Private Islands Archives • Mosko Realty

Latest Real Estate Trends…Private Islands!

07/05/2020 by subscriber_test

Even though the Covid-19 pandemic has changed the lives of many of us, there are some things that have not changed. The Bahamas continues to offer distinct estates and elaborate private islands. These private islands are being sought after because they are serene, easily Continue Reading

MOSKO Realty - The Bahamas

1 week ago

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MOSKO Realty - The Bahamas

2 weeks ago

Medical school: ‘Nothing brings more life than university’#• Targets 1,000-strong students by decade’s end#• Students, faculty to each inject $25k-$35k into city yearly#By NEIL HARTNELL#Tribune Business Editor#[email protected]#A medical school investment will be “the catalyst for Freeport’s renaissance” through injecting $200m into the city’s economy during its first decade, its principals have told Tribune Business.#Western Atlantic University Medical School, in e-mailed replies to this newspaper’s questions, said “almost nothing brings more life and vibrancy to a small city than a university” with each student and faculty member expected to respectively generate average per capita spending of $25,000 and $35,000 annually.#With the medical school aiming for a 1,000-strong student population by 2030, based on Western Atlantic’s projections this group could alone account for $25m in collective annual spending on housing/rent, food, transport#and entertainment.#Detailing a $100m total investment in constructing the medical school’s campus over a 50-acre site, located on East Sunrise Highway behind the Lucayan Medical Centre, the principals argued that while other projects may have a similar economic impact there are few that can “lift the entire community” as it hopes to do through “the energy and vitality” of its student population.#Explaining the phased approach to building out a campus that will ultimately feature 240,000 square feet of buildings, Western Atlantic said: “The initial shorter-term investment of phase one will be over $30m, and will continue to increase upward to about $100m as Phases two and three come online over the next few years.#“As the first students arrive this January, it is estimated that each student living in the Freeport community will provide $25,000 per annum in revenue for Grand Bahama on housing, food, entertainment, goods and on-island transportation, while each expatriate faculty member, plus spouse/family, will spend on average $35,000 per annum.#“Over the longer-term, between construction, jobs and spending by students and faculty, Western Atlantic University Medical School’s total economic contribution in our first ten years is anticipated to be approximately $200m.”#The first phase construction, which began eight weeks ago, will cover 36,000 square feet of classrooms; laboratory facilities; a Centre for Academic Success; library; administrative offices; study and lounge space for students; and other student-support areas. The medical school is targeting a year-end completion for this phase so that it can welcome its first 50-strong student intake by January 2022.#“In regard to economic diversification, almost nothing brings more life and vibrancy to a small city than a university,” Western Atlantic University Medical School added. “It is not just the students themselves who will matter so much to the Freeport economy, but their family and friends who will visit as well. Each student will spend 20 months in Freeport, leading to a number of repeat visitors.#“While other businesses can bring similar economic impact to Freeport, university students bring an energy and vitality that we hope will help lift the entire community. This is why... founder and chief executive, Peter Goetz, has frequently stated his belief that Western Atlantic University School of Medicine will be the catalyst and at the forefront of Freeport’s renaissance.”#According to a project timeline seen by Tribune Business, the second phase $15m investment will involve construction of a 24,000 square foot building aimed at medical tourism, while the final $67m third phase will see completion of another 168,000 square feet of medical education buildings.#Total construction investment is pegged at $115m across all three phases, with phase two starting next January and finishing by December 2022 and the final stage stretching from January 2023 to August 2024.#Some 100 construction jobs and 100 full-time posts will be created during the current phase one. Another 100 construction jobs and 75 full-time posts will emerge from phase two, with both construction and permanent jobs doubling as a result of the third phase. That latter stage will create 200 construction jobs and 175 full-time posts, taking the total number of permanent positions to 350.#“Near, or at, 100 percent of the construction work thus far and into the future will be performed by Bahamian contractors and workers,” the medical school said in response to Tribune Business inquiries. #“We are pleased that thus far, many of the workers are residents of Grand Bahama who were off island looking for work in Nassau and other locations. In a number of instances, our jobs have allowed families to reunite, something that is very important to our founders.” Some 50 of the first phase’s 100 construction jobs have already been created.#Western Atlantic University Medical School is aiming to have a 200-strong student population by end-2022, with the goal of doubling this by the following year and reaching the 500 mark by 2024. Thereafter it is aiming to increase its intake by 100 per year to reach the 1,000 point by 2030.#Revealing that the medical school’s origins date back to 2018, Western Atlantic said its five main founders “have educated and helped place more than 25,000 graduates into successful careers as practicing allopathic physicians” - a status it described as “the gold standard in the US and Canada, and even more so around the world”.#“Western Atlantic University Medical School will continue to build upon this substantial record of success to help meet the shortfall of doctors in the US, Canada and The Bahamas by educating outstanding, patient-centred physicians,” it said in response to this newspaper’s questions.#“Western Atlantic University Medical School’s vision is to be a premier leader in medical education, particularly among medical schools located outside of the US. By constructing a state-of-the-art campus, hiring outstanding faculty, offering best-in-class student services, and offering clinical rotations to our third and fourth-year students at respected US clinical partner hospitals, Western Atlantic University Medical School will be training culturally and medically sophisticated students who will serve and positively impact both the North American and global healthcare communities alike.”#Besides Mr Goetz, others deeply involved with the project include Bill Colgan, Metro Real Estate’s chief executive and managing partner. Joseph A. Flaherty, formerly dean at the University of Illinois Colleges of Medicine, and ex-dean and chancellor at for Ross University School of Medicine, will serve as the medical school’s president. Paula Wales is executive dean.#Explaining why Freeport was selected for the project, Western Atlantic said: “First, location really matters, and Grand Bahama is just 60 miles off the Florida coast, as compared to most of our peer medical schools that are more than 1,000 miles from the US.#“Additionally, Freeport’s infrastructure is similar to that of several US coastal/beach communities and will allow students and faculty from the US and Canada a shorter adjustment period of living abroad.#“Second, as a vibrant, culturally diverse city, Freeport offers our students real-world opportunities to make a positive impact from the onset of their medical school careers. Western Atlantic University Medical School students will have the unique experience of being able to broaden their outlook through both academic and non-academic initiatives within the local community.”#Asked about the medical school’s accreditations, Western Atlantic said it has received “candidacy status accreditation” by the Caribbean Accreditation Authority for Education in Medicine and Other Health Professions (CAAM-HP).#The process from candidacy status to full accreditation takes time, it added, with the latter usually depending on a review conducted early in the programme’s fourth year. “Accreditation by CAAM-HP is a rigorous, peer review process that examines all aspects of a medical programme,” it added.#“The CAAM-HP board, an independent and autonomous body of professionals, only certifies medical schools that are operating at the highest levels of industry standards.”#Confirming that Western Atlantic’s faculty will be concentrating solely on teaching, the medical school asserted that there were no plans to practice and “displace or take away any physician jobs in Freeport”. #It added: “Freeport is our pre-clerkship campus. Students will complete their clerkships at our partner teaching hospitals in the US. That said, we are hoping to collaborate with some local physicians, practices, clinics and the hospital so that students may receive some introduction to clinical medicine and patients while in Freeport.#“Local physicians who take on students would need to be appointed Western Atlantic faculty members, and either the physicians, clinics and/or hospital(s) would be provided stipends for their time and, in some cases, the use of their facilities.#“For the present time, our sole focus is building and launching Western Atlantic University School of Medicine. While we have discussed the possibility of what would be a natural alliance and partnership with medical tourism, our immediate attention is on Western Atlantic University School of Medicine.” ...

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