Pacific Business News

Commercial Real Estate

By Janis L. Magin

April 20, 2021

The state of Hawaii has scheduled a briefing next month for the development community on how it plans to proceed with the real estate portion of the public-private partnership effort to redevelop Aloha Stadium and the 98 acres of land that surround it into a mixed-use sports and entertainment district.

The state in February said it was splitting its P3 plan for the redevelopment, dubbed the New Aloha Stadium Entertainment District, or NASED, into two — a new stadium complex on 20 acres and mixed-use development on the remaining 98 acres.

Three development teams that were chosen through a request-for-qualifications process last year will compete through a request-for-proposals process to rebuild the stadium portion of the project.

The state Department of Accounting and General Services, which is leading the project along with the Stadium Authority, plans to release details about the procurement process for the second portion — commercial and residential development on the remaining 98 acres — during a virtual conference on May 4 at 11 a.m. Registration can be found here.

“The real estate project market outreach is another big step forward for the NASED project,” Chris Kinimaka, public works administrator at DAGS, said in a statement. “We are excited to engage with the real estate market and prospective offerors, so we can continue the process of selecting a development team that will partner with the state to achieve the long-term vision for the district.”

The state also updated the NASED website with more information about what’s being called the Real Estate Project and a draft environmental impact statement on the project is scheduled to be completed this summer.