UDC assessing feasibility of multi-level parking garage
The Urban Development Corporation (UDC) is still contemplating whether to move ahead with a gestating plan to develop another parking garage in downtown Kingston, and has hired a consultant to review its commercial prospect.
The project was originally proposed for the Kingston waterfront and should have been developed in sync with the construction of a new head office for the accountant general.
That plan, in its original iteration in 2014, included a $2-billion mixed-use office building. The parking garage would have 792 bays, spanning 79,770 square feet, and would have been built on the existing Northern Car Park lot. The Ministry of Finance would have foot the bill.
BUSINESS CASE ANALYSIS
Given the changing circumstances, the UDC has turned to accounting firm Ernst & Young for advice.
"A business case analysis exercise is currently being undertaken by our consultant Ernst & Young Ltd. Thereafter, assessments will be made and the project actioned accordingly," the agency said via email.
The original five-level parking garage was to be complemented by kerbside commercial shopping spaces. The design concept incorporated energy and environmental efficiencies with renewable energy components in the form of photovoltaic panels and grey water recycling.
There is already a large multi-level parking garage in operation on the waterfront at the Kingston Mall. That facility serves the Jamaica Conference Centre to which it is connected via annex, and provides space for public parking, in general.