Groundbreaking for Ka Makana Alii celebrates growth of Kapolei
Aerial view of Ka Makana Alii looking makai. (Image courtesy: DeBartolo Development)
KAPOLEI, OAHU (HawaiiNewsNow) -
When it's finished Ka Makana Alii, the new mall being built in Kapolei, will boast 150 retail, dining and entertainment options, two hotels and LEED-certified office space.
Confirmed tenants include Macy's, H&M, Forever 21, Hampton Inn & Suites, Walgreens, Consolidated Theatres and more. It will be ‘Ala Moana Center West' in many ways.
In other ways, it will be so much more.
"It is a deeper connection in terms of what this project offers to our communities, our beneficiaries and our Hawaiian people" said Jobie Masagatani, Chair of the Department of Hawaiian Homelands.
The land the mall will be situated on is owned by the DHHL. DHHL signed a lucrative deal with the developer, DeBartolo Development, which will fund the department for years.
The DHHL will receive funds in two ways: by a ground lease the developer will pay for, and by a portion of rent and performance of the tenants.
"I believe the ground lease is about 400 million, and the potential participation is about another 400-500 million on the conservative side" said Masagatani.
"A very, very, complex document, very complex to get all those pieces put together, but it came together, and it's really the right time" said Ed Kobel, President and COO of DeBartolo Development.
The DHHL will be able to use the funds for new home construction for Hawaiian homesteaders, and to perpetuate the mission of the department. The benefits, however, aren't not just down the road.
"It's creating 6,500 jobs out here in the first phase. So people who live out here can work out here, and not get into that traffic" said Honolulu Mayor Kirk Caldwell.
In addition to those positions, 3000 construction jobs will be created. The developer hopes to open the first phase of the project in late 2016.