Freeport, Grand Bahamas – June 6, 2024 – Today, Six Senses Grand Bahama, a new resort and residential community spearheaded by Weller Development Partners, achieved a significant environmental milestone for sustainable luxury living and ecotourism on Grand Bahama. The Department of Environmental Planning and Protection (DEPP) approved the project’s Environmental Impact Assessment (EIA), which paves the way for construction to commence later this year and underscores the Six Senses brand ethos for keeping environmental and social responsibility at its core. The new resort and residences will create employment opportunities for Grand Bahamians, encourage terrestrial and marine sustainability, and engage the surrounding community while protecting the land and adjacent oceans for future generations of locals and visitors to Grand Bahama.
From the start of the development process, Weller Development Partners has maintained a goal of transparency and collaboration with local stakeholders.
“In our commitment to the sustainable development of Grand Bahama, the EIA process symbolizes our dedication to the long-term well-being of the island and its people. As we move forward, we are driven by a shared vision of creating a destination that harmoniously blends luxury, nature, community involvement and responsible development,” said Marc Weller, Founding Partner and President of Weller Development. “We are thankful to the Bahamian government and to the Grand Bahama Port Authority for their leadership and partnership in attaining this critical milestone. We look forward to delivering a world-class resort and residences and ultimately providing a boost to the local economy while generating hundreds of jobs for Bahamians.”
The EIA process in The Bahamas was established to safeguard the country’s natural surroundings and environment from the impacts of development. As part of this process, the stakeholder engagement meeting encouraged community feedback and Weller Development’s diligence through this public process demonstrates its genuine interest in the success and longevity of Grand Bahama and its people. The residents of Grand Bahama share in Weller Development’s concern for the environment’s preservation and are eagerly anticipating the commencement of construction, projected to begin in 2024.
Sustainable Practices at the Forefront
During a public stakeholder meeting held on January 30, 2024, Weller Development Partners executives, Marc Weller and Madhvi Shukla, reviewed the plans for the $250 million, luxury Six Senses Grand Bahama resort and branded residential project within the Freeport area of Grand Bahama. The development will consist of 64 resort keys, up to 28 branded residences, a Six Senses Spa, multiple restaurants, an event space, and a beach club. The sustainable luxury resort will be developed under the Six Senses brand and management, who is a global key player in the sustainable hospitality industry with locations in some of the most unique, natural environments across the globe.
In addition to Weller Development Partners and Pegasus Capital Advisors, the development’s investment partners also include the Global Fund for Coral Reefs, one of the largest private equity vehicles to date dedicated to climate resilience, coastal ecosystems, communities, and coral reefs globally.
“To protect our coastal regions like Grand Bahama, we need thoughtful solutions that build more sustainable communities, support conservation and restoration efforts, and spur economic development,” said Craig Cogut, founder, chairman and CEO of Pegasus Capital. “We are thrilled to partner with Weller Development and many others on bringing the Six Senses Grand Bahama to life in a way that puts sustainability and the local community at the forefront.”
The development will generate employment opportunities during construction and operation (~200 permanent local jobs) with a focus on local job creation and gender equity, while the project itself will also contribute to the local economy by supporting ancillary businesses on the island. The development team will also prioritize local sourcing, ensuring the use of sustainable seafood and supporting local suppliers.
The resort’s hurricane-resistant coastline and sustainable energy, water and waste practices will act as an exemplar for future sustainable tourism models on Grand Bahama and across the Caribbean. The project will be LEED certified and aims to strengthen climate adaptive capacity with a low environmental footprint and support restoration and conservation efforts. The development team is implementing various sustainability practices to promote climate resiliency and aid the restoration of adjacent reefs.
Project construction will utilize renewable materials for the resort and branded residences that are ethically sourced to meet sustainability goals inherent to the goals of the development and the Six Senses brand. All built structures will be raised and designed to be resilient against storm surges and hurricane-force winds. The dune landscape will be restored along the beachfront, and invasive species will be removed and replaced with lush, native landscapes in open spaces and integrated throughout the site. Additionally, single-use and disposable plastic is banned across the resort. The site will also be pedestrian in nature to minimize automotive traffic and paved surfaces.
The resort village will dedicate additional land and sea areas as preserves, safeguarding the environment and augmenting the region’s natural beauty. A portion of the resort’s revenues will be earmarked for initiatives such as marine conservation and coral restoration, in collaboration with local government and non-governmental organizations. The overarching vision for the resort is to serve as a role model for sustainable tourism, not just on Grand Bahama but throughout The Bahamas and the Caribbean.
A Catalyst for Change
Iram Lewis, MP for Central Bahama had this to say about the Six Senses Grand Bahama Project, “I’m really excited about it, and I want to say thank you to the Weller group for the confidence expressed in Grand Bahama. They decided to take a bold step and come to our island and do this major investment. I do believe they are perhaps that missing link that we’ve been searching for. This is a partner that is going to cause us to turn that corner, based on what I saw tonight. Based on the concept, based on their pillars of community, environment, and sustainability, as well as returns, everything is pretty much covered. So, I’m excited and I look forward to seeing it happen.”
Construction is slated to begin in the second half of 2024, with an anticipated opening in 2026. Six Senses Grand Bahama is poised to redefine luxury travel, offering discerning guests an unforgettable escape that prioritizes environmental responsibility while celebrating the natural wonders of Grand Bahama.
For more information visit: grandbahamaresidences.com.
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About Weller Development Partners:
Weller Development Partners is a dynamic and innovative full-service development firm focused on luxury hospitality, residential, experiential placemaking, and large-scale mixed-use projects. Led by Founding Partner and President Marc Weller, our leadership team offers a wide range of expertise and experience to tackle the most complex real estate developments. At the heart of the company ethos is a triple-bottom-line approach to development, designing strategies that are financially viable and provide returns to investors while also providing benefits to the surrounding communities and the environment. With an extensive portfolio of luxury hospitality properties, distinctive mixed-use development projects, and a proven track record of successful and celebrated ventures, Weller Development Partners delivers value and results, no matter the complexity or odds. For more information visit: WellerDevelopment.com.
About Pegasus Capital Advisors, L.P.:
Pegasus Capital Advisors, L.P. is a leading global private markets impact investment manager. As the first U.S. private equity fund manager accredited by the Green Climate Fund, Pegasus Capital is dedicated to fostering sustainable and inclusive growth while providing attractive returns for investors. Founded in 1996 by Craig Cogut, Pegasus Capital has invested over $2 billion across 7 private equity funds focused on sustainability, health, and wellness. Explore more at www.pcalp.com.
About Six Senses:
Part of IHG Hotels & Resorts, Six Senses serves as a changemaker and maintains a leadership commitment to community, sustainability, emotional hospitality, wellness, and crafted experiences infused with a touch of quirkiness. Whether an exquisite island resort, mountain retreat, or urban hotel, the vision remains the same: to reawaken people’s senses so they feel the purpose behind their travels and ultimately reconnect with themselves, others, and the world around them. Six Senses operates 25 hotels and resorts and has signed a further 42 properties into the development pipeline.