Chowringhee, the coveted corporate address East of Suez in a bygone era, is witnessing for the first time in 15 years the construction of a modern office complex.
A structure with 18 floors, not counting the basement and the ground floor, is coming up on a plot located behind Metro Cinema in Esplanade with a completion goal of March 2019.
Christened Siddha Esplanade, the building is expected to house the corporate headquarters of its developer, the Siddha Group, on its top four floors. The remaining space will be offered for sale and lease.
The last notable commercial complex to have been built on Chowringhee was the 10-floor JK Millennium Tower in 2003. Another new building, called 42, is being built but it is a residential project.
On the commercial front, the situation changed in December 2014 when the Siddha Group took over a 54-cottah plot that can be accessed from Chowringhee by a 44-foot-wide driveway that separates Metro Cinema and Metropolitan Building.