Lockhart Companies Incorporated ("Lockhart") has several projects in varying stages of development through its wholly-owned subsidiary, Lockhart Realty, Inc. ("LRI"). These projects implement one of Lockhart's strategies - to capitalize on development opportunities within the submarkets in which Lockhart currently conducts business.
LRI currently is planning a multiple use development to be known as Sugar Estate Commercial Centre to be located in Sugar Estate Park. LRI also proposes to develop five acres fronting on the Weymouth Rhymer Highway as the additional phases of the development known as Market Square East. Phase I of Market Square East hosts a cinema/restaurant complex, a large scale discount food retailer and a commercial office building.
Sugar Estate Park. The development plans for Sugar Estate Park include: (i) a proposed two-story commercial office complex at Lockhart Gardens, adjacent to the newly-renovated retail center, with ground floor retail and office place on the second floor; (ii) an office complex at Number 10 Estate Thomas (across the highway from Lockhart Gardens), with first floor retail, and the remaining area for the separate corporate offices of Guardian Insurance Company and Lockhart Companies Incorporated; and (iii) a three-story commercial office tower with at-grade customer parking.
Market Square East. The multi-phase, multi-section development plans for Market Square East, complimenting the first Phase that now is leased to Cost U Less, Caribbean Cinema, and Wendy's (opening in the first quarter of 2006), will consist of the following:
- Phase II - a 60,000 square foot retail power center, with two or three name-brand, national retail tenants and other neighborhood retail services;
- Phase III - "The Knoll" - a 60,000 square foot, neighborhood retail and service center, with national name family restaurant and possibly family entertainment concept to complement movie theaters, and including a major retail to be located at the "Market Square East Corner" (at the intersection of Route 38 and Route 39);
- Phase IV - a light industrial complex (with space available for either land lease or sale), directed at local, mid-island distribution firms; and
- Phase V - miscellaneous commercial projects, such as office or institutional uses west of Cost-U-Less.
Residential Development. In addition to the commercial development detailed above, LRI is working on significant development plans to construct much-needed, middle-income housing, and a range of all-incomes levels of housing and condominiums, in strategic locations throughout Lockhart's residential-zoned tracts and properties.
Lockhart Gardens Shopping Center - Garden Mall
Click here to see a map of Lockhart's Real Estate Development Projects.