By RUPERT MARKUS, Guardian Senior Reporter

rupert@nasguard.com

One of the most far-reaching redevelopments to be conceived in The Bahamas will create thousands of jobs and bring about a dramatic rise in tourism income. The ambitious renaissance plan is expected to involve some $400m, that will completely revitalise downtown Nassau and place it firmly on the world's stage. The master plan, drawn up by Bahamian stakeholders, has been aimed at halting economic decline.

The document makes it clear that there are two parallel tracks of action the government must take in order to initiate the redevelopment of downtown Nassau and the Harbour – both of which are equally important in obtaining real and sustained results. The first track consists of the actual construction im-provements, catalysts projects, and programmes that provide tangible results to convey the message that the downtown area is changing. These efforts help build the momentum for continued improvements. The second element addresses the institutional and policy framework that will provide consistent administration and management of the plan's recommendations, regardless of changes within the government. The stakeholders say Bay Street has been languishing economically and physically but the trend has not gone unnoticed. The recent assessments conducted by the Ministry of Tourism, the Nassau Tourism and Development Board, and the Nassau Economic Development Commission (NEDC), concluded with two major points:

Immediate action to ident-ify and initiate near-term and long term enhancement projects.

Public-private partnerships were essential to project development and a funding mechanism, such as a special assessment district, was needed. In the summer of 2004, Prime Minister engaged EDAW, an international de-sign and planning firm, to develop strategies to make his vision for downtown Nassau a reality.

The charge issued by the Prime Minister, was to recapture the vitality and romance of Nassau of years ago, by establishing downtown as an attractive retail district for residents and visitors, a cruise ship port, and a 24-hour tropical neighbourhood.