UDC OFFERS INVESTMENT OPPORTUNITY IN DOWNTOWN KINGSTON
With the downtown Kingston Waterfront rapidly regaining its place as a premier entertainment destination, the Urban Development Corporation (UDC) is once again offering investors the opportunity to actively participate in the redevelopment of the area.
According to the UDC, proposals are now being accepted for the lease and management of a Food Bazaar at its Festival Market Place property located at Pechon Street on the Kingston Waterfront.
The Food Bazaar kiosks total net rentable floor area is 1,524.34 sq. ft. and comprises five (5) double occupancy (10 leasable units) food/ beverage kiosks, an information booth and recreational areas. The kiosks are detached and laid out in a “piazza” setting enhanced by concrete grass blocks, ornamental palms and plants. Each building has a gross area of 321.31 sq. ft. with a net rentable area of about 304.87 sq. ft.
The development of the public space is anticipated to satisfy the demand for a multi-purpose site for culinary, musical and artistic activities. Additionally, the intention is to also enhance the passive recreational options for Downtown Kingston. The Festival Marketplace’s proximity to the Kingston Craft Market is another unique appeal of the facility.
Applicants are invited to submit offers in accordance with the procedures stipulated in the Information Memorandum Document (IMD) which is available on the UDC’s website at http://www.udcja.com/investments-opportunities. The document is also available at the UDC’s corporate office upon payment of a non-refundable fee of $2,500.00 by cash or Manager’s Cheque to the Urban Development Corporation.
Sealed and labelled proposals should be deposited by Thursday, May 16, 2019 no later than 10:00 a.m., in the Tender Box labelled “Request for Proposals - Lease and Management of Food Bazaar, Kingston Waterfront” located on the ground floor of the Office Centre Building, 12 Ocean Boulevard, Kingston.
The redevelopment of downtown Kingston is aligned with the Vision 2030 Jamaica National Development Plan which aims to make Jamaica the place of choice to work, live, raise families and do business. The UDC has been making development happen since 1968 when it was created by an Act of Parliament to carry out projects when and where it is needed within the context of national priorities.
For further information, please contact:
The Corporate Relations and Marketing Department
Urban Development Corporation
12 Ocean Boulevard
Tel :( 876) 656-8031