Jun 28, 2013, 12:23pm HST Hawaii Pacific University to announce two new tenants for Aloha Tower Marketplace Enlarge PBN file Hawaii Pacific University plans to announce a new restaurant and one other new tenant for the Aloha Tower Marketplace in the next few weeks. Duane Shimogawa Reporter- Pacific Business News Email | Google+ | Twitter | LinkedIn Hawaii Pacific University plans to announce a new restaurant and one other new tenant for the Aloha Tower Marketplace in the next few weeks, but the school’s $30 million plan to redevelop the Downtown Honolulu retail center with student dormitories may not be ready for its expected fall 2014 open date, spokesman Todd Simmons said Friday. Simmons told PBN that HPU plans to announce the location for the university space, which includes faculty uses, before revealing the names of the new commercial tenants. HPU plans to use special purpose revenue bonds to fund the project, as well as starting a long list of facilities and IT upgrades on its Honolulu campuses “[We’re] in the process of the bond sale [and] the firm we’re working with is in the thick of [the process],” Simmons said. “We will have funds available to take on the work here and other work that’s envisioned with the bonds.” The private university is still resolving permitting issues and construction is still scheduled for the latter part of this summer. But students may not move in until January 2015, instead of the original plan for the fall semester in 2014. In April, HPU said it had resolved a dispute with a California-based developer over ownership of the Aloha Tower Marketplace, which the school hopes to turn into a mixed-use property featuring retail and dining establishments, entertainment and community gathering locations and waterfront lofts for more than 300 students. On Friday, HPU also told PBN that it has laid off about 2 percent of its staff in various administrative capacities, although no faculty positions were eliminated as it moves to fulfill its strategic plan. However, the move won’t affect its Aloha Tower Marketplace Plans, Simmons said. Duane Shimogawa covers energy, real estate and economic development for Pacific Business News. Related links: Honolulu
Posted on: Sun, 30 Jun 2013 00:38:43 +0000
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