Susan Gordon, Staff Reporter
National Housing Trust multi-storey car park. - RUDOLPH BROWN/CHIEF PHOTOGRAPHER
PARKING IN New Kingston will improve in June 2006 with the completion of the National Housing Trust's (NHT) multi-storey car park.
Currently, the NHT is providing parking space for more than 300 vehicles on a leased lot adjacent to its Park Boulevard headquarters off Knutsford Boulevard. This space, almost an acre in size, is used as a parking lot for major events hosted at Emancipation Park.
The NHT's initiative in constructing the facility is very timely as its four-year lease with owners of the existing parking lot, the Urban Development Corporation (UDC), is about to expire. The project is being financed and managed by the NHT at a cost of $285million and is scheduled to be completed for opening in June 2006.
With the completion of the new parking garage being constructed on its compound, the NHT will add an extra 330 parking spaces to this section of Knutsford Boulevard.
"Current peak demand is 492 cars," communications coordinator at NHT, Sophia Lewis told the Financial Gleaner. She said the new car park, along with existing parking facilities for customers on the NHT's compound, will create a total of 502 spaces.
The new multi-storey car park is being erected according to Mrs. Lewis, as a result of the NHT's immediate and estimated long-term need for parking for its customers and staff as well as visitors to Emancipation Park.
"It is also expected to accommodate the excess parking requirements for any of the nearby hotels for a fee," added Mrs. Lewis.
Doreen O'Connor, communi-cations director at the UDC told the Financial Gleaner that, "The space will be used in accordance with the UDC's development plans," when asked what the plans were for their property. Real estate experts say the property is valued at between $30 million and $50 million.
Mrs. Lewis told the Financial Gleaner that whenever the NHT's parking garage is completed, the UDC will alter the terms of the lease to facilitate a monthly rental of the space instead of an annual lease.
