Sterling Commons’ residential product sold out; project opens in January

Sterling Commons’ residences are 100 percent sold, while the $250 million development’s office and retail spaces are mostly spoken for, President of Sterling Global Advisors Khaalis Rolle told the media on Friday.

According to Rolle, Sterling Commons, which will feature the country’s largest superyacht marina, is expected to have its grand opening in January 2022.

Rolle gave Deputy Prime Minister and Minister of Tourism, Aviation and Investments Chester Cooper a tour of Sterling Commons on Friday to show him just how far along the development has come.

“We wanted to invite the new minister of tourism and deputy prime minister out here to show him the economy has some very bright spots and the project that we’re doing on Paradise Island is one of those bright spots,” Rolle said.

He explained that during the height of the COVID-19 pandemic, work on the structure carried on, employing about 150 people.

When opened, Sterling Commons along with the Sterling Hurricane Hole Marina will employ almost 70 people, Rolle said, while the restaurants, stores and offices will take the number employed at the property as high as 300.

Sterling Commons has already contracted 700 Wines and Spirits as an anchor store and the buildings will also house a clinic, pharmacy, supermarket and two restaurants. 

Rolle said the retail spaces are 92 percent leased while the office spaces are “almost sold out”.

Cooper said he was impressed that Sterling was able to continue with its project even as the COVID-19 pandemic weighed heavily on The Bahamas’ economy.

“I’m happy to be here celebrating this achievement so far,” said Cooper. 

“I think it’s noteworthy that during a difficult pandemic, where almost everything stopped in the country, this project continued, construction continued and we are at a stage where we can hopefully have some superyachts coming in soon.

“It’s not just the employment, but it’s the spin-off, the economic benefit of a project like this as well as the enhancement of the product for tourists, residents and entrepreneurs. This will breathe some new life into Paradise Island and Hurricane Hole.” 

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source https://thenassauguardian.com/sterling-commons-residential-product-sold-out-project-opens-in-january/