A&B buys shopping center in Utah
Alexander & Baldwin Inc. has added to its Utah real estate holdings with the purchase of a neighborhood shopping center in Sandy, Utah, for $20.5 million.
The Honolulu-based company said the purchase through subsidiary A&B Properties Inc. was made with tax-deferred proceeds from recent real estate sales, and becomes the third commercial property owned by A&B in greater Salt Lake City. The shopping center, named Little Cottonwood Center, contains 141,600 square feet of leasable space that is 97 percent occupied.
Homeowners get free foreclosure help
Hawaii homeowners facing foreclosure are reaching out in greater numbers for free assistance from federally sponsored counselors. The nonprofit Homeownership Preservation Foundation, which operates a toll-free hot line staffed by counselors approved by the federal Department of Housing and Urban Development, reported taking 5,344 calls from Hawaii in the first nine months of the year, up 13.6 percent from 4,706 calls in the same period last year.
Nationwide, calls declined 15.2 percent to 1.2 million in the same time frame, according to the Washington, D.C.-based organization. The hot line is 888-995-HOPE.
Grant to help financial education
The Council for Native Hawaiian Advancement is due to receive a $3.5 million to help native Hawaiians learn how to buy homes, establish savings accounts and improve their credit scores.
Hawaii Sens. Daniel Inouye and Daniel Akaka say the funds are from a U.S. Treasury Department grant.
Inouye said in a statement Monday the program will help native Hawaiians navigate the financial landscape at a time when credit is tight and banks are heavily scrutinizing prospective home buyers. Akaka stressed the importance of financial education.
UH gets ‘B’ grade for sustainability
A mainland nonprofit organization has given the University of Hawaii a "B" grade for its sustainable practices, including reducing electricity consumption and serving locally produced produce in its cafeterias.
The Cambridge, Mass.-based Sustainable Endowments Institute said its College Sustainability Report Card seeks to encourage sustainability at colleges and universities by offering independent yearly assessments of progress.
The report card rated UH in nine areas and averaged the scores to come up with the final grade. UH received two "A" grades, one for the administration’s commitment to sustainability through an official charter, and another for achieving a 20 percent reduction in electricity consumption since 2004, with a goal of achieving 50 percent reduction by 2015.
ON THE MOVE
20101028_biz_b6mugs.jpg Waikiki Beach Marriott Resort & Spa has promoted Stephen Hinck to resident manager. He previously was director of operations at Waikoloa Beach Marriott Resort & Spa.
Bishop Museum has named Donna Howard vice president of development effective Nov. 5. Her experience includes work as director of development at the National Tropical Botanical Gardens on Kauai, and president and chief executive officer of Kapiolani Health Foundation.
Coldwell Banker Pacific Properties has hired Adam "Aka" Wedemeyer branch manager. He has more than 10 years of real estate experience.
The Alexander & Baldwin Foundation has awarded a $20,000 grant to Chaminade University to support improvements for Eiben Hall. The renovation project includes structural repairs, classroom improvements and equipment upgrades. Eiben Hall is one of the university’s original campus structures, housing multiple academic programs and classrooms and the university’s only conference center. It is also the campus emergency shelter.