Disney Signature Experiences President Jeff Vahle addresses questions regarding the company’s proposed development at Lighthouse Point in South Eleuthera.

NASSAU, Bahamas--Disney Cruise Line already has an agreement for purchase with the current owner of the Lighthouse Point property in South Eleuthera for a nearly half-a-billion-dollar cruise port development, according to company president Jeff Vahle.

“We are ready to go,” said Vahle, during an interview with The Nassau Guardian on Thursday. “We have an approved project. The Walt Disney Board has approved the investment at a second island and we have a contract with the seller, so we would like to open this site in 2022 or 2023.”

Asked to elaborate on that contract, Vahle said, “We have an agreement for purchase with the current owner, just under contract and for, I think, a period of time we have the option for purchase of the property.”

He added that Disney has had that contract for “quite a few months.”

Disney is seeking to develop the property as it looks to double the number of ships calling on ports in the Bahamas by adding three new ships in 2021, 2022 and 2023.

Vahle said the company was only awaiting approval from the Bahamas Investment Authority to begin the project, which is expected to cost between US $350 million and $400 million.

Disney has said the project will focus on conservation, where only 20 per cent of the property will be developed and 120 to 150 permanent jobs will be created.

Additionally, Vahle said the project will use sustainable design and building practices for the areas Disney intends to develop, and use solar power for much of its operation.

Republished with permission of The Nassau Guardian. ~ Caribbean News Now! ~