What about the project Bahamas condos at Buttonwood in Central Eleuthera? Here are condo photos, rates and a progress report.
I had walked that large tract of land several times and decided to get my information straight from the horse's mouth... the developer, Matt Simon.
Interviewer: Matt, please give me a general description of Buttonwood Reserve where your condos are being build on the Out-Island of Eleuthera in The Bahamas.
Matt: The Buttonwood Condos are located 10 miles north of Governors Harbour in Central Eleuthera. Or in other words, it's located just south of the village of James Cistern. See red arrow just below...
We have fifty acres of land extending from the Caribbean beach on the West, to a pink-sand Atlantic beach on the East.
The condominiums are on a ridge overlooking the Caribbean, facing West to capture the sunsets. And the ridge is connected to the Atlantic beach by a private road.
All of these Eleuthera condominiums - see latest construction photos and rates below - will have expansive and unobstructed views of the Sea.
I: Tell me about the condominium units.
Matt: They are two-bedroom, two-bath units with about 1600 square feet of living space, which includes about 400 feet of decks.
The rooms of these Bahamas condos are oriented toward the Caribbean side of Eleuthera, which is the western side. The view from the great room is through an eight-foot sliding glass door, plus two six-foot windows.
The kitchen is open to the great room, and has its own windows as well.
The view from the master bedroom is through a six-foot bay window with a window seat.
The guest bedroom also has a bay window with window seat.
The decks wrap around the building for views in all directions.
I: How are your condos priced?
Matt: Prices are $475,000 for first-floor units and $595,000 for second-floor units.
I: How are the building protected against hurricanes?
Matt: We are building with steel, not wood. The buildings are engineered and rated to withstand 200 mph winds. For comparison, a Category Five hurricane, the most powerful hurricane, has winds of 150 mph and up.
The windows will be made of laminated hurricane glass - two layers of glass bonded to an interlayer of PVB [a type of vinyl]. Not only can these windows survive a hurricane, they can't be broken with a sledge hammer.
I: Are you planning any amenities?
Matt: Yes, we have built a resort-style pool, and will be building a tennis court and also a small boat dock on the Caribbean side. We also have a pond and nature preserve.
I: Other resorts are going up or have just been completed in Eleuthera. What's different or special about your Bahamas condos at Buttonwood?
Matt: The fact that the land extends from the Caribbean to an Atlantic Beach. This enables our owners to enjoy the best of both seas.
Here is an aerial view of Buttonwood's Atlantic beach.
Another particularity is that the land is so varied, including a quiet, breezy ridge with sunset views, and a pond and nature preserve in the low areas.
A real asset is our private access to the wonderful Atlantic beach. That beach is three miles long and almost always deserted, without a single structure on it.
Finally, most of the new developments on Eleuthera are very expensive, with prices that are out of reach for all but the very wealthy. Buttonwood Reserve units are moderately priced at US$ 475,000 and US$ 595,000.
I: When do you break ground?
Matt: We have completed the first four-unit building and sold all of the condominiums in it. We are now renting out the condominiums on behalf of the new owners, and they are renting very well.
The second building has been completed in 2014 - see photo above - and those units are available for sale.
I: Matt, you are the developer of this project. What is your professional background?
Matt: I've been developing real estate since 1983. Most of my projects have been in Massachusetts, where I've developed several hundred condominium and rental units.
I: Who's idea was the Buttonwood Reserve project and who are the main technical and financial players in it?
Matt: The idea was mine. I put together a small group of investors to finance the project. They are mostly people who have invested in past projects with me. I've had a lot of technical assistance from folks in Nassau and here in Eleuthera.
I: How many of your Bahamas condos will be making up one building and how many buildings are you intending to place on your total land of fifty acres?
Matt: Phase I will be eight buildings each with four units, i.e. 32 condos. There may or may not be later phases.
I: According to your plans all the Bahamas condos at Buttonwood will be close to the Caribbean side - the south-western side - of the island.
The Atlantic side - the north-eastern one - with its fine pink sand beach is about 0.6 miles away. How will condo owners get to the Atlantic side?
Matt: By car, golf cart, bicycle, or even on foot. As I mentioned, each unit comes with a golf cart garage.
I: Thanks very much for this informative interview, Matt.
By the way, Matthew Simon is the author of a fascinating e-book entitled How to Buy and Sell Real Estate in the Bahamas
If you are looking for more information about the new condos project at Buttonwood, please type into the field below. After finishing click the *Click here to send your message to Mr. Simon* bar at the bottom. Your message will go to him directly.