About The Real Estate Project
The Real Estate Project will comprise the development of approximately 70 to 80 acres of the NASED site (highlighted at right in blue, green and orange) and will deliver a mixed-use, live-work-play-thrive entertainment district. Development is expected to occur over 20+ years and include residential (rental and for sale options), hotels, office, retail / commercial and entertainment uses in a manner that supports the NASED vision and objectives alongside the new Aloha Stadium.
After the conclusion of Market Outreach, the State intends on conducting an open procurement process to select a developer for the entirety of the Real Estate Project area in line with the NASED vision while optimizing economic benefit to the State and minimizing the State’s financial risk.
The State expects to contract with the selected developer (Real Estate Co) via a long-term ground lease revenue structured transaction (Ground Lease) for the site that will ultimately result in the development of a vibrant mixed-use entertainment district that fully supports the vision of NASED and will bring annual revenue to the State to help offset the cost and expenses of the Stadium Project.