New Providence, The Bahamas – Spearheaded by master developer and real estate visionary Roger Stein, the New South Ocean Development Company’s future $1 billion mixed-use resort project is located on 385 acres of pristine shoreline along the southwestern coast on New Providence Island in Nassau. The exclusive development will encompass a large upscale casino hotel, an intimate five+ star boutique hotel, a lifestyle hotel brand, a mega yacht marina, spa, retail outlets, a world-class tennis center and residential components. The Blue Shark Golf Club, a 7,200 yard, 18-hole championship course recently re-designed by Greg Norman is scheduled to open in late 2008/early 2009.The resort is the third and final location designated by the Government of The Bahamas for a full-scale casino and hotel operation on New Providence. Mr. Stein saw the potential to expand in New Providence and create an upscale retreat with convenient airlift from U.S. gateways. The resort is just a 10 minute drive from Nassau’s International Airport and the destinations has held strong ties to long-established North American and European tourism.Resort development component plans are as follows:Casino Resort Hotel(s): A 1500 room beachfront property including hotel condominium units, casino, large pool complex, spa, conference and entertainment venues and retail and service space. Luxury Boutique Hotel: An exclusive, ultra-luxury beachfront five-star resort, featuring a large world-class spa, gourmet restaurant and beachfront serviced villas. Lifestyle Hotel: A beachfront, boutique hotel catering to the hip and chic market. Golf Course: The 7,200 yard Greg Norman signature Blue Shark Golf Course has plans for a world-class clubhouse and related facilities. Mega Yacht Marina with Marina Village/Retail Space Residential Estates: This component consists of secure residential estate lots, with frontage on the golf course Luxury Residences: To be serviced by the luxury resort adjacent to the golf course and the canal with docking. Racquet Club and Tennis Facilities: A world-class racquet club and tennis training center, run by world famous tennis star will serve as an amenity for visitors and residents.ABOUT ROGER STEIN: Roger Stein, a long time entrepreneur, is the Managing Director and Master Developer of The New South Ocean Development Company LTD, created in 2005 based in New York City. In his previous role as Director of Business Development of Plaza Associates in Raleigh, North Carolina, Stein oversaw negotiations for the firms’ real estate interests. He was involved in the development of the 1.4 million square-foot Crabtree Mall, the largest mall in Raleigh, as well as the Siena hotel in Chapel Hill, a winner of AAA Diamond Awards for Excellence in Food and Rooms.Also an accomplished musician, noted music producer and owner of indie record label Iguana Records, Stein has worked with many international recording artists including Keith Richards, The Neville Brothers, The Meters, Bonnie Raitt, Branford Marsalis and others. Mr. Stein holds a Law Degree from Duke Law School and a B.A. from Skidmore College. He currently resides with his wife and daughter in New York City’s Soho and in The Bahamas.
And in the news from insurers – Bloomberg: Alexion Tests Orphan Drug Limits This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription. The Wall Street Journal: Big Pharma’s Delicate Dance On Drug Prices If a strategy works in the pharmaceutical industry, then you can bet someone will take it to its furthest extreme. Alexion has been a pioneer in two hot industry trends: marketing rare-disease, or “orphan,” drugs and jacking up prices. It sells its drug Soliris, which treats rare blood disorders, for as much as $525,000 a year. Its newest drug Kanuma, which treats a rare genetic enzyme deficiency, could cost even more per patient per year, according to the U.K.’s health-care cost watchdog, known as NICE. (Nisen, 2/19) Are Drug Developers Experiencing An R&D Revival? The Wall Street Journal reports on big pharma’s “delicate dance.” Meanwhile, news outlets also explore market trends related to orphan drugs and more on questions regarding the association between cancer and some diabetes drugs. Before he died early last year of pancreatic cancer, Stephen T. Johnson filed a lawsuit against Merck for not telling him his disease might be a side effect of taking Januvia, the company’s blockbuster diabetes drug. The 63-year-old Philadelphia police officer knew his life was at an end, but he wanted the product labeling changed to warn other diabetics. (McCullough, 2/19) Oscar Health Insurance Corp. CEO Mario Schlosser has found the strategy he says will build his startup into a million-customer player in the health insurance industry: use tight, exclusive networks with hospitals to sell competitively priced insurance in perhaps 30 U.S. markets. (Tracer, 2/19) Drug makers are enjoying a research-and-development revival after a fallow period. Last year the U.S. Food and Drug Administration approved 45 new drugs, more than double the number in 2006. But the industry also faces growing criticism of the prices it charges for new drugs—some cancer therapies cost as much as $150,000 a year—as well as repeated price increases for older drugs. Critics say high prices are putting drugs out of reach for many patients and straining health-care budgets. (Loftus, 2/21) The Philadelphia Inquirer: Cancer Questions Over Popular Diabetes Drug Raise Furor Bloomberg: How Health Insurance Startup Oscar Is Going To Get To 1 Million Members