AFTER more than a decade of controversy involving structural damage and encroachments on neighbouring facilities, Baron’s Plaza is currently undergoing some well-needed restructuring and will be rebranded to Commerce Gate by February 2016.

The new developer, Winston Lee, has purchased the plaza along with the adjoining premises at 61 Constant Spring Road, with the hope of leasing roughly 45 units on the 1.5-acres site during the first quarter of next year.

Baron’s Plaza was previously owned by Baron Stephens, but for years the property had been a source of contention between Warmon Limited, the operators of Market Place Plaza for what is believed to be property encroachments. The Kingston and St Andrew Corporation (KSAC) has also threatened the demolition of the building, which it says has been in breach of the corporation’s building code for a number of years.

The tenants occupying the building were evicted last year August.

Remax Elite real estate broker Anya Levy, in an interview with the Jamaica Observer, stated that despite previous troubles with the complex, Lee is excited about the development and has since acquired the remaining properties.

“Lee is a visionary. He sees the challenges, but knows that he can overcome them and it pays off, because what he has gotten now is an opportunity to some holding in an incredible location,” Levy stated.

The developer declined to comment on the investment cost, but stated that arrangements have been made with the operators of Market Place for the construction of a connecting drive-through for both complexes.

“Basically, what you will have is drive-through access from Constant Spring Road and Red Hills Road. The location makes it very unique, and since we started advertising for rental spaces, the phone has been ringing constantly. What we are doing right now is sifting through the applications to get the best mix of stores on the complex,” the real estate broker told the Business Observer.

“As the name suggests, commerce is not restricted to any type of business: we will take corporate offices, retails, bars, restaurants, and so on. We have a great mix of people who want different size units, and at this point we can accommodate whatever square footage they need.”

The development will include a total of 120 parking spaces, an elevator, generator for the common area, and 24-hour security. The three-tiered building is currently priced at US$25 per square feet for the ground floor, US$22 for the first floor and US$20 for the second floor.

“So the smallest space could be roughly US$1,000,” Levy said.

“Retailers need to show off their product. And if their product is in a lousy location, they are going to get lousy business, and people have recognised that this location and the whole amenities that Commerce Gate has to offer is going to attract people. So that in itself is probably the most powerful thing.”

Over the years, Lee has gained success from many of his developments, including Fresh Approach Grocery Store on Constant Spring Road, and State Mall in Cross Roads which houses Payless Shoes Store.