Treasure Cay Resorts: A Renewed Commitment to Abaco’s Revival

This article was written by Youri Kemp, Senior Business Reporter of The Nassau Guardian.

Treasure Cay Resort’s prospective new developer has reaffirmed its commitment to purchasing and redeveloping the resort, amid concerns from residents.

Gaynelle James, marketing director for GreenPointe Developers, told Guardian Business that the company has been communicating with residents of Treasure Cay through its Facebook community page, keeping them abreast of the purchase and future developments.

She pointed to a posting in the Treasure Cay Community group from July 7, which said: “GreenPointe Holdings, LLC, the prospective buyer of Treasure Cay, understands deeply what this place means to all who call it home, whether full-time or part-time. Like many of us, GreenPointe is eager to see progress, but is just as committed to ensuring it happens with the utmost respect for Bahamian laws, culture, and environmental standards.

“To do this the right way, GreenPointe is working hand-in-hand with a team of Bahamian attorneys, environmental consultants, architects, coastal engineers, and civil engineers to ensure every permit is properly prepared, submitted, and approved before any work begins. It has already invested significant resources into this process, and is hopeful that permits will be in hand by October. However, the timeline ultimately depends on Bahamian authorities, and may take longer.”

Ed Burr, CEO of GreenPointe and a 25-year homeowner in Treasure Cay, is deeply passionate about this project. He has shared his vision for a thoughtful revitalization of this beloved community and is committed to preserving the laid-back, barefoot island spirit we all love.”

Some residents responded to the posting by questioning the government’s slow movement on approving and expediting the necessary permits that GreenPointe would need. GreenPointe signed a heads of agreement with the government in September 11, 2024, and very little was said since then until now.

Beverly Brenner-Varela, a resident, wrote: “The Bahamian government needs to expedite the permits, build efficient electrical plants, and be a part of the team to help Treasure Cay.”

John Monaghan Jr. wrote: “What can we do as second-home owners and residents of the Treasure Cay area to nudge the Bahamian officials along? To those who are worried about what GreenPointe has planned, we are much better off with them compared to the Austrian guy, or some other developer that could come along. TC is too valuable to just sit there. We badly need improvements to the infrastructure, such as sewer, water, roads, etc. which has slipped badly under the current owners. The Bahamian government will not make those investments.”

GreenPointe’s post also said that once all approvals are in place, residents can expect to see the project begin taking shape.“GreenPointe is constructing a new wastewater treatment plant to support both future development and existing sewer infrastructure, including the 14 lift stations installed by WSC [Water and Sewerage Corporation] after Hurricane Dorian.

“This facility reflects GreenPointe’s commitment to environmental stewardship in Treasure Cay. In addition to treating wastewater, it will produce reclaimed water for use in irrigating the golf course, reducing freshwater demand, and promoting sustainable practices. There is also a marina rebuild, and plans include dredging and restoring the seawall, followed by a brand-new 163-slip marina. A new Tipsy Seagull bar and restaurant, a spectacular pool, a new Coco Beach Bar at its original site, and a pedestrian-friendly retail village with amenities like a fitness center and coffee shop are all envisioned. Plans also include dockside residences and opportunities for new homes or family compounds on beachfront, canal front, and golf course lots.

A complete rebuild of the golf course, clubhouse, and racket sports facilities (including tennis, pickleball, and padel) is also on the cards. GreenPointe is also exploring options for medical care and new commercial services like grocery and daily necessities.

“Above all, GreenPointe is focused on creating meaningful employment opportunities for Abaconians, and strengthening the Treasure Cay community for generations to come. Once all permits are approved by the Bahamian government and they receive a formal ‘notice to proceed’, GreenPointe will share detailed renderings with the community. In the meantime, GreenPointe is holding off to make sure everything shared is accurate and truly representative of the future we all hope to see for our beautiful Treasure Cay. Their priority is doing this the right way, with care, transparency, and respect.”