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THE Camacho Landmark Center, which officially broke ground yesterday, will create about 80 to 90 new jobs during the construction peak, according to Leonard Kae, senior vice president of Black Construction Corporation, the contractor for the new commercial complex project in Tamuning.
“This is an iconic project,” Kae said. “It’s centrally located; its architecture is modern, beautiful and has a lot of character and style to it.”
The three-building commercial facility, which will add a new landmark at the ITC intersection in Tamuning, is being developed by CAM 5 Real Estate LLC and Personal Finance Center (PFC).
Michael Camacho, president and chief executive officer of CAM5 and PFC, said the first phase of the project is scheduled to be completed in 14 months.
“It will change the landscape of this intersection dramatically,” Camacho said, adding the “unsightly” warehouses and aging apartment complex currently standing on the project site do not represent the best use of the property.
“We will be demolishing the warehouses and the apartment complex and they will be replaced by this modern commercial complex,” Camacho said.
He declined to divulge the cost of the project, which was designed by RIM Architects.
The first building will house the Personal Finance Center that “will assist the growth of the company for many years to come,” Camacho said. “Once the first phase is done, we will proceed with the second phase.”
According to RIM Architects’ height variance application with the Guam Land Use Commission, the second building will be available for retail shops, and the third will accommodate business offices.
“When phases two and three are completed, this whole corner across ITC building will have iconic buildings standing next to each other,” Kae said. “We are very proud to have this opportunity to build another building on Guam.”
Brent Wiese, RIM Architects’ principal-in-charge, said the ITC intersection “is a dream site for an architect.”
“This is the focal point of the island,” Wiese said, adding the new commercial facilities were designed with a “modern look for island-style architecture.”