, really in many ways, are the lifeblood that supports the island.
#“Tourism and second home ownership. All the properties are visitor properties because most of them are in the rental market. It’s going to be a win-win all the way around, and the time to celebrate will be at the first ground-breaking.
#“In real estate, we don’t celebrate until the cheque is received and the first dollar is spent. Let’s see the pick axe go in the ground and money spent. That will give us full confidence that nothing will interfere with this development.”
#Mr Davis, in unveiling the Treasure Cay deal, said: “This agreement with GreenPointe Holdings LLC to revitalise Treasure Cay represents a turning point for the Abacos and is a welcome initiative that is set to benefit Abaco’s economy – an injection of growth that has been needed in this post-Dorian era….
#“Investment in Treasure Cay represents more than a financial commitment. It signifies a dedication to the future of the Abacos. The redevelopment efforts are expected to create numerous job opportunities across various sectors including construction, hospitality and retail, offering long-term and sustainable employment prospects for Abaconians.
#“We are steadfast in our commitment to ensuring that Bahamian workers are prioritised at every stage of this project, and we welcome GreenPointe’s initiative to provide training opportunities for Bahamians and reduce dependence on foreign labour.”
#Mr Davis said “Bahamian investors will have an opportunity to participate in this project”, but did not go into detail on what he meant, while adding: “We look forward to the positive economic impact this project is projected to have, which includes ongoing revenue streams from hotel and retail operations and the further development of our tourism sector.
#“Let’s work together to bring Treasure Cay back to its glory as a symbol of Bahamian beauty and resilience.” Mr Burr, in speaking with Tribune Business back in March, said the agreement with the Meister family creates “a unique opportunity” to not only “revive” what has been described as “the largest second homeowner community in The Bahamas and Caribbean” but the whole of North Abaco.
#A near-20 year home-owner at Treasure Cay himself, Mr Burr said he and his team were still finalising development plans but aimed to capitalise on the destination’s “rich history” to “build better than what we have”. While the level of investment and number of jobs that will be created had then to be determined, the developer anticipates submitting its application for government approvals in “the near term”.
#Mr Burr told this newspaper the project is also seeking to “revitalise” wider North Abaco through the entrepreneurial and employment opportunities it will provide, restoring businesses and ensuring families become “self-sufficient” such that it halts the departure of persons seeking work elsewhere.
#“We have a binding purchase and sales agreement with the Meisters to purchase Treasure Cay,” the GreenPointe chief confirmed. “We have been doing the proper due diligence and normal things buyers do, and look forward to a successful conclusion to the process.”
#Confirming that much of the work to-date has involved “understanding the infrastructure and condition of the property as it is’”, especially given the near-catastrophic damage much of it sustained during Hurricane Dorian, Mr Burr said he has been visiting Treasure Cay personally for more than 20 years and has owned a home in the community since 2005.
#“We’ve been doing as buyers do, understanding the issues with the property first,” he added. “We’re looking forward to the successful conclusion of this process and doing something that will revive and make better not only Treasure Cay but also all of North Abaco.
#“Everything is in process. We don’t have any final plans. We will be submitting concept plans to the Government along with our approvals.” Asked when the application for the necessary permits and approvals will be made to the Bahamas Investment Authority (BIA), Mr Burr replied: “There are so many moving parts, I hate to put a date on it, but it will certainly be in the near-term. I will say that…
#“We haven’t involved government much to-date… It’s really taken a while to understand the asset. I think we have a good handle on that and are putting in plans. I think we’ve done a good job of getting an understanding of that and are working on the plans themselves, ready to move forward.”
#As for what attracted him to acquire the project, which is thought to have some 595 undeveloped acres and possibly a further 1,000 in additional land, he added: “My love for Treasure Cay would be the first motivation, and the opportunity to bring the talent, resources and skills of my company, GreenPointe, to revitalise what was Treasure Cay and make it better. We feel we can build better than what we had.
#“Certainly we have had friends, and have known people residing in North Abaco, and I’ve watched many of them leave North Abaco because they cannot make a living because there are no jobs in North Abaco. I think we can do a great job of restoring business opportunities and helping to make people self-sufficient and to revitalise most of North Abaco.”
#Mr Burr and GreenPointe appear to have the expertise, track record and necessary financing to do what is required in reviving Treasure Cay. Their focus is “to create sustainable, high-value communities throughout the south-eastern United States”, according to the company’s website.
#It lists some 18 communities on both the west and east coast of Florida that GreenPointe has either developed, or is developing, with many described as “mixed-use, master-planned” developments featuring hundreds of homes spread across sites ranging in size from several hundred to almost 2,000 acres. Waterfront developments, country clubs, and condominium projects are also included in the portfolio.
Read the article from the source.
On the heels of Hurricane Dorian’s fifth anniversary which devastated Abaco, Bahamas, The Bahamian Government & GreenPointe Holdings Finalize Heads of Agreement
Abaco, Bahamas – GreenPointe Holdings, a Jacksonville, Florida company with strong ties to Abaco, Bahamas, has entered into a Heads of Agreement approving the purchase and redevelopment of Treasure Cay. This announcement was made today by Bahamian Prime Minister Philip Brave Davis and Edward E. Burr, the Chairman and CEO of GreenPointe Holdings, on the heels of Hurricane Dorian’s fifth anniversary. The Category 5 hurricane devastated the island of Abaco, including Treasure Cay on September 1, 2019.
GreenPointe Holdings’ plans to revitalize Treasure Cay as a community featuring single family homes, condominiums and villas, an 18-hole championship golf course complete with practice facilities, a beach club including restoration of Coco Beach Bar and Grill, a 175-slip marina, a retail marina village that restores the famous Tipsy Seagull, racquet club complete with tennis and pickleball, as well as a wellness retreat, spa and fitness facility.
The development efforts feature a commercial center designed to serve the needs of all North Abaconians slated to include a grocery store, hardware store, bank, and business offices – essential services which have been lacking since the hurricane.
At build-out, the project investment will be approximately $1.5 Billion and is expected to break ground in 2025 with the first phase projected to open 2027. The economic impact and job creation projections are expected to be enormously impactful to the island of Abaco.
Mr. Burr has owned a home in Abaco for approximately 20 years and has spent a good deal of time on the island. “Revitalizing Treasure Cay goes beyond reconstruction; it’s about reigniting a beloved way of life that started in the 1960’s,” said Mr. Burr. “We have the unique opportunity to not only restore a distinctive resort community, but also to renew hope and opportunity for the entire area. Treasure Cay has long been the economic engine of North Abaco, and the people deserve to see their community restored to the vibrant place that was once enjoyed by so many.”
“It has been an absolute honor to work alongside Prime Minister Davis and the Bahamian government in bringing this revitalization agreement to fruition. Their commitment and collaboration have been instrumental in ensuring that we can move forward with a project of this magnitude. Together, we are laying the foundation for a renewed Treasure Cay, one that will benefit not only the local community but the entire region for generations to come,” said Mr. Burr.
Prime Minister Davis said, “GreenPointe Holdings is the ideal partner for this redevelopment because of their deep-rooted connection to Abaco and their proven history of delivering impactful projects. Their vision aligns with our government’s commitment to not only rebuild what was lost, but to create a stronger, more resilient community that offers new opportunities for generations to come. This revitalization of Treasure Cay marks a significant step forward in our journey of recovery, and I am confident that together, we will restore the heart and spirit of North Abaco.
For more information and to follow progress, please visit marinatreasurecay.com.
As Featured in
The Nassau Guardian
The hurricane ravaged Treasure Cay Resort in Abaco is set to be revitalized in a $177 million investment by GreenPointe Holdings LLC, which says it hopes to not only revitalize the resort area, but also the entire Treasure Cay community, and allow Bahamians to invest in the project, Prime Minister Philip Davis explained yesterday during the signing of the heads of agreement for the redevelopment.
Davis explained that GreenPointe has also committed to offer on-the-job training for construction workers and limit the number of foreign workers on the job.
“Investment in Treasure Cay represents more than a financial commitment — it signifies a dedication to the future of The Abacos,” he said.
“The redevelopment efforts are expected to create numerous job opportunities across various sectors, including construction, hospitality, and retail – offering long-term and sustainable employment prospects for Abaconians.
“We are steadfast in our commitment to ensuring that Bahamian workers are prioritized at every stage of this project, and we welcome GreenPointe’s initiative to provide training opportunities for Bahamians and reduce dependence on foreign labor.
“It is also crucial to highlight GreenPointe’s commitment to protecting the environment as we move forward with reconstruction efforts. They have pledged to ensure that the project is consistent with the preservation of the island’s most important ecosystems.
“And, perhaps most importantly, Bahamian investors will have an opportunity to participate in this project. It is very important to us that Bahamians are able to own their share of this exciting development.”
The Treasure Cay area, including the resort were devastated by the monster category five Hurricane Dorian in 2019.
Davis said this investment by GreenPointe, led by Edward Burr, will revitalize the Treasure Cay area.
According to the prime minister, GreePointe plans to build a marina and harbor, new residential units, a hotel and a grocery store in phase one of the project.
“This agreement with GreenPointe Holdings LLC to revitalize Treasure Cay represents a turning point for The Abacos and is a welcome initiative that is set to benefit Abaco’s economy — an injection of growth that has been needed in this post-Dorian era,” Davis said.
“Treasure Cay has long been an iconic destination and I am excited to see it restored and elevated to an even higher standard.
“We have remained resolute in our efforts to rebuild and revitalize Abaco. The GreenPointe Redevelopment of Treasure Cay is yet another step on the road to recovery for Abaco’s economy.”
Davis added that the project will be another revenue stream for The Bahamas as well as another shot in the arm for the tourism sector.
Read the article from the source.
Ladies and Gentlemen,
Good afternoon. I am pleased to be here with you all to celebrate as we take another significant step in the continued growth and development of The Abacos.
The Bahamas has always been known for its natural beauty, rich history, and tremendous potential for industry. This potential has attracted world-class investments that enhance our tourism product and uplift our communities. This agreement with GreenPointe Holdings LLC to revitalize Treasure Cay represents a turning point for The Abacos and is a welcome initiative that is set to benefit Abaco’s economy— an injection of growth that has been needed in this post-Dorian era.
Treasure Cay has long been an iconic destination and I am excited to see it restored and elevated to an even higher standard. We have remained resolute in our efforts to rebuild and revitalize Abaco. The GreenPointe Redevelopment of Treasure Cay is yet another step on the road to recovery for Abaco’s economy.
GreenPointe Holdings, led by Mr. Edward Burr, aims to revamp Treasure Cay into an exclusive luxury resort and residential area with top-notch facilities and services that stand out globally. This $177 million development, starting with Phase 1, will restore infrastructure, including the marina and harbour. They will also construct new residential units, a hotel, and essential services such as a grocery store—all designed to enhance the lives of both Bahamians and visitors alike.
Investment in Treasure Cay represents more than a financial commitment—it signifies a dedication to the future of The Abacos. The redevelopment efforts are expected to create numerous job opportunities across various sectors including construction, hospitality, and retail – offering long-term and sustainable employment prospects for Abaconians. We are steadfast in our commitment to ensuring that Bahamian workers are prioritized at every stage of this project, and we welcome GreenPointe’s initiative to provide training opportunities for Bahamians and reduce dependence on foreign labour.
It is also crucial to highlight GreenPointe’s commitment to protecting the environment as we move forward with reconstruction efforts. They have pledged to ensure that the project is consistent with the preservation of the island’s most important ecosystems.
And, perhaps most importantly, Bahamian investors will have an opportunity to participate in this project. It is very important to us that Bahamians are able to own their share of this exciting development.
The collaboration between the government of The Bahamas and GreenPointe Holdings goes beyond signing a contract. It signals our joint aspirations for a brighter, more resilient, and prosperous Abaco. We look forward to the positive economic impact this project i projected to have, which includes ongoing revenue streams from hotel and retail operations, and the further development of our tourism sector.
Let’s work together to bring Treasure Cay back to its glory as a symbol of Bahamian beauty and resilience.
Thank you.
