Bobby Ginn Still Moving Forward in The Bahamas
Stalled on most fronts by a stagnant luxury real estate market, credit woes, and lawsuits, Bobby Ginn is still moving forward at Ginn sur Mer
Palm Coast, Florida – November 19, 2008 – Sales offices are shut down at four of Bobby Ginn’s projects, as these properties are tied up by liens under a defaulted credit facility with Credit Suisse. One of these projects Is Ginn sur Mer, a $4 billion resort at West End on Grand Bahama Island. Rumors abound about the potential outcome of negotiations between Ginn-LA and Credit Suisse but all the company will say is that negotiations are continuing. Amid all, Bobby recently signed a contract with Grand Bahama Power Company to jointly fund a $12 million, 22 mile power line intended to serve Ginn ser Mer.
It recently became known that Ginn’s quest to turn Battle Mountain, in Minturn, Colorado into an exclusive ski and golf resort with 1700 residential units (homes and condos) has been put on the back burner. He has three years to come to the town of Minturn with his final plans. Not coincidentally, the only other private sky and golf resort in the US has filed for bankruptcy. Last week, The Yellowstone Club in Montana filed for Chapter 11 bankruptcy protection after being unable to secure financing with its bondholders and creditors. The Yellowstone Club membership list includes the likes of Bill Gates and Dan Quayle.
Tying into this story is an interesting RUMOR*. An Orlando contact tells me that Bobby Ginn was recently seen (within the past few days) at the Reunion Resort with an individual, possibly from the Middle East. I was told that Bobby and his guest had just returned from a trip to Minturn (Battle Mountain project) and were in Orlando to tour Reunion, after which they were to board a plane for Ginn sur Mer.
* Rumor: (noun) A current story or statement without confirmation or certainty as to facts
Unbelievable
I can’t believe you call yourself a reporter when you print innuendo and rumor that is borderline racist. I will keep reading though.
racist??
I’ve read this article several times and fail to see how reporting that Bobby has met with a Middle Eastern person can be termed as a racist commentary. It is a description-thanks for whatever info you garner on a subject of interest. I’m glad Bobby is reaching far and wide to keep his dream alive.
"Joint Funding"
Beware of Ginn funding (jointly or otherwise) any infrastructure projects. In reality, Ginn passes the cost onto the property owner through higher lot prices &/or special assessments, usually without full (or any) disclosure. Ginn has done it before — they are pros at spending other people’s money and taking credit for funding projects.
What’s Up Doc!
Sounds like Bobby is trying to sell Ginn Sur Mer to a Middle Eastern client who wants to purchase water front property. I don’t see anything wrong with that. Let’s hope the client does his due diligence before he signs on the dotted line.
Racist??
What on Earth was racist about the article? It’s a description of someone’s place of origin. People are turning into the biggest bunch of wimps when it comes to being “politically correct”. Saying that someone is “possibly from the Middle East” is no different than saying someone is “possibly from California”. People need to stop being so sensitive!
With that being said, this isn’t a site for a rant so I will stop.
I’m glad someone has an interest in buying from, partnering, JV’ing, etc. with Ginn.
Not Racist
I took it (or maybe hoped) it meant someone with serious cash (let’s say an oil man for example) might want to buyout Ginn’s in these 3 locations and take ownership.
What was the question
Sorry B, but I must side with the majority on the racist issue. It’s not like he used the N-word, or the M-word, or the F-word, or even the I-word or the A-word…..he just tried to identify what part of the world this person was from. B you should back off a little on the racist thing, or people will call you the I=word or M-word.
J
middle eastern aquisitions
racist, forget that
why is anyone surprised that bobby is meeting with a middle eastern looking to purchase assets at discounted pricing?
the same people that are surprised that
we have a president named hussein.
Middle eastern businessmen are purchasing assets all across the sectors of our economy, and as they should be with some of the wealth they hold!!
get used to it, these meetings and/or transactions will only increase in occurence!
Reunion
Reunion is still selling real estate. Doing fairly well too considering the economy.
I concur
I concur, I fail to see any racist overtones. With that aside, can anyone share how many of his Projects are in Flagler County and at what stage of development and/or completion are they? Thank you all very much.
Watch out Minturn
The Town of Minturn annexed Bobby’s property with hopes and dreams of a brighter future. This future is very uncertain despite the developer’s reassurances to the people who live in Town. Now the Town’s Planning and Zoning department is in charge. Yikes, before Bobby started the annexation procedure, he took the now head of the P&Z committee on hunting excursions. Shortly after their vacations together, he was appointed head of the P&Z group. This is a guy who doesn’t even live in the Town of Minturn but travels to the Mountains bi weekly to attend the P&Z meetings. I really don’t like the ethics of this company at all! Not to mention the ethics of those now in charge of the project. I am sure it will only be a matter of time before you can add Minturn to the list of Towns Bobby has ruined! Go back to the Bahammas or better yet – take off on a life raft – the world would be better off w/out you!
Watch out Minturn
The Town of Minturn annexed Bobby’s property with hopes and dreams of a brighter future. This future is very uncertain despite the developer’s reassurances to the people who live in Town. Now the Town’s Planning and Zoning department is in charge. Yikes, before Bobby started the annexation procedure, rumor has it that Bobby took the now head of the P&Z committee on hunting excursions. Shortly after their vacation together, he was appointed head of the P&Z group.
This is a guy who doesn’t even live in the Town of Minturn but travels to the Mountains bi weekly to attend the P&Z meetings. I really don’t like the ethics of this company at all! Not to mention the ethics of those now in charge of the project.
Southwest Asia AKA Middle East
It’s just a geographical area that includes:Armenia,Azerbaijan,Bahrain,Egypt,Georgia,Iran,Iraq,Isreal,Jordan,Kuait,Lebanon,Oman,Qatar,Saudi Arabia,Syria,Turkey,United Arab Emirates, and Yemen. Who knows, he may show up in Palm Coast and we can ask him what counrty he’s from. You can bet if he buys, it’s with the money we all put into our vehicles fuel tanks. That would be great as the more the rest of the world invest in the USA the quicker we recover from the downturn. Remember the housing dollar turns 16 times, so it will realy help.
I think the racist comment was tongue in cheek
Everybody. Thank you for comming to my aid, but I really think that the comment about my article being racist was in jest. I hope I’m right.
I think the comment about racist was tongue in che
Everybody – thank you for coming to my aid but I think the comment was meant in jest. I hop I’m right.
Comment on racist content was in jest
Everyone – thank you for coming to my aid, but I think the comment was in jest. I hope I’m right.