By: Staff Writer
October 18, 2024
The Four Seasons Resort at the Ocean Club on Paradise Island is undergoing $275 million worth of renovations thanks to a British based Ukrainian billionaire and one of his Florida based affiliates.
Sir Leonard Blavatnik, founder of Access Industries and Soviet/Ukrainian born businessman who holds citizenship in both the United States and United Kingdom, is working with Florida based Two Roads Development on the multi-million dollar expansion and renovations of the Four Seasons Resort at the Ocean Club.
Prime Minister of The Bahamas, Philip Davis, during a signing event at the Office of the Prime Minister, for the project’s go ahead and thanking Sir Leonard, said: “The signing of this Heads of Agreement marks another milestone in our island’s shared story of growth and progress. With a capital investment of $275 million, this project stands as a symbol of the resilience and dynamism of our economy.”
Davis continued: “This development, which will feature a luxury 75-unit condo hotel, managed under the prestigious Four Seasons, or Ocean Club brands, goes beyond simply enhancing our tourism offerings. It is about creating jobs, training opportunities, and career pathways for Bahamians.”
Taylor Collins, managing partner at Two Roads Development, said: “Part of the things that we’re most proud about is the 1,000 jobs that this will create during the construction period, and over 250 permanent jobs.
“It’ll have an immediate economic impact of over $300 million, and over the next 20 years will have an economic impact of over three quarters of a billion dollars.”
Sir Leonard and Access Industries have stumbled into some controversy over beach access to and from the Resort.
Beach vendors and beach goers use the easement to gain access to the beautiful strip of beach on Paradise Island called Cabbage Beach.
Access has erected a fence in October of 2023 that caused a mini riot as vendors and beach goers tore down the fence, warning Access not to erect similar obstructions to the beach again.
Access has promised to allow easement to the beach area. But not much is known what will happen during the construction of the Four Seasons or what will happen after the expansion.