The Honolulu Authority for Rapid Transportation has received preliminary approval from the Honolulu City Council to buy two private properties in Pearl City who have refused to sell their land through the use of eminent domain. The first property is a 9.7 acre lot located on the 96-100 block of Farrington Highway and the second is a 2,200 sq ft stretch of parking that fronts a commercial building on the 900 block of Kamehameha Highway. HART had attempted to negotiate with the landowners to acquire the properties, but negotiations were unsuccessful.
The Honolulu City Council has 45 days to raise any objections regarding the eminent domain purchase. If none are made, the owners would be forced to sell their properties based upon what a third party deems to the fair market value. Executive Director and CEO for the Honolulu Authority for Rapid Transportation, Dan Grabauskas, commented, “We believe the best option now is to have a third party, that is the court, decide the appropriate settlement. This action will respect the property owners’ interests and those of the taxpayers.”
However, Karen Lee, the vice president of RHS Lee Inc., which owns the 9.7 acre lot on the 96-100 block of Farrington Highway, is furious about the process. Karen Lee stated that she has owned the property with her husband Richard Lee for over 30 years. The land is currently zoned agricultural and has been was given a fair market value of $66,200 by HART in 2011, a number with Karen and Richard Lee feels is insultingly low. Likewise the Honolulu Authority for Rapid Transportation offered Stuart Plaza Investments, who own the 2,200 sq ft stretch of parking spaces on the 900 block of Kamehameha Highway, only $115,000 for their land. Bradley Pulice, the attorney representing Stuart Plaza Investments, felt that that HART’s appraisal was overly simplified and did not factor in the effect that removing their parking stalls would have on their businesses. Stuart Plaza Investments believes that the fair market compensation should be $950,000.
Source: Honolulu Star Advertiser, 1-25-2013, 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
