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Waikiki Landing project adrift after losing loan

A $24 million investment is needed soon to prevent the Ala Wai boat harbor development from foundering

By Allison Schaefers

POSTED: 01:30 a.m. HST, Jul 02, 2014

~~<p>The Waikiki Landing, a controversial public-private partnership to develop a commercial and boating-services complex at the Ala Wai Small Boat Harbor, has lost its major funder, leaving developers scrambling to find 11th-hour financing to meet contract obligations.</p>
<p>Supporters herald the proj&shy;ect, which has been touted as potentially generating more than $900,000 a year for the state and more than $200,000 in annual city property taxes, as the pilot for privatizing state harbors to raise money for deferred maintenance and needed upgrades. New city zoning and state legislation paved the way for the planned $33 million complex designed to serve as a hub for boating and ocean activities.</p>
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The Waikiki Landing, a controversial public-private partnership to develop a commercial and boating-services complex at the Ala Wai Small Boat Harbor, has lost its major funder, leaving developers scrambling to find 11th-hour financing to meet contract obligations.

Supporters herald the proj­ect, which has been touted as potentially generating more than $900,000 a year for the state and more than $200,000 in annual city property taxes, as the pilot for privatizing state harbors to raise money for deferred maintenance and needed upgrades. New city zoning and state legislation paved the way for the planned $33 million complex designed to serve as a hub for boating and ocean activities. Login for more...



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