UDC Pursuing Private Sector Partnership for Projects
By: , June 17, 2014The Key Point:
The Facts
- Speaking at a recent JIS Think Tank, General Manager of the UDC, Desmond Malcolm, said the projects include Long Bay Beach 1 and 2 in Negril, Westmoreland; and the northern car park in downtown Kingston.
- The UDC has identified a number of “shovel ready projects.” These are projects that would have gone through the critical approval phases and are ready for development by investors.
The Full Story
The Urban Development Corporation (UDC) is seeking private sector partnerships to take on a number of investment projects.
Speaking at a recent JIS Think Tank, General Manager of the UDC, Desmond Malcolm, said the projects include Long Bay Beach 1 and 2 in Negril, Westmoreland; and the northern car park in downtown Kingston.
He also cited the Catherine Hall Entertainment Centre in St. James; Caymanas Golf and Country Club and Cotton Polyester Complex in St. Catherine; the Ideal Warehouse and Festival Marketplace, in downtown Kingston; as well as a number of hotel rooms in Montego Bay and Negril.
In the case of the downtown Kingston car park, Mr. Malcolm said the UDC had issued a Request for Proposal last month, but based on the response, will be returning to the market with a more attractive offer.
“We intend to establish a car park in downtown Kingston because we believe that parking is very critical to the revitalization of Downtown Kingston,” Mr. Malcolm said.
He further noted that the UDC has identified a number of “shovel ready projects.” These are projects that would have gone through the critical approval phases and are ready for development by investors.
Mr. Malcolm informed that so far eight such projects have been identified and that this concept is a major step in the corporation’s efforts to facilitate development across the island.
“We understand that a lot of time developers, particularly those overseas, prefer not to have to go through the various agencies for the various permits,” Mr. Malcolm explained. He said these projects have approved development plans, and the UDC is collaborating with JAMPRO to market the projects.
The UDC General Manager said the agency continues to develop several projects across the island, such as the Jubilee Market in downtown Kingston; the Linstead Market, which has been designated a Jamaica 50 legacy project; the Harbour Street Craft market in Montego Bay; the Sabina Park lighting project; and the Spanish Town historic trail.