MSC, Concord Wilshire pursue redevelopment of Grand Lucayan, Grand Bahama
The long-awaited transformation of Freeport’s Grand Lucayan Resort has finally taken shape.
Concord Wilshire Capital, the Miami-based developer that acquired the property about a year ago, has entered into a definitive agreement with CTL Maritime, the cruise division of MSC Group, to redevelop a key section of the resort into an exclusive destination for MSC Cruises and Explora Journeys guests.
Under the agreement, CTL Maritime will acquire the 20-acre portion of the Grand Lucayan complex currently occupied by Reef Village and transform it into the new MSC Beach Club, designed to expand the portfolio of destinations for the MSC Cruises and luxury Explora Journeys brands.
MSC also announced plans for a $450 million terminal project on the island.
Demolition has already begun on the site, marking the first significant on-site activity at the long-stalled resort since Concord Wilshire took control of the site.
Specific amenities for the beach club have not yet been detailed, but the project is part of a broader, multi-phase redevelopment of the Grand Lucayan space. A second cruise resort and casino marina complex is also planned, and a second Ancient Waters Cruise Resort will be built simultaneously, designed to accommodate additional major cruise line passengers. The cruise resort and beach club combined are expected to attract more than a million guests each year.
MSC Beach Club represents the latest installment of the cruise line’s approximately $1.5 billion investment in the Bahamas, which also includes the Freeport Harbor expansion and Phase 3 of the ongoing Ocean Cay marine sanctuary.
Bahamas Prime Minister Philip Davis called the agreement “a defining moment for Grand Bahama and the future of our islands,” adding that redevelopment of Grand Lucayan has long been a national priority.
For Grand Bahama, which has been waiting for a reliable route from its Lucayan site, the MSC partnership is a sign that one of the Caribbean’s most prominent and stalled developments is finally up and running again.
