Legendary Marina Resort: New $80m Project to Change the Face of Yachting in the Bahamas

Close to 200 Bahamian workers are estimated to be employed as a result of the Legendary Marina project in the Bahamas.

An exciting project for the yachting community–especially for the many frequenters of the Caribbean–will soon be coming to fruition at the Legendary Marina Resort in Nassau, Bahamas. Situated at Blue Water Cay at New Providence Island, this project will include a “full-service marina and dry storage facility”, which means big things both to the yachting world and to the country of the Bahamas.

According to the website, the “extraordinary family-friendly club caters to the yachting lifestyle, with an unprecedented service offering. An advanced, uniquely available dry rack facility promises to offer the best boat storage in the Bahamas. [The] new boatyard [is] the only one in Nassau equipped to haul and launch boats larger than 100 feet. Additionally, the marina will have onsite features like pools, waterfront restaurants, members’ only lounge, hotel, convenience store, fuel, and more.”

So what does all this mean? For one, the $80 million development will bring a lot of good to the Bahamas. The Nassau Guardian explains that about 80% of the 220 workers to be assigned to this project will be locals of the Bahamas–meaning more jobs and more income into the pockets of the Bahamian people. Additionally, it is predicted that the home value of property in the relative area of the new construction will increase. In the article, it is mentioned that “homes in urban locations with proximity to employers, restaurants, mass transit, shopping, and recreation hold high value and can positively affect home value. Furthermore, in the international property industry, it is understood that certain elements add immediate value to a property. For instance, properties with an ocean view may be worth ten to 15 percent more than a home a block away. Marinas may be the most valuable asset.”

Another financial outcome of the Legendary Marina Resort project will be the more direct effect it will have on the local government and economy. The Nassau Guardian also reported that the project’s environmental impact assessment (EIA) claimed that “the development has the potential to create $158 million in revenue for the government over 25 years. The development of the Legendary Marina Resort at Bluewater Cay has the potential to stimulate the New Providence economy, as well as the economy of wider Bahamas.”

In terms of the yachting industry as a whole, news of the new marina may be a literal sight (and site) for sore eyes. Not only will this be a new tourist destination, which can be a nice change for travelers who tend to return to the same Bahamian spots year after year, but this also means there is more capacity to store and dock more boats, meaning more visitors (which, consequently, also adds to the Bahamian economy). As one of the top yachting destinations for 2022, the Bahamas will likely continue to see this steady growth.

To see the full details on all the features and amenities of the new Legendary Marina, visit the website linked here. Interested in finding a yacht of your own? Contact one of our brokers to get started on your search today.