One of the most exciting urban redevelopment projects in the Caribbean recent memory has broken ground in Nassau.

The Pointe, the $200 million project in downtown Nassau, has officially broken ground on a seven-acre waterfront site.

The project will include a mixed-use development including residential and retail space.

It is being developed by New World One Bay Street, a wholly-owned subsidiary of China Construction America.

The first phase of the Pointe was a large parking garage with bottom-floor retail.

China Construction completed the first phase of the project, a 900-space parking garage with first-floor retail, last year.

The second phase of the project will include a 100-room, eight-story condominium project with oceanfront residences, slated for completion in September 2018.

It will also include a 150-room branded resort and spa with a business center, dining and retail amenities; that project is slated to debut in November 2018.

Upon completion, The Pointe will also include a marina and yacht club, 50,000 square feet of retail and office space, restaurants, upscale shopping and entertainment venues including a rooftop bar and a movie theater.

The Pointe is expected to employ 200 Bahamians during construction and create 500 permanent jobs upon completion.

“The Bahamas Government is very appreciative of the commitment, resolve and cooperation demonstrated by CCA,” said Bahamas deputy Prime Minister Philip Davis.  “In its role as General Contractor for the completion of construction at Baha Mar added to this development, we thank CCA for its demonstrated confidence in the Government and people of The Bahamas.”

Nassau is in the midst of a significant urban renaissance.