The Urban Development Corporation (UDC) has concluded arrangements to lease the Victoria Pier Building on the Kingston Waterfront.
Yosamini Holdings now has a 25 year lease on the property.
The building previously housed a restaurant, nightclub and launching pier for harbour tours.
Yosamini Holdings has proposed to transform the property into an ‘‘A’’ class’’ restaurant with a lounge, sports and gaming facilities, art gallery as well as an outdoor entertainment area.
The UDC says this will impact the socio-economic development of the area, with the Victoria Pier being an entertainment hub.
Queens Market
The Kingston and St. Andrew Corporation (KSAC) will allocate approximately J$40 million from its Equalisation Fund to complete the upgrading of the Queens Market in downtown Kingston.
A resolution to facilitate the transfer of the funds was passed at the KSAC’s monthly meeting on Tuesday.
During the 2012/13 financial year, the KSAC spent more than J$10 million to upgrade the market located at the corner of Heywood and Princess Streets.
The covered section was redesigned and can now accommodate 200 vendors.
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