Real Estate Project Schedule Milestones
RFP PART 1
RFP PART 2
INITIAL DEVELOPMENT CONSTRUCTION COMMENCES
Governor Green is currently evaluating the procurement and delivery approach for NASED. Consequently, the details in this “Real Estate Project Schedule Milestones” section may be subject to change.
Utilizing our team of industry experts, a procurement schedule has been developed to engage with the market in the most efficient way possible, while following a robust governance and consultation process.
Real Estate Market
The Real Estate Project is expected to be built out over time to respond to market demands. While fully building out NASED over 5 to 10 years may be attractive from a site and revenue perspective, there is likely not enough demand to support that approach. The best long-term value for the State of Hawai‘i and NASED, as a district, is expected to come from a longer-term build out.
Site Operations and Event
Another key driver for how NASED will be developed is the requirement to accommodate successful continued site operations and events, including the Aloha Stadium Swap Meet & Marketplace and car parking for stadium events. The Master Development Partner will be required to ensure that its development plans accommodate these functions, as a minimum.
The Master Development Partner will be expected to ensure that the Real Estate Project has elements of completed, operational, vibrant development and use to support the new Aloha Stadium when it opens.