Developer Rafael Reyes, owner of Rockwell Island Development Group, is creating a luxurious retreat on Bimini, a Bahamian island just 48 nautical miles from the Florida coast, to cater to the growing number of affluent professionals in Miami. Currently ranked 33rd globally for its number of millionaire residents, Miami's elite can reach Bimini in as little as 40 minutes by boat, 25 minutes by helicopter, or 90 minutes by ferry.
Bimini currently lacks five-star amenities, but Reyes is rapidly transforming the island. Initial developments include a series of dining and beach clubs, featuring an outpost of Bonito from St. Barts and Aspen's Betula. Following this, 54 waterfront mansions priced upwards of $3.5 million will be completed by early 2025, each featuring a pool, 90-foot dock, and custom-built garages for Moke jeeps. Richard Branson is also set to open a beach club catering to Virgin cruise line guests nearby.
The crown jewel of the development, set for completion in 2026, is a Banyan Tree resort with the first overwater villas in the Bahamas, priced from $3,000 per night on four man-made islands facing a giant lagoon. This $245 million master-planned community, Rockwell Island, includes $80 million in public-private funding to expand Bimini’s airport for direct access via major US airlines.
Reyes aims to restore Bimini's former glory, reminiscent of the days when it was a popular escape during Prohibition and a favorite of Ernest Hemingway. Over the years, his company has acquired more than half the island, building a seaplane port, helipads, a ferry terminal, and the largest marina in the Bahamian Family Islands with 242 slips.
Reyes plans to attract yachts and mega yachts from the Mediterranean by offering an extravagant food and beverage experience, including familiar high-end restaurant names and a toes-in-the-sand beach bar with Italian cuisine. The Banyan Tree resort will feature overwater spas and restaurants, designed to cater to both residents and the yacht crowd.
The Banyan Tree resort will include 50 rooms and villas, designed as floating ivory jewel boxes with outdoor living areas and private plunge pools. The main pool and restaurant will be built on stilts over the ocean. This flagship resort represents a significant push for Banyan Tree into the Americas, aiming to compete with brands like Marriott and Hilton.
Bimini's development will be handled with environmental sensitivity, including transplanting coral to artificial reefs and designing lighting to avoid disturbing wildlife. Reyes is also preserving a portion of land as a mangrove buffer zone to support marine life and the fishing industry.
Reyes envisions Bimini as a Caribbean counterpart to the Hamptons, combining luxury and convenience with Maldivian-style overwater accommodations. The project will create around 200 jobs and includes infrastructure improvements like water treatment and power plants to benefit local communities.
Sign up for Florida of Tomorrow's free newsletter below to receive the latest real estate and new business information shaping the Florida of Tomorrow.
.jpg)