By Gerrino J. Saunders
Journal Staff Writer

Prime Minister Philip Davis was on Abaco this week to sign an agreement that
would ultimately help that island take another significant step in the
continued growth and development following the devastation of Hurricane
Dorian in September 2019.
The government signed an agreement with GreenPointe Holdings LLC that is
expected to revitalize Treasure Cay and be a part of the stimulus for the
continued turning point for The Abacos and its economy.
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. 
Prime Minister 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. 
“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,” said Mr
Davis.

The Prime Minister said the investment in the Treasure Cay community
represents more than a financial commitment, but 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.” 
The Prime Minister said the government is “steadfast” in its commitment to
ensuring that Bahamian workers are prioritized at every stage of the project,
and that they welcome GreenPointe’s initiative to provide training
opportunities for Bahamians and reduce dependence on foreign labour.
As for the environmental impact assessment Mr. Davis said, “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 Prime Minister noted that the collaboration between the government of
The Bahamas and GreenPointe Holdings goes beyond signing a contract, but
signals their joint aspirations for a brighter, more resilient, and prosperous
Abaco.
The government anticipates positive economic impact from the project
including ongoing revenue streams from hotel and retail operations, and the
further development of the tourism sector as Treasure Cay returns to its “glory
as a symbol of Bahamian beauty and resilience,” said Mr. Davis.