Above: Marina Residences at Albany broke ground on its first three buildings Monday (BIS Photo)

By the Caribbean Journal staff

The Bahamas’ Albany luxury residence project broke ground Monday on its new Marina Residences at Albany development.

The new plan could create 650 new jobs in New Providence; upon completion, the Albany project’s overall investment value could exceed $1.3 billion.

“It’s one thing to talk about a vision,” Prime Minister Perry Christie said. “It’s quite another thing to actually see it manifested and then to see the linkages that are being established to make this a real, total integrated and, obviously, very coordinated development going on here.”

The groundbreaking involved the first three buildings of the Marina Residences at Albany.

Albany is developed by the Tavistock Group, which is headed by investor Joe Lewis.

Golfers Tiger Woods and Ernie Els were also partners in the development of the Albany project, which is located on 600 acres on the southwestern end of New Providence island.

“Albany will continue to attract some of the best, the wealthiest to our country and, when they come, they have the opportunity to see other parts of the Bahamas and invest in other parts of the Bahamas,” Christie said.