About The Real Estate Project
The Real Estate Project will comprise the development of approximately 70 acres of the NASED site (conceptually outlined above in blue) and will deliver a mixed-use, live-work-play-thrive entertainment district. Development is expected to occur over 20+ years and include residential market and affordable housing options, hotels, office, retail, commercial, and entertainment uses in a manner that supports the NASED vision and objectives, alongside the new Aloha Stadium.
The Real Estate Project will be delivered via a master developer style arrangement between the State of Hawai‘i and a private developer selected through a two-stage procurement process conducted by the State of Hawai‘i.
The State expects to contract with the selected developer (Master Development Partner) 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 generate annual revenue to the State to help offset the cost of the Stadium Project.