Fri | Nov 16, 2018

More waterfront homes on the way

Published:Wednesday | January 31, 2018 | 12:00 AMAvia Collinder/Business Reporter
A section of the Kingston waterfront as seen from Ocean Boulevard.

The Urban Development Corporation (UDC) has wrapped up a demand study for a new development and is now analysing the results to ascertain the level of interest in acquiring residences in downtown Kingston.

At the same time, the UDC is looking for investors to build the residential complex on the waterfront, called West Street Residence. The plan calls for the transformation of a 2.63-acre lot into a five-tower multi-storey mixed-use complex. The residential component will consist of two- and three-bedroom condominiums.

The site, fronting West Street, now hosts a parking lot owned operated by the UDC, small commercial operations, and a security outpost for the Jamaica Constabulary Force, which "at present has downsized its occupancy due to poor infrastructure and lack of amenities", the state developer said in its investment listing.

On January 26, the UDC said through its communications unit that it recently completed a market demand survey for the project and plans to issue requests for proposals for a developer by the first quarter of 2018.

"The analysis is ongoing on the findings, and as such, we are unable to share highlights at this time," the UDC said, when asked the results of the study.

The cost of developing West Street Residence will be determined by the design and assessments to be undertaken by the selected developer, the UDC said.

avia.collinder@gleanerjm.com