Ghana to build race village
US-based foundation, Take Back Our Routes (TBOR) in support of Ghana Ocean Racing Club (GOR), has signed a Memorandum of Understanding with the Cape Coast Municipal Assembly granting it to become master developers for the first ever African Race Village and Marina City at Fosu Lagoon.
The historic city with its new race village will bid to become a stopover host city for the 2017/18 Volvo Ocean Race in which Ghana Ocean Racing is working to enter.
The site plan calls for the environmental remediation of the Fosu Lagoon and over 1 million square feet of mixed commercial, business, retail, and residential development including a marina to accommodate over one hundred 10-70 meter berths, global boat racing events, regattas, and services for the local fishing sector.
TBOR as the master developers is partnering with global investment and remediation firms to assist in the financing as well as the environmental clean-up process.
Although pre-sales of leaseholds, property plots for developers and marina moorings will officially begin soon after the public private partnership is executed the interest in this development is high driven by the potential the Ghana Ocean Racing Club will bring as the anchor to the historic development.
TBOR along with its partners has formally submitted its paperwork is to complete the process creating a Public-Private Partnership for the development of a RaceVillage and MarinaCity that will host the Club’s sailing headquarters, a national sailing academy, and other mixed use developments. This is in accordance with the National Policy on Public Private Partnerships and is being conducted with the support of local leadership and traditional council in CapeCoast. The government or city will not incur any direct or contingent financial liabilities as this project will be financed privately in exchange for the land grant partnership at Fosu Lagoon. With a signed Memorandum of Understanding and the support of the CapeCoast local and regional leaders, TBOR has submitted its request to the PPP secretariat.
“Our goal is to enter the Volvo Ocean Race and to put in a bid to host a future Volvo Ocean Race stopover at CapeCoast” in 2017/18 and 2020 says Managing Director James Ragland Darden. Prior to any remediation or building, the team will conduct an extensive social and environmental impact assessment.
“The venue for Football is its stadium and pitches while the venue for sailing is a marina. Like an Olympic Village or the World Cup this race village and marina city will be a world class purpose driven development that is a one stop shop to put the historic capital of Ghana on the development map” says Eyram Hevi, co-skipper of GOR. “Bringing development to other regions and cities was encouraged by all of the Ministers our delegation met with during the last few weeks” says co-skipper, Agbeli Ameko.