GK to Construct Commercial Centre

GraceKennedy Limited (GK) has advised that almost a year after announcing the acquisition of a 48,000 square-foot parcel of land known as Lot 21, downtown Kingston from the UDC, it has started the necessary work to facilitate the establishment of the US$25M commercial centre which is to occupy the space. Located between the Jamaica Stock Exchange and 64 Harbour Street, Lot 21 will house a modern commercial centre with approximately 350 high rise parking spaces, offices and retail spaces. The building will also become the new home for the Group`s Corporate Head Office as well as GraceKennedy Money Services (GKMS), which comprises Western Union, FX Trader and Bill Express. Some 6,000 square feet of retail space will be available for rental. Designs are still being worked on, but the project in its current incarnation calls for nine floors and a 100,000 square-foot parking garage. In preparation for construction, work has begun to transform the Myrtle Bank lot adjacent to Lot 21, into a parking facility, where GraceKennedy team members will park until the completion of Lot 21. At that point, the UDC will assume responsibility for the Myrtle Bank Parking Lot.