FrontRunners: Special Cay

<< Back to Robb Report, November 2006

    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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