?The new $30 million multi-storey car park to be built on Chacon Street, Port-of-Spain by the Nicholas Group comes at an important time, Planning Minister Camille Robinson-Regis said yesterday.
"We are heartened by the fact that you are investing $30 million in this and what you have deemed a land mark for Port-of-Spain. We know that parking is an issue for this city and we are happy that you are making this timely investment and we look forward to the day when the car park is completed," she said yesterday at the launch of the project.
The car park is due to be completed in July 2017 and will accommodate 200 vehicles.
Robinson-Regis said Port-of-Spain needs to be revitalised and the Nicholas Group has made its contribution in changing the city's landscape for the better.
"It has been very effective and very significant. As a member of the Government, we want to see the development of Port-of-Spain. On this occasion despite the fact that the fortunes are not as positive, our intention is to ensure that Port-of-Spain is revitalised and developed."
The minister also referred to the first budget speech by Colm Imbert, Minister of Finance who extended tax credits for the building of car parks to 2022.
"That is one of the incentives that has led to Mr Nicholas being able to construct the car park at that cost in this city. We have had other business people who are coming forward, like Furness which also opened a car park recently and it is because of the tax credit," she said.
Issa Nicholas, chairman of the Nicholas Group said he feels proud of the $30 million investment in a car park to in the middle of Port-of-Spain and said it was the fifth of its kind to be built by the group in the city.
"I expect this to be a new landmark," he said.