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FrontRunners: Special Cay

For decades, fishermen have been drawn to the waters off Chub Cay (www.chubcay.com), the southernmost of the Bahamas’ Berry Islands, to do battle with billfish. Until a few years ago, the island held little more than an 86-slip marina and an old clubhouse. In 2004, however, boat-show organizer Kaye Pearson and some colleagues purchased the island and launched an aggressive development program. In June, Chub Cay Club Associates opened the first half of a planned 220-slip marina that can accommodate yachts as long as 200 feet. The group now is erecting a new clubhouse, improving the island’s 5,000-foot airstrip, and constructing the first of 69 villas, which begin at about $1.3 million each. It also plans to build 50 townhouses that will be priced in the $500,000 to $800,000 range and to offer 19 expansive waterfront lots beginning at $1.5 million each. Pearson expects to complete the project in 2009; only 132 acres out of 870 will be developed, with the rest remaining in their natural state...

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