The Honolulu Authority for Rapid Transportation has announced that approximately $86 million has been budgeted in 2013 to purchase a total of 63 properties along the 20-mile route of the Honolulu Rail Project. According to the released plans, eight of the properties will be purchased out right, while the other 55 cases, only part of the property will be obtained by the city. HART has also budgeted in an addition $1 million to help relocate a total of 14 businesses that will be effected by the rail project. The real estate acquisition manager for HART, Jerry Iwata, stated, “HART still needs to finish the archaeological work in the city center area in order to complete the design work, which will determine the exact area needed for property acquisitions and which businesses will be affected. It is also premature to release the names of potentially affected parties when the process of notifying property owners has yet to begin.”
The city estimates that it will spend a total of $202 million purchasing land along the route, and may have to spend some additional funds helping homeowners and businesses relocate.
Source: Honolulu Star Advertiser, 11-16-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
