Bermuda Public Storage will celebrate the grand opening of its new self-storage facility in the heart of Hamilton later this month.The 50,000-square-foot, eight-storey complex on Elliott Street features seven floors of storage space two floors below ground and five above with an office and loading dock on the mezzanine level.The new space joins two other recent projects in what has become a competitive market. It is the brainchild of Troy Burrows, owner of Burrows Construction, who says he saw a need for public storage on the Island years ago. “We started marketing this concept back in 2006 or 2007 and at that time, there weren’t any storage facilities on the island at all. We had to prove to our financiers that there was a need for this.”Mr Burrows says there’s definitely a demand for space. “Business is good. We opened up the first three floors initially which is 300 units and those three floors went really fast.”The company began renting those units at the end of last year. Now, construction is complete on the other floors and they’re already starting to rent out those remaining 200 units.The project has already attracted several residential as well as business tenants including insurance companies, law firms, and local retailers like art suppliers, DNA Creative Shoppe and florist, Flowers by Gimi.“So far we’ve seen a wide range of clients from companies looking to store inventory or files to homeowners looking to get rid of clutter it’s a good mixture.”The fully climate and humidity-controlled spaces range in size from five by five to 18 by 40. Customers have access to their units 24 hours a day, seven days a week. They just punch in their security code on the touchpad and that opens up the garage allowing them to pull their car or moving van right up to the elevators.The facility also features security surveillance and a covered container loading dock, allowing customers to move items right from a shipping container to a storage unit. Staff are on-site Monday through Saturday to help people estimate the amount of storage they might need. They also sell packing materials and provide forklifts and trolleys.When asked what Mr Burrows thought set this new self-storage facility apart from the rest, he said it boiled down to price, size and location.Units start at $95 a month and in a cost comparison of the three facilities on the island, Bermuda Public Storage appears to be the least expensive across the board with prices anywhere from 15 to 40 percent less than Island Self Storage or Bedrock Secure Self Storage. A 10 by 5 unit, for example, which is $190 a month at the new Bermuda Public Storage facility rents for $280 a month at Island Self Storage, $235 at Bedrock and $190 at Bermuda Public Storage.“In these economic times, we have to be smart about how we spend our money and we’re by far the most reasonably priced facility on the island,” said Mr Burrows. “We’re also the largest and right in town.”The grand opening of Bermuda Public Storage is set for Wednesday, March 20 from 12-5.30pm at the new facility at 21 Elliott Street.