US$100-million Turks Cay Resort and Marina receives final planning approval

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US$100-million Turks Cay Resort and Marina receives final planning approval
Turks Cay Resort and Marina
Turks Cay Resort and Marina

(THE SUN TCI) – Detailed development permission has been granted by government for the construction of a six-storey, US$100 million luxury resort and marina in the Turks and Caicos Islands.

The Turks Cay Resort and Marina will be built on the former and historical site of the Third Turtle Inn development, in Turtle Cove, on the island of Providenciales.

The land on which the resort will be built is a very unique piece of property, stretching over 16.5 acres, with 780 linear feet on a cove, all of which is abutting the Turtle Cove Marina.

In the middle of the marina there is a small island called Diddle Cay which now belongs to the development. Prices will start in the early $600k’s for studio units with a make-up and mixture of studio, one-bedroom and two-bedroom units, as well as 11 luxury penthouses set over two floors with their own roof top swimming pools. There will be a total of 143 rooms within the resort.

The entire resort development will consist of condominiums, casino, spa, sporting facilities, restaurants, bars, retail shopping, a boardwalk, swimming pool and deck and a marina.

It also boasts 775 feet of beach frontage on Grace Bay and 2,300 linear feet of dockage. The property will be one of the lowest densities in the TCI.

The developer is Arik Kislin of Circle Holdings Limited. Hamilton Real Estate an associate of Savills International, is the exclusive listing agent for the sales and marketing of the boutique resort.

Sam Hunt, Sales and Marketing Manager of Hamilton Real Estate and the Turks Cay Resort and Marina, has already been meeting with interested buyers as the developer gets ready to break ground at the Turtle Cove site.

Commenting on the property’s sales progression, Hunt said: “We currently have two sales offices, one at our new Grace Bay location and we have an on-site sales villa located on the beach right next to the property in Turtle Cove. From these two locations we have been meeting interested persons who come in and view a model of what the entire resort will look like upon completion. They can also view the property next door to the Villa office.”

He added: “We also have brochures outlining every one of the amazing amenities that will be offered at the Turks Cay Resort and Marina. Basically, anything you need to know with regard to the selling and marketing of the property, we will provide you with that information at either our Grace Bay office or our villa sales office.”

Kislin said: “The Turks and Caicos Islands has done a fantastic job of marketing itself – in really getting the word out to the rest of the world that they are open for business for new developments and opportunities. With Turks Cay Resort and Marina we will offer a very high end product with the amenities that the upper tier market around the world is really looking for in a vacation getaway. This is how the Islands have been presenting themselves, and that is what I am going to deliver for the country.”

Arik Kislin is a very successful real-estate investor, and part owner of the Gansevoort hotel and Alerion Aviation, and several other businesses. He is also a philanthropist.

He started in the real estate business in 1991, developing over four million square feet of New York City’s real estate in the 1990s.

Through his former company Around the Clock Management, Kislin and his partners developed the Chelsea Market Complex in Manhattan’s Meatpacking district from 1991 to 1999.

Since then that property has become an icon for Manhattan, New York City and was recently sold a month ago to Google for $2.4 billion.

In 2001, he co-developed the Gansevoort hotel group in New York. The first property was the Gansevoort in the Meatpacking District, and shortly thereafter another Gansevoort in Miami.

Kislin was then invited by the owners to complete the deal for the Gansevoort in the Turks and Caicos Islands in 2008.

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