The Salvatori project is a Public Private Partnership with the Urban Development Corporation of Trinidad &
Tobago Limited (UDeCOTT).
The project will consist of a LEED-certified 27-story mixed use tower with residences, a 4-5 star hotel and multi-use commercial and amenity spaces.
Location: Cor. Independence Sq. & Frederick St. Port of Spain, Trinidad
Building Size: 656,460 sq ft
• 285-room Hotel
580 unit automated parking garage
• 95 Residential condominiums
• 8 Residential penthouses
• Commercial & retail stores
• Sal 3 Properties Ltd. - Sponsor - Developer
• BRW Ltd. - Architect
There is currently a push for the revitalization and renewal of Downtown and East Port of Spain.
The Salvatori - The Flagship will be a catalyst for renewal.
Given the location of the site, the ideal target tenant profile for commercial real estate would be upscale tenants (established retail brands). The current tenant profile of the downtown Port of Spain area is apparel, hair & beauty supplies, jewelry and accessories, shoes, food courts, bakeries and pharmacies.
The appropriate target market for condominiums would be middle
income professionals in the millennial (24-39) age bracket, who are first-time homeowners, single or married with small families.
The target market for hotel accommodation are mainly business travelers, with preferred amenities being city tour assistance, conference halls, cab services, 5G capabilities.
The City, to meet its designation as the nation's capital must update the vital commercial, transportation, infrastructure and sea port services, historically provided by the location.
The current trends in urban renewal, dictate a strategic approach to incorporate the following mega trends:
• The returning of nationals
• Digital Nomads
• The process of downstream industrialization
• Vibrancy, walkability and sustainability are routine expectations of the new millennial population.
The use of cities as a single place of residence, work and recreation has altered both the demographic as well as the complex of services required.
Young professionals now demand living accommodations that are within easy walking distance to work, if not home based and for leisure and entertainment activities.
We have identified returning nationals as a key population source in this revitalization process through a comprehensive marketing survey done of residents of the United States with Trinidad and Tobago heritage and nationality.
EverCare Medical Center will serve both a private medical need of specialized services as well as a medical tourism program. Staffed by professionals of vast international experience, the lynchpin of the program will be a proprietary telemedicine service of physicians based internationally, employing a rotating system of on-site presence and select services.
the extended stay hotel market is a growing segment of the hospitality industry that offers accommodation for travelers who need to stay for longer periods of time, typically more than a week.
The Extended stay hotel market is a significant and expanding part of the hospitality industry, driven by factors such as increasing demand for affordable and comfortable accommodation, rising business and leisure travel, changing consumer preferences, and technological advancements.
To supplement the destination appeal of downtown Port of Spain for year-round activity, the utilization and development of the Port of Spain port has been targeted as a key resource. Work has begun under the Nicholson Institute in New Jersey to establish a home/destination port relationship between the Port of Spain port and the port of Newark, currently the hub of the New York New Jersey Port Authority services.
Application of an asset-based approach
Assets of Downtown POS:
• Large responsive community
• Basic infrastructure present - it needs upgrade not new install.
• Established commercial operations with strong clientele.
• Walkable community
• Waterfront location with established docking facilities (Port Authority)
• Pivotal hub of East - West corridor
• 1/4-mile plethora of century old properties for demolition/replacement warranting a BID
(Business improvement District)
• Increase the number of Port of Spain residents.
• Create a local commercial community aligned to new office use criteria and trends. •
Reduction of vehicular traffic meandering the local streets of downtown by centrally
located efficient parking availability.
• Repurposing of port to cruise and light finished product inter island transport. •
Employment hub for the adjacent populated community (historic degradation of
employment principally due to port automation and drastic reduction of public services
manpower).
The project has 95 condominiums on five floors, consisting of one-, two- and three-bedroom units as well as three levels with 8 luxurious units on the topmost floors. The top units are double height.
The building has 2,773 m2 (29,848 SF) of retail space distributed across levels 1 and 2. These spaces are excellent for a variety of retail stores, superette / deli, bars, and restaurants. The level above the street has a verandah that overlooks the Brian Lara Promenade, a major City square. A spa and fitness club will be provided for hotel guests and residents.
The project will be handsomely landscaped internally and externally, enhancing the ambience, and moderating the climate and include features such as:
• Room occupancy sensors
• Rainwater harvesting
• Solar Panels
• Water saving taps and toilets
• Solar shading
• Roof Garden and landscaped terraces
A state of the art automated parking garage with 580 spaces is provided. The garage will serve residents, hotel guests, shoppers and clients of the Medical Center. This arrangement saves the driver the hassle of searching for off-site parking. Simply place the vehicle in the entry bay and you are on your way. The safety of patrons is enhanced as no one is able to enter the areas with parked vehicles.
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