Disney Cruise Line already has an agreement for purchase with the current owner of the Lighthouse Point property in South Eleuthera for a nearly half a billion dollar cruise port development, according to Company President, Jeff Vahle.“We are ready to go,” said Vahle. “We have an approved project. The Walt Disney Board has approved the investment at a second island and we have a contract with the seller, so we would like to open this site in 2022 or 2023.
Disney is seeking to develop the property as it looks to double the number of ships calling on ports in The Bahamas by adding three new ships in 2021, 2022, and 2023. Vahle said the company is only awaiting approval from The Bahamas Investment Authority to begin the project, which is expected to cost between $350 million and $400 million.
Disney has said the project will focus on conservation, where only 20 percent of the property would be developed and 120 to 150 permanent jobs would be created. Additionally, Vahle said the project will use sustainable design and building practices for the areas Disney intends to develop, and use solar power for much of its operation.
Check out this handpicked feature on a Historic US Virgin Islands Waterfront Project Underway.
