Hawaii Pacific University will sell a total of $42 million worth of special purpose revenue bonds to help finance the redevelopment of the Aloha Tower Marketplace. HPU plans to add student housing, new retailers and restaurants, and some other university facilities including an event center, more administrative and classroom space, and additional parking. The renovations are scheduled to begin sometime during the 2013-2014 school year and the university hopes to have the student housing finished prior to the fall of the 2014 school year.
HPU plans to have a second bond issue sometime next year to raise an additional $38 million. That money would be used to improve their Kaneohe campus and their Oceanic Institute at Makapuu.
Source: Honolulu Star Advertiser, 7-27-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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