Hawaii is on the move - Saks Fifth Avenue: Waikiki International Marketplace, which is been there since I was a little boy, is going to be torn down and a new retail complex will replace it. Today, it was announced that Saks Fifth Avenue will open its first store in Hawaii at the new center… as the anchor tenant. The long-planned project will replace the International Market Place, the Waikiki Town Center and the Miramar at Waikiki Hotel with an expansive retail and entertainment conplex. The project is expected to break ground later this year or early 2014. Honolulu’s dck pacific construction LLC has been chosen as the general contractor for the project. “We are still in due diligence with Taubman [and] look forward to completing that due diligence in the near future,” said Cedric Yamanaka, a spokesman for Queen Emma Land Co., a nonprofit formed to support The Queen’s Health Systems, which owns The Queen’s Medical Center. “We are still in the process of [seeing] if the revitalization [of the International Market Place] is the right thing to do.” As one of the most valuable land assets of Queen Emma Land Co., the International Market Place redevelopment will support the mission of The Queen’s Medical Center to improve the well-being of Native Hawaiians and the people of Hawaii, the company said. Revenues generated from the redeveloped property will directly fund operations at Queen’s as well as upcoming community initiatives such as the opening of The Queen’s Medical Center — West Oahu. No other tenants have been announced for the Waikiki project and the opening date of Saks Fifth Avenue is not yet known. With the May announcement that Bloomingdale’s will open at Ala Moana Center in the fall of 2015 and now Saks Fifth Avenue in Waikiki on Friday, the state has picked up a couple of high-end retail department stores in just about a month’s time. “The Saks announcement is a milestone,” Yamanaka told PBN. “But it’s one step in the process.”
Posted on: Sat, 15 Jun 2013 02:12:06 +0000
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