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State agency consents to Aloha Tower Marketplace takeover

By Andrew Gomes

POSTED:
LAST UPDATED: 11:59 a.m. HST, Jan 14, 2013


The Aloha Tower Development Corp. gave its consent today recognizing Hawaii Pacific University as the manager of Aloha Tower Marketplace and full owner of the company that plans to redevelop portions of the retail center with university facilities.

The decision by the state agency that owns the land under the marketplace allows HPU to move forward with a planned $32 million makeover of the center fronting Honolulu Harbor.

Under the plan, the marketplace would get a new name, possibly Tower District, as well as new retailers and restaurants. Dorms for 320 students, classroom space, a sports and entertainment complex and other school facilities are also part of the plan.

HPU originally signed on to finance the redevelopment project, but last year acquired full ownership of the marketplace and management control from developer Ed Bushor of Hawaii Lifestyle Retail Properties LLC pursuant to a buyout agreement.

Bushor has objected to the buyout and management takeover, and is pursuing claims in arbitration.







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mcc wrote:
There goes another landmark. Now it is a school. Oh well...
on January 14,2013 | 10:44AM
Bdpapa wrote:
That comes to 500K per student in that housing.
on January 14,2013 | 10:49AM
Maneki_Neko wrote:
Dreadful, unimaginative use of prime waterfront property.
on January 14,2013 | 10:49AM
loquaciousone wrote:
I propose placing a dive tower on the mauka side of the tower and tourists can pay $20 bucks to take a dive blindfolded.
on January 14,2013 | 01:11PM
Royabell wrote:
What a waste. I know I will never go there again! It is going to be a student district and we all know what comes with that.
on January 14,2013 | 10:59AM
Mediocrates wrote:
Excellent! HPU will really turn that place around - thank God someone wants to improve the downtown area instead of abandoning it!
on January 14,2013 | 11:00AM
SueH wrote:
"...really turn that place around".... You mean "go in circles"
on January 14,2013 | 12:32PM
false wrote:
HPU there? Why didn't the state try to enter into some kind of partnership say with the UH college of business? Is it that the money that the State gets from HPU is revenue generating?
on January 14,2013 | 11:17AM
ichiban wrote:
Please, didn't you learn anything yet? Any time the state go into a business partnership, we the people, end up subsidizing or bailing the state of its business responsibility. The government has no business acumen.
on January 14,2013 | 11:34AM
grantos wrote:
because larger universities/colleges that operate at the campus level are in the business of land development, not academic units like the college of business
on January 14,2013 | 11:39AM
livinginhawaii wrote:
I'm not sending my daughter to a school above a Hooters. If the $32mm does not include additional free parking this place will remain a ghost town to retailers....
on January 14,2013 | 12:21PM
loquaciousone wrote:
I could never figure out why they call that bar Hooters. I never saw any owls there.
on January 14,2013 | 01:14PM
saywhatyouthink wrote:
HPU could not possibly be any worse than the other mall operators the state has used in the past. Give them a chance.
on January 14,2013 | 12:49PM
Mythman wrote:
Who actually owns the land? The story is unclear about this. Please correct the story, SA.
on January 14,2013 | 03:30PM
livinginhawaii wrote:
It was either OHA or the State from a previous article. It is not privately held...
on January 14,2013 | 03:57PM
aomohoa wrote:
This is nuts!!!
on January 14,2013 | 07:07PM
Jmhata wrote:
Au'we! to Aloha Tower Development Authority, U.S.Coast Guard, Hawaii Maritime and Port Authority to giving any type of authorization to change Aloha Tower to Housing for A private University HPU? I cannot understand how this can possibly be approved as the Aloha Tower site is part of our Maritime Secured area? Where we will will be having maritime boating and security on one side and free -willing students on the other? Whoever is in charge of the Aloha Development Authority really need to get their heads on straight and concentrate on what Aloha Tower should be toward our Tourism industry!
on January 16,2013 | 02:00PM
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