Downtowners should feel hopeful with the news that the shuttered Walmart site at South King and Bethel streets has been purchased by Avalon Group, the Honolulu-based developer. Since the closure of the store, a site formerly occupied by Macy’s and Liberty House before that, the established anchor property has become an abandoned eyesore.

Avalon envisions residential units going above the existing parking garage, dedicating the rest of the building to entertainment and commercial use. It sounds like a good mix for how the urban core is evolving.