Commercial Real Estate
By Stephanie Salmons
January 31, 2022
Two developer-led teams with ties to Hawaii have advanced to the second phase of the New Aloha Stadium Entertainment District, or NASED, real estate project’s request for proposals.
The NASED project – which has a stadium and a real estate component – aims to replace the aging Aloha Stadium with a new sports stadium surrounded by entertainment venues, retail, restaurants, residential lots, hotels and recreational sites.
The stadium project encompasses approximately 25 acres of the Halawa site, with the remaining 73 acres designated for the real estate project.
Two teams competing to redevelop the land surrounding the new stadium:
- Aloha Halawa District Partners, a consortium comprised of Development Ventures Group Inc., Stanford Carr Development LLC, Hawaiian Dredging Construction Company Inc., WATG SB Architects, Rebound Associates, Colliers, Wilson Okamoto Corp., NBBJ LP, DTL and Bennet Group
- Waiola Mixed-use Partners, a consortium comprised of Kobayashi Group, BSC Acquisitions II LLC, Machete Group Inc., Design Partners Inc., Manica Architecture, Stantec, Nan Inc., A.C. Kobayashi, JMA Ventures LLC, BAMP Project, Biederman Redevelopment Ventures, SSFM International, Wilson Okamoto Corp., Nainoa Thompson and S.H.A.D.E.
“The two developer-led teams represent decades of experience in Hawaii’s construction industry and have the proven ability to execute the vision for the NASED real estate project that has been shared with us by members of the community,” Chris Kinimaka, public works administrator for the Department of Accounting and General Services said in a statement. “We’ve heard from the community that NASED needs to be a true live-work-play-thrive entertainment district that will reinvigorate the area and become a beacon of community pride on game days and throughout the year.”
In the first part of the two-stage procurement process, the state issued a request for proposals for the real estate project and developers were asked to provide their experience and qualifications with similar projects, as well as a preliminary description of how they see the real estate project complementing and supporting the new Aloha Stadium development, Pacific Business News reported in October.
According to an announcement, the second phase of the real estate project RFP will be issued by the state in the first quarter this year, which will allow the selected teams to provide an overall concept for the site and create more detailed proposals.
A “master development partner” is expected to be selected by this summer, according to the announcement.
The RFP for the separate stadium project portion of The New Aloha Stadium Entertainment District, which was set to be delivered to three previously identified preferred developer-led teams in December, was delayed at that time.
The stadium project RFP will be issued once required state reviews are complete.
Some state legislators, however, have proposed legislation that would instead use the area surrounding the stadium for affordable housing.
Senate Bill 2505, for example, would amend development guidance policies for the Stadium Development District and require the development of at least 100,000 housing units near Aloha Stadium, with at least 80% of those units sold or rented to those whose incomes do not exceed 80% of the area median income.
The measure calls for the housing to be developed “as close as possible to the rail station nearest to the stadium.”
A second piece of legislation, Senate Bill 2574 – calls for the Aloha Stadium Authority to designate an area of up to 25 acres within which the new stadium will be built, and transfer the remaining land at the Aloha Stadium site to the Hawaii Housing Finance and Development Corp., for the construction of 75,000 affordable rental units.
House Bill 2018 also says 20,000 affordable housing units could be developed on 73 acres of the Aloha Stadium site, and would require HHFDC to develop a plan to build affordable housing on the site.
As of Jan. 31, all three measures have been referred to committee, but hearings have not been scheduled.
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