$650m resort plan 'not what we want' as Eleuthera model

By Neil Hartnell, Tribune Business Editor — The Tribune, Page 2 & B4, Wednesday April 8, 2026

An ex-Bahamas National Trust (BNT) chief yesterday disclosed he has "laid it out" for the US developer behind a $650m resort destination proposed for Governor's Harbour that his ambitions are "too large, too dense and not what we want for Eleuthera."

Eric Carey, president and chief executive of One Consultants, who now also lives on the island, told Tribune Business he had voiced his concerns directly to Jeff Jacobs, chairman and chief executive of Jacobs Investments, and argued that the residential real estate component, in particular, needed to be "downscaled" from the planned 350-plus units.

Describing the encounter with Mr Jacobs as "very cordial," he added that most Governor's Harbour and Eleuthera residents have "no appetite for a casino" — even the small, restaurant-sized amenity promised by the US gaming and hospitality. And the former BNT executive director said he also warned that any gaming facility will likely face opposition from the island's religious leaders on "moral" and ethical grounds.

Through Jacobs Investments, and its Jacobs Entertainment subsidiary, Mr Jacobs owns and operates resorts and casinos in US destinations such as Reno and other Nevada cities, plus Colorado and Louisiana, but Mr Carey warned that developing in The Bahamas — especially in the Family Islands — is much different from the US and comes with its own set of challenges.

However, he told this newspaper that Mr Jacobs may "win hearts and minds" in Governor's Harbour and the wider Eleuthera community if he delivers on promises to preserve, and create, beach access for Bahamians and residents along with his planned "community pathway" that is intended to run throughout the area.

And Mr Carey said he informed the J Resort proponent that it was vital he become involved with the community, unlike many other developers, as this is "critical to win trust" — otherwise he will be perceived as just another investor "coming in and out quickly."

Disclosing that the meeting with Mr Jacobs was arranged via Janeen Bullard, the Bahamian environmental consultant and JSS Consulting principal who is conducting the necessary Environmental Impact Assessment (EIA) studies for the development, Mr Carey said it took place after he obtained the December 2025 presentation setting out plans for a 600-acre development "stretching from the Atlantic Ocean to the Caribbean Sea."

"I laid it out for Mr Jacobs," Mr Carey told Tribune Business. "We believe it's too large, too dense for Eleuthera. That's not what we want." The US developer, though, told Mr Carey what he has confirmed to this newspaper — that the proposed 18-hole golf course on a 177-acre site located near Governor's Harbour airport has been "put on hold for a variety of economic, environmental and competitive reasons."

"I told him we have issues with the golf course, which he says he is no longer considering," the ex-BNT chief added. "I asked if it was off the table. He said it was on hold. I asked what that means — is it on hold or off the table — and he said it is off the table, and he is not going to do a golf course; it didn't make any sense."

As for the proposed "boutique" gaming facility, Mr Carey added: "Presently, most of the people I spoke to have no appetite to have a casino.... I mentioned that to him. I said to him that is one he will have to get through the community because the leaders, especially the religious leaders, will have moral and ethical issues with the casino. What I'm telling you is the community don't want a casino. But he seems to be stuck on that, and is going to go forward with that."

Mr Jacobs, in his response to Tribune Business inquiries, acknowledged that the proposed boutique casino would need to be approved by Bahamian regulators such as the Gaming Board. He said the proposed casino will be "the size of a restaurant" and far smaller than those at Atlantis and Baha Mar.

The US gaming developer added that the J Resort casino will be modelled as "a James Bond-style gaming salon" to give wealthy, high-spending visitors an extra incentive to visit Governor's Harbour and give the destination a "must see" vibe.

Mr Carey, though, said he had asked Clay Sweeting, minister of works and Family Island affairs, who is also the local MP as the representative for south and central Eleuthera, for his "views on the casino." He added: "Clay did tell me that he was not a fan of the casino, and will be guided by local sentiment — especially if there are concerns from the religious community."

Mr Sweeting did not respond to Tribune Business calls and messages, seeking to confirm his position, before press time last night. However, Mr Carey said he had urged Mr Jacobs to downsize his ambitions for Governor's Harbour and the wider central Eleuthera area — particularly the "five resort-related neighbourhoods" containing more than 350 total vacation residential properties.

"I left Mr Jacobs with this: If your development is going to go forward, it needs to downscale. You don't need hundreds of homes," Mr Carey told Tribune Business. "They should be Baker's Bay-style homes; large estate homes, family, exclusive. That's what the market should be, not hundreds of homes."

"I also told him that this will not be like some of the developments that he has done in the US. You're coming into an island with different development limitations and opportunities and environmental limitations, and there's also the issue of labour. Where are you going to get all the workers that will be needed?"

Disclosing that they parted on good terms, and that he and Mr Jacobs will likely meet again, Mr Carey added on a positive note: "He said he's going to be very pro public access to his beaches. I told him that if he does that he will win friends in the local community, as people are very upset about beach access being closed off."

"I also said to him that a lot of developers come in and don't get involved in the community. I reflected that, growing up in Eleuthera, we had home owners on Windermere Island, Cotton Bay and Banks Road who were great supporters of the community and philanthropists, developing clinics and other amenities. I told him: 'That's what you've got to do to win the trust of the community otherwise they will see you as another developer coming in and out quickly.'"

Mr Jacobs, in his e-mailed response to this newspaper, voiced willingness to finance a public-private partnership (PPP) with the Government that will create "a dedicated circulation route for bicycles, golf carts and pedestrians" throughout the Governor's Harbour area that he is calling a 'community pathway.'

And creating, and maintaining, beach access for Bahamians and residents also features in his plans.

"We envision the pathway providing public connectivity throughout Governor's Harbour from the Caribbean Sea to the Atlantic Ocean," Mr Jacobs said. "We envision the community pathway being owned by the Government of the Bahamas and located on current and future government right of ways."

"We will be donating dollars to the Government for a pilot project of the community pathway, and we hope in the future that its strong popularity will cause the Government to join us in investing in this quality of life and tourism-building amenity."

"In our December 2025 project summary we state that our project is dependent on public circulation from Banks Road/ Alexander Boulevard to our property where we locate a public restaurant and create a permanent public beach easement on the north end of French Leave Beach. We have also acquired a 50-foot wide piece of beach access on the south section of French Leave Beach, which will contain a second permanent public access to the Atlantic Ocean," he added.

"We are committed to continuing this circulation north on Old Banks Road, creating world class public as well as private spaces along the ocean. The good news is that further research has revealed there is an Alexander Boulevard right of way extension already in place connecting Alexander Boulevard to our property. We only need to pave it, and we have asked the Government of the Bahamas not to accidentally give it away to others, which would deny us public road circulation to our land on the north end of French Leave Beach."

Many Bahamians, wary of previous investors who have failed to deliver on their promises of Bahamian jobs, economic activity and wealth creation, plus numerous Family Island mega resort projects that have either stalled or collapsed, tying up valuable land and infrastructure for years, were also just as vocal with their online comments on The Tribune's Facebook page and elsewhere.

Dionne Benjamin-Smith wrote: "No thank you. We've had enough of this tired archaic mega resort business model, and it certainly is not suited for the Family Islands. No thank you."

"Whoever is encouraging this, are they blind? Can they not see this is overkill and not self-sustaining on an island that can barely take care of its residents? Energy, water, staffing? Can they not feel the temperature in the room? Can they not see this is not the future?"

"Enough of this visionless, antiquated thinking. We need new vision and innovation and wisdom. No more ridiculous election promises that are worth nothing." Our Governor's Harbour added: "This is not the right kind of development for Eleuthera."

Dorian Curtis Jr added: "Eleuthera's appeal — its pristine beaches, clear water, authentic Bahamian culture, natural beauty and a genuine sense of community is the foundation of what makes this place worth calling home and worth visiting. This project is not it."

"This is truly a life, environment and social-altering experience not for the betterment of Eleuthera. Our Family Islands do not need these mega resort or casino concepts like New Providence or Grand Bahama. Why are we continuously trying to kill the golden goose that lays the egg?" Another said: "Why do so many foreign investors always want to come here and ruin what it was that attracted them in the first place?"

Mr Jacobs' efforts to lead the "the growth of downtown Reno" in Nevada, the US, which he cited as an example of his long-term development approach to projects that benefit local communities, has attracted mixed media coverage in the US. While the promises of billions of dollars in investment have been widely reported, several online articles have questioned the progress made and whether any development is taking place other than the demolition of pre-existing buildings. Some even argued in late 2025 that the project "remains a mirage in the high desert."

However, as for Eleuthera, Mr Jacobs told Tribune Business he is interested in partnering with others to deliver "consistent, reliable power" to central Eleuthera. He added that he was already in talks with Kimley Horn, a US-based utility and engineering company with global reach, on developing "a self-contained power solution" for the island, proposing a private-public partnership (PPP) that can help pull central Eleuthera "up by its bootstraps."

"A 100-mile long Family Island with two aging generators has historically created a difficult situation for the people of Eleuthera," Mr Jacobs said. "For example, a 'project' could be created and owned by a co-operative of Central Eleuthera commercial properties."

"In the near term the co-operative members would be responsible for their own relationship with the grid, primarily back-up generators. However, for the long-term we also plant the seeds for utility success defined as accessible, reliable, power and water."

"We are currently in discussions with local power/water managers as well as Kimley Horn regarding a self-contained power solution that will include an underground loop as well as power generated 70-80 percent solar. I envision this co-operative of commercial property owners growing with new members over time, allowing more infrastructure to be put in place annually until we finally reach the point where the self-reliant system can be turned on," he added.

"When turned on, this system will potentially take all co-operative property off the BPL grid, reducing stress on central Eleuthera residents. This is more than a concept. We are prepared to contribute dollars to a Central Eleuthera commercial property co-operative to acquire land in future solar farms. I believe that it could take 30 years to complete this system, and another 30 years to retire the capital needed to build it."

"I anticipate that at some point in time the system would be turned over to BPL, perhaps in 70-80 years. This gives BPL a growing and reliable second utility presence in Central Eleuthera. BPL involvement will be important, particularly because government powers will be needed in certain cases to acquire leases, as well as to acquire certain large parcels of land in Central Eleuthera needed for solar farms."