The University of Hawaii has stated that they are considering a plan to lease land around their West Oahu campus to commercial developers. The university currently controls several hundred acres of undeveloped land in Kapolei, but have recently been under attack by state legislators who accuse the school of allowing the land to sit idle. Some lawmakers have even proposed taking the land back for state use unless the University of Hawaii has a plan in place.
The Board of Regents and school administrators are currently working with a consultant to draft a plan for its two vacant Kapolei parcels. The first consists of 500 acres of land makai (towards the ocean) of the H-1 Freeway. The second parcel consists of 991 acres of undeveloped agricultural land makau (towards the mountains) of the freeway. University of Hawaii President, David Lassner, stated, "The purpose of this activity was really to identify which parcels would get generally used for what uses, coming up with the broad vision for the two parcels, and in particular the makai parcel. At this point we're not really looking at selling. We don't think we need to sell land to realize the commercial value, but we're very interested in using the land to address our financial challenges."
The Board of Regents and school administrators are currently working with a consultant to draft a plan for its two vacant Kapolei parcels. The first consists of 500 acres of land makai (towards the ocean) of the H-1 Freeway. The second parcel consists of 991 acres of undeveloped agricultural land makau (towards the mountains) of the freeway. University of Hawaii President, David Lassner, stated, "The purpose of this activity was really to identify which parcels would get generally used for what uses, coming up with the broad vision for the two parcels, and in particular the makai parcel. At this point we're not really looking at selling. We don't think we need to sell land to realize the commercial value, but we're very interested in using the land to address our financial challenges."
The University of Hawaii's West Oahu campus currently takes up 80 acres of the the 500 acre makai parcel. Lassner has stated that the school would like to hold onto about 300 acres of that land to allow the campus to expand. However, that will allow for over 150 acres to be redeveloped with commercial properties. Lassner commented, "We probably wouldn't do big-box retail, but more specialty, mom-and-pop stores, high-density housing, rental apartments, entertainment, restaurants. With the university there, two (rail) stations, Ho‘opili (a 12,000-residence master-planned community) nearby, that will probably inspire some good ideas about what else the area could use."
Source: Honolulu Star Advertiser, 9-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
