Real Estate Project Schedule Milestones
LATE 2022/ EARLY 2023
COMPLETION OF INITIAL DEVELOPMENT
IN LINE WITH THE OPENING OF ALOHA STADIUM
Utilizing our team of industry experts, we have developed a considered schedule to engage with the market in the most efficient way possible, whilst following a robust governance and consultation process.
The pace of our schedule comes from necessity rather than ambition. Below are some of the key schedule imperatives we must balance:
Real Estate Market
The real estate component of NASED 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 simply not enough demand to support this approach. The best long term value for the State of Hawaii and NASED as a district is expected to come from a long-term build out.
Site Operations and Event
Another key driver for how NASED will be built out is the requirement to accommodate the successful continued operation of site operations and events, including the Aloha Stadium Swap Meet & Marketplace and car parking for stadium events. The Real Estate Project developer will be required to ensure that its development plans accommodate these functions.
While we expect long-term development, the Real Estate Project developer will be expected to ensure that NASED has an element of completed, operational vibrant development and use to support the New Aloha Stadium when it opens.