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New Abaco Airport to Open April 2014

April 14th, 2014

The new Marsh Harbour International Airport Terminal is scheduled to open at the end of April, 2014. More flights, larger planes, new airlines and new origin cities on the way!

View the Tribune article

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Schooner poised for $30M ‘big burst’

January 10th, 2012

The Nassau Guardian reported on January 10th that 2012 will be a year of substantial growth for Schooner Bay Village, in which the development will go ‘from construction to community’, with an estimated $30 million spent on further infrastructure, new homes, amenities, and the project’s first businesses. Developer Orjan Lindroth and head of marketing James Malcolm provide commentary:

Schooner Bay Village

Major milestones this year for the South Abaco development include up to 30 homes completed, installation of infrastructure and the introduction of the project’s first businesses.

Construction is now booming with 12 homes at various stages of completion on the island and another four on the mainland.

Orjan Lindroth, the key developer behind Schooner, told Guardian Business an additional 16 are in the pipeline for the coming year.

“We should have somewhere around 30 houses this time next year,” he said. “Schooner will become a village, on the way to becoming a town. The heavy civil work involving the harbor is done so it’s much easier to see it move from construction to community.”

James Malcolm, head of marketing, called 2012 a “big burst”.

“Now we’re getting powered up with the opening of the harbor, and everything has been very deliberately orchestrated,” he told Guardian Business.

Malcolm added that up to 20 boats should also be moored at Schooner or more by the end of 2012. A fuel dock should be installed this year and Schooner is now the only harbor within 20 miles in any direction.

Less glamorous but just as essential to the development is the installation of infrastructure now underway. Electricity, water, and sewerage represent a major capital investment, Malcolm explained, providing utilities for up to 140 lots. Costing in the range of $8 million to $10 million, contracts have already been awarded, he said.

Meanwhile, a complement of commerce is expected to follow the housing and infrastructure boom. Schooner has already started to host symposiums in an effort to identity worth candidates for its first “12 core businesses”. Blackfly, the elite bone fishing lodge, has begun construction at the mouth of the harbor,and is slated for completion in January of next year.

Lindroth noted there will be four different food and beverage outlets in place by the end of 2012, including Blackfly, a deli and a general food store.

“We are very focused on food because we think it’ll be a tremendous driver for those to see and understand,” Lindroth added.

“With these four food outlets we want a representation of excellence in local cuisine.”

One of the more impressionable food and hospitality outlets for 2012 also includes the seven-bedroom Beach Club, Malcolm said.

“We’re putting a pool in, expanding the deck, building tennis courts and the building next door will be a bed and breakfast,” he told Guardian Business.

Beginning this year, Schooner is also offering weekend packages for prospective investors to check out Schooner for themselves and stay at the accommodations.

“This is really intended to be sales driven, but it’s also intended to give them the chance to experience the place, not to do the tour, so to speak,” he said.

Malcolm said the development has “literally come to life” as residents move into their homes.

View the article
January 10, 2012
by Jeffrey Todd
Guardian Business Editor

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$100M Serenity sees spark in investment

January 5th, 2012

Serenity Point’s project manager, Gustaf Hernqvist, was recently interviewed by the Nassau Guardian regarding increased momentum at Schooner Bay and Serenity Point. Noting strong Canadian demand, increased activity at Schooner Bay village, substantial infrastructure investment in Abaco, and new sales and reservations at Serenity Point, he also explained that plans were underway for the construction of Serenity Point’s Club House, designed by Cooper Johnson Smith:

Serenity Point Club House

Momentum at Schooner Bay and price slashes have sparked renewed interest in Serenity Point, Guardian Business understands, with work expected to begin on the development’s clubhouse in early 2012.

Stakeholders in the South Abaco development arebanking that this initial build-out will prove to be a catalyst for other investors.

Gustaf Hernqvist, the project manager for Serenity Point, said demand peaked at the end of last year. Over the last two months, two beachfront lots were sold and deposits were received for three others.

“That means we can start on the clubhouse,” he explained. “Those first sales are very important. It brings credibility to the investment and confidence. Nobody wants to be the first and people want to know there will be a community of neighbors.”

By this time next year, Hernqvist told Guardian Business Serenity Point should have at least two homes built and the clubhouse will be complete. Expected to cost between $700,000 and $1 million, this centralized location for Serenity Point is free of charge to residents and includes tennis courts, lockers, an infinity pool and other amenities. For a community of 46 homes, projected to be a $75 million to $100 million build-out, the project manager felt these extras are “unique for its size”.

It also has 24-hour security and a concierge service, including home maintenance, airport transfers and boat rentals.

Hernqvist attributed the development’s recent strides to a strong Canadian demand. With a more stable economy than their southern neighbors, this market, combined with lower prices, is expected to attract more potential investors this year. At the end of 2011, Serenity Point reduced its prices by about 37 percent. Ridge and hilltop lots now start as low as $300,000, Hernqvist added.

“Despite the economy being bad, things are starting to move a bit more. We are seeing a lot of developers and competition out there,” he told Guardian Business. “But we are still stepping up our efforts.”

The development has also recently partnered with Cooper Johnson Smith, a well-known architectural firm in Florida. Serenity Point hopes to tap a more innovative yet traditional feel for the future homes in the community.

Another positive sign for Serenity Point is the considerable government investment in South Abaco. Recent initiatives, such as a new power plant, $30 million airport terminal and a major government complex, including the prime minister’s office, are all slated for completion this year. Likewise, the public sector has chipped in as well with the construction of new business ventures.

But perhaps the most encouraging development for Serenity Point is the noted successes of Schooner Bay, the project’s intimate neighbor. The rise of the harbor, homes and 12 core businesses in the area will no doubt spur investors into the up-and-coming area of South Abaco.

“When you look at South Abaco, there is a community feel developing with a central location. At Serenity, our residents will benefit from Schooner because we’re only a golf cart ride away,” he said. “Schooner is definitely something we see our owners taking part in.”

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January 05, 2012
by Jeffrey Todd
Guardian Business Editor

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Project Targeting $75-$100 million dollar build out value

December 5th, 2011

Serenity Point’s project manager, Gustaf Hernqvist, was recently interviewed by the Nassau Guardian regarding increased activity at Serenity Point and on Abaco. Price reductions of up to 37%, new architectural designs by Cooper Johnson Smith, as well as increased development at neighbouring Schooner Bay Village are all cited as factors contributing to Serenity Point’s recent home site sales and additional reservations:

An upscale Abaco real estate development is targeting a $75-$100 million total value when its 46 home sites are fully built out, telling Tribune Business yesterday that the project expects to kick into high gear in the New Year after completing its first sales last month.

Gustaf Hernqvist, Serenity Point’s project manager, said increased construction activity at the adjacent Schooner Bay development in south Abaco was helping to create a critical mass that encouraged potential buyers both projects were for real.

Telling Tribune Business that construction on Serenity Point’s clubhouse was set to begin imminently, and that the first homeowner was anticipated to start building within the next six months, Mr Hernqvist said that reducing the project’s real estate prices by up to 35 per cent – in response to market conditions – had also helped to stimulate buyer interest.

“We’ve found Schooner Bay has switched into a new gear, completing the harbour,” Mr Hernqvist explained. “Over the last four-five months the pace has been incredible, with all the construction. The construction of the hotel is underway, a restaurant is coming soon, and a harbourmaster’s office is open.

“These are all considerations for owners at Serenity Point; to be able to get into a golf cart and go to places next door. The difference between us and Schooner Bay is that we’re a gated community.”

Access to Schooner Bay’s amenities and facilities is a key selling point for Serenity Point, which is being created as a boutique, upmarket real estate development featuring its own clubhouse, affinity pool, tennis courts and 24-hour security.

To make Serenity Point even more attractive and stimulate buyer activity, Mr Hernqvist said the developers had cut their lot prices by up to 35-37 per cent, dropping a beachfront location from an initial $850,000 to $535,000. Beachfront, and hillside sites, start at $300,000 for a half-acre lot.

“Since all these activities at Schooner Bay have been taking off, we’ve had a lot of inquiries,” Mr Hernqvist told Tribune Business. “As of last month, we sold two beachfront lots. Another beachfront lot was reserved, and two ridge lots have been reserved with deposits.

Read the full article
December 05, 2011
by Neil Hartnell

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Contract Signed for New $27 million Abaco Airport

September 2nd, 2011

The Tribune reports that the new 51,000 sq. ft. multi-million dollar Abaco Airport Terminal, Air Traffic Control Tower, and Fire/Crash Rescue Facility are expected to be completed in 2012:

The Prime Minister with cabinet ministers flew to Abaco yesterday to officially sign a $27 million contract to construct the new Marsh Harbour airport terminal…

Mr Ingraham said Central Abaco should be recognised as an important economic centre in the Bahamas.

“The continued development of various industries on this island over the years places Abaco in a favourable position for further growth,” he said.

The multi-million dollar contract was awarded to FES Construction Company Limited, which is expected to complete the project in a little over a year. “The Government is committed to ensuring that Central Abaco has the infrastructure befitting its stature,” said Mr Ingraham…

The Prime Minister also announced that before the end of this year construction will begin on a new hospital and road to connect to the S.C. Bootle Highway and Forest Drive.

Works Minister Neko Grant said that with a population increase of 21 per cent since 2000 and the considerable developments in numerous industries, Abaco is in a good position for further growth when the economy turns around.

“The airport terminal project will further enhance Marsh Harbour Airport’s capacity to provide quality service to the growing number of residents as well as visitors to this island who will use this facility,” said Mr Grant…

The 51,000 sq ft terminal will include 22 counter positions, state-of-the-art luggage scanning system, pilot briefing room, two restaurants, a lounge, VIP lounge, eight retail shop spaces, two kiosks, long and short term parking areas along with taxi and employee parking areas, said Mr Grant.

Read the full article
by Celeste Nixon
September 02, 2011

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Abaco wins 2nd Best Island in World’s Best Awards

August 9th, 2011

Abaco debuted on Travel & Leisure’s prestigious “World’s Best” list this year, placing 2nd in the Best Islands in the Caribbean category, and missing first place by under half a point.

The World’s Best Awards have been running annually for 16 years and are widely regarded as an essential guide of traveler’s trending preferences for the most desired locations worldwide and the companies best suited to carry them there. The results for best islands are based on reader’s responses to the following criteria: natural attractions, activities/sights, restaurants/food, people, value.

In a summary of the findings, editor in chief Nancy Novogrod stated that it is clear based on the results that “places that convey a sense of authenticity and adventure are ruling the day once again in Travel & Leisure’s World’s Best Awards”.

The results of the survey are presently listed on Travel & Leisure’s website, and in the cover story of the August issue of the magazine, on newsstands as of July 22. They will also be featured in the first-ever World’s Best Awards 2011 interactive iPad edition.

As Southern Abaco continues to develop, with the official opening of Schooner Bay Village’s Harbour in June, and continued progress at Serenity Point, it’s only a matter of time before Abaco takes first place!

Schooner Bay Village Under Construction - Harbour Opened

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South Abaco Development Growth Linked to Stable Economy

February 10th, 2011

Residential and commercial real estate developments in South Abaco have expanded steadily over the past two years. Despite the residual effects of the global economic and financial downturn, The Bahamas’ domestic economic conditions stabilized during 2010, with the economy expected to grow by 2% to 2.5% in 2011, according to Prime Minister, the Rt. Hon. Hubert Ingraham, in his address to the 2011 Bahamas Business Outlook.

The past year clearly demonstrated South Abaco as an environment favorable to the strengthening and diversification of the nation’s economy:

With 90% of its infrastructure complete, Serenity Point’s environmentally friendly residential community is one of the many success stories of economic growth in South Abaco:

The community is designed for luxury using the latest in sustainable technology, with features such as:

  • Design techniques that save energy and preserve water
  • Solar-powered golf carts
  • Indigenous tropical landscaping

OceanHome Magazine highlighted Serenity Point as a Development of the Month, Publisher’s Choice. And The Bahamas Investor covered Serenity Point’s development as an example of the resurgence currently being enjoyed by Abaco—one of the fastest growing islands in The Bahamas.

With work steadily underway at Serenity Point and the neighbouring commercial center of Schooner Bay Village, the community is looking forward to another year of growth and prosperity in South Abaco.

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The Abaconian: Serenity Point’s Infrastructure is 90% Complete

February 3rd, 2011

Jennifer Hudson’s article in the December 15th issue of the Abaconian features Serenity Point’s builder’s program and notes that 90% of the infrastructure is already in place.

The high-end development of Serenity Point will offer its residents world-class facilities and, with the Builder’s Programme, homeowners have the option to either use their own architectural service and builder or engage the services of the pre-certified partners such as Chancey Design Partnership or Ryan Archer, a local partner on Abaco.

Mr. Walton Chancey, architect and managing partner of Chancey Designs, and his interior designer wife explained, “We promote a more contemporary design for how we live today. People are buying the view so we believe that the homes should be open with lots of glass tying the outdoors with the indoors … When second homeowners are in the market for a new home, they need the assurance that someone responsible is overseeing their entire project. We can provide that for them.”

The Serenity Point builder’s program package is available to parties interested in building a home at Serenity Point and features a variety of home options depending on the location within the community.

Read the Full Article [PDF Page 27].

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The Abaconian: South Abaco Growth Is Taking Off

January 17th, 2011

The December 15th Abaconian featured an article by Canishka Alexander about Serenity Point’s November 26 Open House and how Gustaf Hernqvist, senior sales and marketing director for Serenity Point, sees South Abaco’s future.

In general, South Abaco is an area that is really taking off, Gustaf said, as he listed the names of Schooner Bay and Delphi Club Fishing Lodge as well. “You’re looking at Schooner Bay, and they’re feeling that same enthusiasm. You’re looking at Delphi Lodge, which is obviously not a real estate development, but it’s business in general, and they are getting a lot more bookings. It’s just a positive feeling on Abaco,” he beamed. “Some things people may not like and so on, but at the end of the day there’s investment confidence, and that’s what we’re really looking for.”

“Our Open House is a bit of a reflection on that positive energy that we sense is coming out now,” he stated. “I get the same comments from everyone that things are really starting to move.”

Read the Full Article [PDF Page 18].

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Robb Report: Vacation Homes: Sweet Serenity

November 23rd, 2010

This month’s Robb Report features an article by Bailey S. Barnard about luxury resort developments in South Abaco, including Serenity Point.

The Abaco Islands are downright deserted compared with some Bahamian destinations. But over the last few years, the laid-back Abaco chain—a pristine collection of islands and cays in the northeastern Bahamas, about 200 miles off the coast of Florida—has become one of the Caribbean’s hottest locations for luxury resort developments, the latest of which include three exclusive vacation-home communities.

The newest of the Abacos’ private communities, Serenity Point, overlooks a five-mile stretch of beach on the archipelago’s largest island and hub, Great Abaco. The 40-acre community opened sales earlier this year for its 46 inland, hilltop, ocean-view, and beachfront homesites, which range from about a half acre to more than 1.5 acres and are priced from $230,000 to $1.2 million. Buyers can work with their own architect (following community guidelines) or use one of the island-contemporary designs conceived by Chancey Design Partnership of Tampa, Fla., specifically for Serenity Point.

Read the Full Article.

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