Florida Real Estate Company Abandons Grand Bahama Development

Florida real estate giant Ginn Company has decided to abandon its plans to develop a multi-million dollar development project in Grand Bahama. According to the Nassau Guardian, the planned Florida real estate development was to have included a golf course, a condo-hotel project, a marina and 1000 lots for single-family homes.

This Florida real estate development was done in in part by delays from the local government in resolving some of the outstanding issues required to finalize the Heads of Agreement contract. After the project was essentially placed on hold for two weeks due to government inaction, Ginn Company announced that it was pulling out.