The primary pre-requisite for successful implementation is approval of the Development Plan by Cabinet and Parliament. Transformation and regeneration of East Port of Spain is a complex development process comprising a series of strategic actions on a phased basis over a ten (10) to fifteen (15) year period. Economic, social and physical regeneration are inextricably linked.
While the Plan proposes specific economic strategies, physical regeneration will also stimulate economic regeneration in East Port of Spain but both require a measure of social transformation to achieve sustainability. New development and redevelopment will:
- Introduce participatory governance structures,
- Create employment;
- Create an attractive environment for investment;
- Provide the infrastructure and safety necessary to encourage investment;
- Identify and develop key sites for economic activity which are accessible to residents and to traffic on major arterial routes passing through the area; and
- Require introduction of participatory governance structures.
The East Port of Spain Development Company will execute the following strategy to achieve the Vision for East Port of Spain:
- Identify and prioritise development projects that focus on strategic geographic and sectoral priorities to achieve maximum impact and benefits for residents of East Port of Spain;
- Submit a Strategic Development Plan for approval and adoption by Cabinet and Parliament;
- Designate Comprehensive Development Areas in accordance with the approved Plan and identifying targeted actions to regenerate the most deficient and obsolete urban villages and neighbourhoods;
- Formulate comprehensive development and design briefs â€“ including development concepts, planning and development standards; development mix and performance standards - to guide preparation of more detailed designs for implementation and construction of key projects;
- Acquire or assemble critical sites; service potential development sites with adequate trunk infrastructure; and package land for development by private or public sector developers, in accordance with prepared briefs;
- Remove or mitigate against obstacles to regeneration and redevelopment (barriers to implementation);
- Implement development on strategically located vacant or opportunity sites at higher densities to create surplus housing and spare capacity;
- Relocate persons from areas designated for comprehensive redevelopment (CDAs);
- Redevelop CDAs at higher density to create further surplus units;
- Relocate original residents and others to facilitate redevelopment of additional CDAs;
- Provide incentives for developers to include a specified mix of housing units to attract residents of all income groups, using cross subsidies where appropriate to ensure affordability to low income families;
- Provide Housing Improvement Grants to facilitate improvements and rehabilitation by private individuals where appropriate.