GROUND will be broken today for the Camacho Landmark Center, a multi-purpose commercial complex project that will put a new landmark at the ITC intersection in Tamuning.
The project’s proponents, CAM 5 Real Estate LLC and Personal Finance Center (PFC), will hold a ceremony this morning to mark the commencement of the first phase of the project consisting of three integrated commercial buildings designed by RIM Architects.
According to RIM Architects’ height variance application with the Guam Land Use Commission, the first component of the project is a three-story finance building “designed to house a bank and other financial business that serves the public and requires easy access for customers.”
The first building, which will occupy an area of 15,000 square feet, will house the Personal Finance Center Tamuning Center and Headquarters, according to a press release from PFC and CAM 5, which owns the properties.
The second phase of the project involves the construction of a retail building “with retail shops on the first floor and office space on the second floor,” the application said. “The building will have a total gross square footage of 26,116 square feet.”
The third component of the Camacho Landmark Center is a four-story office building with an underground structure for 410 parking stalls.
The commercial facilities will be accessible from Marine Corps Drive and Chalan San Antonio.
“The 178,000-square foot Camacho Landmark Center aims to be the premier, first-class, modern, multi-purpose commercial center in Tamuning,” according to a press release from CAM5 and PFC. “The development is designed to be a user-friendly home for professionals, corporate offices, financial businesses, light retail, food and beverage, and other commercial activities.”
RIM Architects said the buildings’ designs will “incorporate sturdy columns and a clay tile roof with broad overhangs to refer back to pre-war Spanish architecture.”
The variance application also said the buildings will feature contemporary glazing and shading devices to make the building energy efficient. A pedestrian courtyard will be built between the buildings to provide a shady outdoor meeting place.
“All the new buildings will be designed to meet U.S. Green Building Council LEED requirements for certification,” the variance application said. “The buildings will be insulated and have the most efficient mechanical equipment available for low energy demand and long life cycles.”
The project located in the heart of Tamuning is presently occupied by aging buildings, which, according to RIM Architects, “are now inconsistent with the surrounding building community.”
The project surrounds Paul’s Plaza, which will not be affected. The existing structures in the project area that will be demolished include the Island Equipment Warehouses and the Guahan Apartment Complex.
“RIM Architects feels that the Camacho Landmark Center is a valuable contribution to the Tamuning community,” the variance application papers stated. “The owners have found the appropriate use of this centrally located property that sits at the crossroads of Guam.”
Michael A. Camacho, president and chief executive officer of CAM5 and PFC, will lead today’s groundbreaking ceremony.
