Replay Resorts is worried it might not get the next step right at Ginn ser Mer
Palm Coast, FL – March 2, 2012 – Canadian-based developer for the former $4.9 billion Ginn project’s real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the development concept away from becoming another Atlantis or Baha Mar.
Bill Green, Replay Resorts’ chief operating officer, told Tribune Business that the company could not afford "to miss" with its initial plans, adding that its thinking was now more to emulate the Family Island-style of living epitomised by communities such as Green Turtle Cay and Hope Town.
Emphasising that Replay Resorts was proceeding cautiously with modifications to the masterplan for the almost-1,500 acres it controls in Grand Bahama’s West End, Mr Green said the developers were receiving ‘mixed signals’ as to what the international real estate market wanted.
He explained that the market had shifted from one that, pre-recession, was dominated by ‘investor buyers’ largely interested in maximising investment value and ‘flipping’ lots for profit, to one where ‘owner occupiers’ were becoming increasingly dominant.
Read More >>>> The Tribune [March 1, 2012]
Toby’s Commentary: It sounds like fluff. I’ve heard from some who have been at the project recently. Replay Resorts and Crave Real Estate have not been visible.