More commercial, housing projects set for downtown Kgn

[Jangle]

Prime Minister Andrew Holness has announced that there is to be greater investment in the development of commercial and residential real estate in downtown Kingston.

“We have been speaking with the World Bank and the IFC (International Finance Corporation) about developing a project for the urban renewal of downtown Kingston and we are very serious about that. We believe that it can be a major catalyst for economic growth in this area,” Holness said during the official handover of the Port Royal Street Coastal Revetment Project on Wednesday.

JSIF Managing Director Omar Sweeney said the revetment project is the single largest project in the 25-year history of the fund. It included the implementation of one kilometre of composite seawall and armour stone revetment structure, upgrading of drainage features, rehabilitation and raising of one kilometre of existing roadway, and installation of a boardwalk to improve the site’s aesthetics and promote recreational activity along the shoreline.


https://jamaica-gleaner.com/article/...t-downtown-kgn

[Sir X]

Where is the clown that said , it cannot be done .

[Bricktop]

development of commercial & residential real estate as i said...not cultural tourism...engage yuh brain before you speak

[Jangle]

PanJam opens ROK Hotel

Following delays associated with the novel coronavirus pandemic, PanJam Investments Limited opened the ROK Hotel, Tapestry Collection by Hilton, in downtown, Kingston, on Tuesday, July 19.

The property, which was the former Oceana Hotel, is located at the corner of King Street and Ocean Boulevard and represents the investment holding company's second major hotel development. The first eight floors are part of the general hotel space with 168 hotel rooms while the ninth to twelfth floors are reserved for residential living with 42 residences split between six penthouses and 36 apartments. The residential units and PanJam's two acres of undeveloped land in Norbrook were valued at $1.01 billion as of March 31. The property is operated by ROK Operating Limited with most of the residential unit sales completed already.

https://www.jamaicaobserver.com/busi...ens-rok-hotel/

[Sir X]

Gentrification:

https://youtu.be/6PRfmeyY4hk

[Assasin]

Who said it couldn't be done. Jah know say you lie. Are you aware of the development going on in parishes around Kingston and St. Andrew? St.thomas, Portland, St.Mary and St.Catherine? and also the town of Port Royal.

This has to be done to be fully integrated with the development of Kingston. Kingston alone can only accommodate only so much development and it has to incorporated it's suburb and neighbors with land space.

[Jangle]

As I've been saying for years, not every tourist travels for sun, sand and sea alone. Kingston, and to the other extent, St. Thomas and Portmore need more hotels AND motels to accommodate more visitors.

"Banks had originally indicated at the AGM that the hotel development would be built to suit the business travelers who don't necessarily require the amenities of an all-inclusive resort but would still want the benefit of a business hotel focused on conference centres and other amenities to suit their needs. Air traffic at the Sangster International Airport surpassed pre-COVID numbers for June to 393,100 passengers."

[Sir X]

Sass are you calling Jangle a liar ,I am curious as to whom you are addressing that comment to, the only person that had an issue with the gentrification process is your buddy Brick , specifically can you state who is the liar ?

[Assasin]

X, I am sorry about that. However when you just generalize like that, I though you were accusing me of something I didn't say. You and Brickie can take that up.

[Sir X]

Seriously dude, the post was initiated by Jangle , I responded to Jangle , how can anyone interpret a general statement is applied to them , unless..........lol.

[Jangle]

Lakes pumping $2b into East Kingston apartment complex

Sherbourne Limited, a development company owned by Richard Lake and family, has launched construction on a $2-billion project that will provide housing in downtown Kingston.

The company is banking on tax incentives to temper the cost of financing and enhance its returns from the 10-storey high-rise that’s due hit the market in two years.

Kingston Two Apartments, or K2, as the development is called, is to be constructed on approximately two acres overlooking the Kingston Harbour.

Sherbourne Limited, whose principal director is Michael Lake, will invest $2.1 billion in the urban renewal project that will provide 119 apartments, 54 of which will be studio units. The apartment prices range up to $35 million, and delivery date is set for fall 2025.

Sherbourne Project Manager Gina Harrison told the Financial Gleaner that “two major banks” have given an indication that they would “either finance outright or issue urban renewal bonds with tax free interest income” and that “should the project be approved under the Tax Incentive Programme the bonds would reduce financing costs”.

https://jamaica-gleaner.com/article/...rtment-complex

[Jangle]

Ground broken for 2.1 billion housing development in Kingston

KINGSTON, Jamaica – Sherbourne Limited will soon be bringing its $2.1-billion residential development, Kingston Two Apartments (K2) in Bournemouth Gardens, Kingston to market.

The 10-storey residence, for which ground was broken on Tuesday, will feature 119 units, ranging from studios to two-bedroom apartments.

These will comprise 54 studios – 374 sq ft., 28 one-bedroom units – 738 square feet (sq ft), 35 two-bedroom units – 827 sq ft, and 2 two-bedroom super units on the ninth floor– 1,201 sq ft, all with waterfront views of Kingston Harbour.

Amenities include a gated entrance, 150 parking spaces, an outdoor entertainment deck, a ground-floor lobby and lounge, a roof terrace with a fitness centre and pool, an onsite wastewater system, a backup generator for common areas and water storage tanks.

BYD Construction is the contractor for the development, which is expected to be completed by the fourth quarter of 2025.

https://www.jamaicaobserver.com/late...t-in-kingston/

[Sir X]

Wow