The Cabinet has approved the demolition of the old Besson Street police station, as the first phase of a Piccadilly development project.
This will make way for what is being described as a mixed-use tower building.
The announcement was made at today's post-Cabinet media conference by the Minister of Housing and Urban Development, Edmund Dillon.
The tower building will involve space for economic activity on the ground floor, recreational space on the second floor and residential apartments on the other floors.
The design of the building is to be done by the Urban Development Company of Trinidad and Tobago (Udecott) and the minister was unable to give a cost and design of the tower.
He said the development project will incorporate some of the essential buildings in the area, including the lodge and schools.
The Office of the Prime Minister and the Ministry of Housing and Urban Development are both involved in the project.